GM Advisory Group LLC Trims Position in Alphabet Inc. $GOOG

Key Points

• GM Advisory Group reduced its Alphabet stake by 5.2% in the first quarter, selling 3,045 shares and leaving it with 55,868 shares valued at about $16.0 million.
• Alphabet’s latest earnings were strong, with EPS of $5.11 beating estimates and revenue of $109.9 billion topping forecasts; revenue also rose 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain largely positive with a consensus Buy rating and average price target of $376.19.

GM Advisory Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,868 shares of the information services provider's stock after selling 3,045 shares during the period. GM Advisory Group LLC's holdings in Alphabet were worth $16,026,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Imprint Wealth LLC acquired a new position in Alphabet during the third quarter valued at $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $41,000. Finally, Towne Trust Company N.A boosted its stake in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after buying an additional 34 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo, Alphabet’s autonomous driving unit, said it plans to expand driverless rides to four more major cities this year, a sign that Alphabet’s self-driving business is scaling beyond its current markets. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Google’s SynthID deepfake-detection system was used to debunk a high-profile AI-generated hoax image, highlighting the practical value of Alphabet’s AI safety tools. Google's deepfake detector system used to debunk McConnell hoax pic
• Positive Sentiment: Several recent articles continued to frame Alphabet as a beneficiary of the AI infrastructure boom, with Google Cloud and AI demand seen as supporting revenue growth and long-term earnings power. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Investor commentary has also remained constructive after strong recent earnings, with one analysis arguing Alphabet is on track to sustain “Rule of 40” type growth and healthy margins. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy
• Positive Sentiment: Berkshire Hathaway’s reported $10 billion private placement in Alphabet continued to draw attention and may support confidence in GOOG’s long-term value. Warren Buffett's Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Several market recap and valuation pieces discussed Alphabet alongside other mega-cap AI leaders, but these were mostly commentary rather than new business developments. Three Most Valuable Companies at $13 Trillion: Buy, Sell, or Hold
• Negative Sentiment: Trading-data articles highlighted recent weakness in GOOG, including heavier-than-broad-market selling and reports of significant insider selling over the past six months, which can weigh on sentiment. GOOGL stock is down 3% today. Here's what we see in our data.

Alphabet Trading Down 1.4%

Shares of NASDAQ:GOOG opened at $358.71 on Thursday. The business's 50 day moving average price is $369.48 and its 200-day moving average price is $334.74. Alphabet Inc. has a 1 year low of $173.88 and a 1 year high of $404.47. The firm has a market capitalization of $4.35 trillion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.81 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced 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. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Raymond James Financial restated a "strong-buy" rating and issued a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Pivotal Research reiterated a "buy" rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $376.19.

Insider Activity

In other Alphabet news, 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 transaction of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares of the company's stock, valued at $9,345,358.56. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,465 shares of company stock worth $8,020,511. Company insiders own 12.99% of the company's stock.

Alphabet Company 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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