First Horizon Corp Sells 3,544 Shares of Alphabet Inc. $GOOG

Key Points

• First Horizon Corp reduced its Alphabet stake by 3.1% in the first quarter, selling 3,544 shares and ending with 112,299 shares valued at about $32.2 million. Alphabet remained its 13th-largest holding and made up roughly 1.3% of the portfolio.
• Alphabet posted strong quarterly results, reporting EPS of $5.11 versus the $2.68 consensus estimate and revenue of $109.9 billion, up 21.8% year over year. Analysts still expect full-year EPS of 14.32.
• Insiders and analysts remain active on the stock: director Frances Arnold sold a small stake, while major firms largely kept bullish views, giving Alphabet a consensus “Buy” rating and a price target of $378.53. The company also recently raised its quarterly dividend to $0.22 per share.

First Horizon Corp lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,299 shares of the information services provider's stock after selling 3,544 shares during the quarter. Alphabet accounts for approximately 1.3% of First Horizon Corp's portfolio, making the stock its 13th largest holding. First Horizon Corp's holdings in Alphabet were worth $32,214,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in shares of Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock worth $330,886,000 after acquiring an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at $658,000. Financial Advisors Network Inc. boosted its stake in shares of Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock valued at $1,409,000 after purchasing an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. grew its holdings in shares of Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock valued at $6,618,000 after purchasing an additional 3,616 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 1.2%

Shares of Alphabet stock opened at $350.67 on Tuesday. The stock has a market capitalization of $4.25 trillion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23. 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 company has a 50-day simple moving average of $369.19 and a two-hundred day simple moving average of $335.63. Alphabet Inc. has a 52-week low of $180.71 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating 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 firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. During the same period in the prior year, the firm earned $2.81 EPS. The company's revenue was up 21.8% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 14.32 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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is presently 6.71%.

Insider Activity

In other news, Director Frances Arnold sold 112 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company'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. Over the last quarter, insiders sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is currently owned by corporate insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet received a fresh boost from analyst commentary and upgrades, including a Zacks Rank #1 (Strong Buy) and Bank of America’s view that Google search remains in an “expansionary moment,” which supports the case for continued earnings strength. Article: Alphabet (GOOG) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Reports highlighted continued user and traffic gains for Google, while new AI chip initiatives suggest Alphabet could expand its TPU business and strengthen its position in cloud AI infrastructure. Article: Google holds steady as Claude, Gemini surge in June user growth
• Positive Sentiment: Several articles framed Alphabet as a key AI beneficiary with custom chips, hyperscaler scale, and potential upside into its July 22 earnings report, which may be helping support the shares. Article: Google (GOOGL) Wants a Bigger Piece of Nvidia’s AI Chip Market – Here’s Its Plan
• Neutral Sentiment: Investors are also watching Alphabet closely because it is a heavily followed “trending stock,” with attention building ahead of earnings rather than on a single new fundamental catalyst. Article: Alphabet Inc. (GOOG) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Despite the bullish AI narrative, multiple reports point to a large and rising capex burden—analysts expect roughly $44.9 billion in Q2 capital spending—raising concerns that heavy AI investment could pressure near-term margins and cash flow. Article: Big Tech's Massive AI Spending Is Just Starting. Earnings Will Show It.
• Negative Sentiment: Alphabet also faces broader investor concern that its ad dominance could come under threat and that the market may be discounting the payoff from its spending surge until earnings confirm the growth story. Article: Alphabet's $1 Trillion Ad Dominance Is Facing New Threats

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. The Goldman Sachs Group restated a "buy" rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Stifel Nicolaus set a $420.00 target price on Alphabet in a research note on Wednesday, May 20th. Scotiabank restated an "outperform" rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. KeyCorp set a $445.00 price objective on Alphabet in a research report on Friday. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $378.53.

About Alphabet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.