Davidson Trust Co. Has $1.45 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Davidson Trust Co. cut its Alphabet stake by 28.4% in the first quarter, selling 2,000 shares and ending with 5,049 shares valued at about $1.45 million.
• Alphabet’s latest quarterly results beat expectations, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion versus $106.98 billion projected. The company also raised its quarterly dividend to $0.22 per share.
• Wall Street sentiment remains upbeat overall: analysts have a Moderate Buy consensus on GOOGL with an average price target of $413.90, while Alphabet’s stock recently traded around $361.21.

Davidson Trust Co. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,049 shares of the information services provider's stock after selling 2,000 shares during the quarter. Davidson Trust Co.'s holdings in Alphabet were worth $1,452,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Symmetry Partners LLC raised its position in shares of Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after buying an additional 30 shares during the last quarter. Members Trust Co lifted its stake in shares of Alphabet by 0.5% in the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock valued at $2,014,000 after buying an additional 31 shares during the period. Altfest L J & Co. Inc. grew its position in Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock worth $2,489,000 after buying an additional 31 shares in the last quarter. Insight 2811 Inc. grew its position in Alphabet by 1.0% during the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock worth $978,000 after buying an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC increased its stake in Alphabet by 0.4% during the fourth quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider's stock valued at $2,274,000 after acquiring an additional 32 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director directly owned 18,833 shares of the company's stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,465 shares of company stock valued at $8,020,511 in the last ninety days. 11.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Phillip Securities upped their price target on Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a report on Wednesday, April 15th. Loop Capital boosted their price objective on Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research report on Friday, May 15th. China Renaissance boosted their price objective on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Susquehanna restated a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Wolfe Research reduced their target price on Alphabet from $390.00 to $360.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $413.90.

Alphabet Stock Up 1.1%

GOOGL opened at $361.21 on Thursday. The firm has a market cap of $4.38 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.53 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm's 50-day simple moving average is $370.08 and its 200-day simple moving average is $333.88. Alphabet Inc. has a twelve month low of $172.77 and a twelve month high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Equities research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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