Mill Capital Management LLC Trims Stock Position in Alphabet Inc. $GOOG

Key Points

• Mill Capital Management trimmed its Alphabet position by 2.3% in the second quarter, selling 7,622 shares and retaining 324,102 shares valued at approximately $114.5 million. Alphabet remains the firm’s third-largest holding, representing about 7.6% of its portfolio.
• Institutional sentiment was mixed, with several funds increasing their Alphabet holdings while other investors reduced exposure. Institutional investors collectively own 27.26% of the stock, while insiders own 12.99% and have sold shares worth about $12.4 million over the past three months.
• Analysts remain broadly bullish, with Alphabet carrying a consensus “Buy” rating and an average price target of $415.55. The company reported quarterly revenue growth of 24.2% and earnings that exceeded estimates, while shares recently traded at $343.54.

Mill Capital Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,102 shares of the information services provider's stock after selling 7,622 shares during the period. Alphabet makes up approximately 7.6% of Mill Capital Management LLC's holdings, making the stock its 3rd biggest holding. Mill Capital Management LLC's holdings in Alphabet were worth $114,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Brighton Jones LLC raised its stake in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake 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 buying an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Alphabet in the 2nd quarter worth $658,000. Financial Advisors Network Inc. grew 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 worth $1,409,000 after buying an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its holdings in shares of Alphabet by 10.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock worth $6,618,000 after buying an additional 3,616 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOG shares. The Goldman Sachs Group restated a "buy" rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Morgan Stanley dropped their price target on Alphabet from $415.00 to $400.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Piper Sandler reissued an "overweight" rating and set a $395.00 price objective (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. DZ Bank upgraded Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Scotiabank reaffirmed an "outperform" rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $415.55.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,945 shares of company stock worth $12,382,714 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.1%

Shares of GOOG opened at $343.54 on Friday. The company's fifty day simple moving average is $352.09 and its 200-day simple moving average is $339.57. The company has a market cap of $4.20 trillion, a P/E ratio of 17.25, a P/E/G ratio of 0.96 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $197.46 and a twelve month high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $6.24. The firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 EPS. As a group, analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 4.42%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway significantly increased its Alphabet position. Berkshire owned approximately 106 million shares worth $37.9 billion at the end of June after raising its stake by 83% during the second quarter. Alphabet is now Berkshire’s third-largest U.S.-listed equity holding, a notable vote of confidence under CEO Greg Abel. Berkshire Hathaway boosts Alphabet to a top three holding
• Positive Sentiment: Digital advertising estimates improved. July advertiser spending exceeded consensus expectations, supporting the outlook for Alphabet’s core advertising business. Alphabet also launched Gemini 3.7 Flash for coding and automated business workflows, potentially expanding monetization opportunities in enterprise AI. Internet stock advertising estimate revisions
• Positive Sentiment: Alphabet’s SpaceX investment has become a major unrealized asset. The company disclosed that its roughly $900 million investment in SpaceX is now worth about $94 billion, highlighting the value of Alphabet’s venture portfolio, although the gain does not directly represent operating revenue or cash flow. Alphabet’s SpaceX bet grows 100-fold
• Positive Sentiment: Other institutions also added exposure. UniSuper increased its GOOG and GOOGL holdings, while several major funds reported purchases, reinforcing the perception that Alphabet remains attractively valued after its recent pullback.
• Neutral Sentiment: Google expanded Gemini access in schools and introduced tools allowing users to remove visible watermarks from AI-generated content while retaining invisible SynthID protections. These moves could improve adoption but have uncertain near-term financial effects. Google turns on Gemini AI for students
• Negative Sentiment: Gemini lost chatbot-visit share to ChatGPT in July. Although Gemini surpassed one billion monthly active users, its share of chatbot visits fell to 28.8%, raising concerns about competitive momentum in consumer AI.
• Negative Sentiment: AI investment is pressuring cash flow. Analysts continue to flag Alphabet’s very high data-center and chip spending, with some estimates showing weaker free-cash-flow generation than Microsoft and Meta in 2027.
• Negative Sentiment: Several funds reduced Alphabet positions. Barclays, Franklin Resources, Magellan and other managers reported trimming GOOG or GOOGL holdings, partially offsetting Berkshire’s large purchase. Alphabet also faces reputational risk from a reported Google-ad phishing scam and a law-firm investigation of investor claims.

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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