Rockland Trust Co. Has $145.72 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Rockland Trust reduced its Alphabet stake by 8.8% in the second quarter, selling 39,479 shares. It still held 407,768 shares worth approximately $145.7 million, making Alphabet 5.7% of its portfolio and its largest position.
• Analysts remain broadly positive, with a consensus “Buy” rating and average price target of $419.86. Alphabet also exceeded quarterly expectations, reporting $9.11 in earnings per share and $119.8 billion in revenue.
• Alphabet faces competing pressures despite strong investor interest, including rising AI spending, competitive threats to its custom-chip strategy and a recent Zacks downgrade to “Hold.” Insiders have sold roughly $12.4 million of stock over the past 90 days.

Rockland Trust Co. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,768 shares of the information services provider's stock after selling 39,479 shares during the quarter. Alphabet comprises 5.7% of Rockland Trust Co.'s holdings, making the stock its biggest position. Rockland Trust Co.'s holdings in Alphabet were worth $145,724,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its stake in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after acquiring an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after acquiring an additional 48,805 shares during the last quarter. Finally, United Bank increased its holdings in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after acquiring an additional 3,120 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GOOGL shares. UBS Group decreased their price objective on shares of Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Wells Fargo & Company set a $411.00 price target on shares of Alphabet and gave the company an "overweight" rating in a research note on Thursday, July 23rd. President Capital upped their price target on shares of Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Zacks Research downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Citigroup reissued an "outperform" rating on shares of Alphabet in a report on Monday, May 4th. Five investment analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and a consensus price target of $419.86.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 451,945 shares of company stock worth $12,382,714. Corporate insiders own 11.61% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway sharply 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% in the second quarter. Alphabet is now Berkshire’s third-largest U.S.-listed equity holding, a high-profile vote of confidence under CEO Greg Abel. Berkshire Hathaway boosts Alphabet to a top three holding
• Positive Sentiment: Alphabet’s SpaceX investment has become exceptionally valuable. The company disclosed that its roughly $900 million investment in SpaceX in 2015 was worth about $94 billion at the end of June. The gain highlights Alphabet’s ability to generate returns from strategic investments, although it is not recurring operating revenue. Alphabet's SpaceX bet grows 100-fold over a decade
• Positive Sentiment: Google launched Gemini 3.7 Flash for coding and automated business workflows. The new model could strengthen Alphabet’s position in enterprise AI and agent-based software, although investors are still awaiting details on the flagship Gemini Pro release. Google unveils Gemini 3.7 Flash AI model
• Neutral Sentiment: Google will let users remove visible watermarks from AI-generated images, videos and songs while retaining invisible SynthID and C2PA metadata. The policy may improve user flexibility but could raise questions about content provenance and misuse. Google will now allow users to remove visible watermark from its AI generations
• Negative Sentiment: AI investment and competitive pressures remain overhangs. Reports cite rising AI capital expenditures and cash-flow pressure, while Nvidia’s large financing arrangement could challenge Alphabet’s custom-chip strategy. Traders also reduced expectations for an imminent Gemini Pro launch. Alphabet's stock slips as Nvidia financing deal threatens custom chips
• Negative Sentiment: Zacks Research downgraded Alphabet from “strong buy” to “hold,” reflecting valuation and spending concerns. In addition, Pomerantz announced an investigation into potential investor claims, creating a modest legal-risk overhang. GOOGL Down 19% From 52-Week High

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $345.90 on Friday. 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 12 month low of $196.60 and a 12 month high of $408.61. The company has a 50 day simple moving average of $353.66 and a two-hundred day simple moving average of $341.10. The stock has a market cap of $4.23 trillion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.97 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. As a group, analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

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

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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