NBT Bank N A NY Has $41.52 Million Position in Alphabet Inc. $GOOG

Key Points

• NBT Bank N A NY trimmed its Alphabet stake by 2.3% in the first quarter, but still held 144,723 shares worth about $41.5 million, making GOOG its fifth-largest position.
• Alphabet reported strong Q1 earnings, with EPS of $5.11 beating estimates by $2.43 and revenue rising 21.8% year over year to $109.9 billion.
• Investor sentiment remains broadly positive, with analysts maintaining a Buy consensus and recent headlines highlighting Waymo’s planned expansion, AI-related growth themes, and a modest quarterly dividend increase to $0.22 per share.

NBT Bank N A NY cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,723 shares of the information services provider's stock after selling 3,456 shares during the period. Alphabet makes up about 2.7% of NBT Bank N A NY's holdings, making the stock its 5th biggest position. NBT Bank N A NY's holdings in Alphabet were worth $41,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Imprint Wealth LLC purchased a new stake in Alphabet during the third quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet in the fourth quarter worth approximately $38,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet in the fourth quarter worth approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $41,000. Finally, Towne Trust Company N.A raised its holdings in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Friday, June 26th. The stock was 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. This represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 160,465 shares of company stock valued at $8,020,511. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOG stock opened at $358.71 on Thursday. The firm has a 50 day moving average of $369.48 and a two-hundred day moving average of $334.74. Alphabet Inc. has a 12 month low of $173.88 and a 12 month high of $404.47. The company has a market capitalization of $4.35 trillion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

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 analysts' consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter last year, the firm earned $2.81 EPS. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities 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. Investors of record on Monday, June 8th were paid a $0.22 dividend. 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. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is 6.71%.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Scotiabank restated an "outperform" rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Wells Fargo & Company set a $416.00 target price on Alphabet in a report on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Finally, Oppenheimer upped their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Four 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $376.19.

Key Headlines Impacting Alphabet

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 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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