Diversified Trust Co Has $35.23 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Diversified Trust Co increased its Alphabet stake by 9.2% in the first quarter, buying 10,359 more shares and bringing its total holding to 122,824 shares worth about $35.2 million.
• Alphabet reported strong quarterly results, with earnings per share of $5.11 versus the $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly positive with an average rating of Buy and an average price target of $376.78.

Diversified Trust Co raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,824 shares of the information services provider's stock after buying an additional 10,359 shares during the quarter. Alphabet comprises approximately 0.7% of Diversified Trust Co's investment portfolio, making the stock its 24th biggest holding. Diversified Trust Co's holdings in Alphabet were worth $35,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. State Street Corp raised its stake in shares of Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock valued at $58,712,878,000 after purchasing an additional 953,790 shares during the period. Auto Owners Insurance Co raised its stake in shares of Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. J. Stern & Co. LLP lifted its holdings in shares of Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock valued at $31,569,189,000 after purchasing an additional 1,073,151 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $348.78 on Tuesday. 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 stock's 50-day simple moving average is $364.96 and its 200 day simple moving average is $331.41. The company has a market cap of $4.23 trillion, a P/E ratio of 26.60, a P/E/G ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. Alphabet's revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Negative Sentiment: Key AI researchers have left Alphabet for competitors, intensifying worries that the company is losing critical talent needed to lead in generative AI. Reuters: Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investors are also worried that Alphabet’s aggressive AI spending plans, including a large equity raise to fund infrastructure and compute, could dilute shareholders and pressure free cash flow. Quiver Quantitative: Alphabet Slides as AI Funding Plan Fuels Dilution Worries
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with A24, showing it is still investing in new AI use cases, but this was overshadowed by the talent-loss narrative. TechCrunch: Google DeepMind bets $75M on AI's future in Hollywood with A24 deal
• Neutral Sentiment: Recent fundamentals remain strong, with Alphabet’s latest quarter beating expectations on both earnings and revenue, which helps offset some of the negative sentiment. Alphabet stock page

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the stock a "buy" rating in a report on Friday, March 13th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research note on Monday, April 20th. TD Cowen upped their price target on Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Buy" and an average target price of $376.78.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 617 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 160,516 shares of company stock worth $7,344,604. Insiders own 12.99% of the company's stock.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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