Trinity Street Asset Management LLP Cuts Holdings in Alphabet Inc. $GOOGL

Key Points

• Trinity Street Asset Management reduced its Alphabet stake by 1.9% in the first quarter, selling 2,880 shares and leaving it with 146,116 shares worth about $42.0 million.
• Insider selling continued, with director Frances Arnold and insider John Kent Walker both trimming their holdings; Alphabet insiders sold 160,465 shares over the last 90 days.
• Alphabet reported strong quarterly results, beating earnings and revenue estimates, while also raising its quarterly dividend to $0.22 per share from $0.21.

Trinity Street Asset Management LLP cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,116 shares of the information services provider's stock after selling 2,880 shares during the period. Alphabet accounts for 2.9% of Trinity Street Asset Management LLP's portfolio, making the stock its 6th biggest position. Trinity Street Asset Management LLP's holdings in Alphabet were worth $42,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EMC Capital Management purchased a new position in Alphabet during the 4th quarter valued at $33,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet during the 4th quarter valued at about $32,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $52,000. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 112 shares of the business'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 approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 160,465 shares of company stock valued at $8,020,511. Corporate insiders own 11.61% of the company's stock.

Alphabet Stock Down 1.4%

NASDAQ:GOOGL opened at $361.92 on Thursday. The firm has a market cap of $4.39 trillion, a P/E ratio of 27.61, a P/E/G ratio of 1.57 and a beta of 1.24. 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 firm has a 50-day simple moving average of $372.28 and a two-hundred day simple moving average of $335.93. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. 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%. Alphabet's dividend payout ratio is currently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo plans to expand driverless rides to four more major cities this year, with a phased rollout that could broaden Alphabet’s autonomous vehicle opportunity and reinforce its leadership in robotaxis. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Alphabet continues to be highlighted as a beneficiary of massive AI infrastructure spending, with analysts pointing to strong demand for cloud expansion, data centers, and AI hardware. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Alphabet was cited as an indirect way to gain exposure to Anthropic ahead of a possible IPO, since the company already holds a major private stake in the AI startup. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There (GOOGL)
• Positive Sentiment: Berkshire Hathaway reportedly added a $10 billion private placement investment in Alphabet, a sign of institutional confidence that could support sentiment in the stock. Warren Buffett's Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Cognizant deepened its Google Cloud partnership to accelerate enterprise AI adoption, which underscores Alphabet’s cloud relevance but is not a direct financial catalyst by itself. Cognizant Strengthens AI Portfolio Through Google Cloud Partnership
• Neutral Sentiment: Google’s upcoming Pixel launch event on August 12 keeps hardware in view, but this is more of a product-calendar reminder than an immediate stock-moving catalyst. Google's Pixel event is set for August 12
• Negative Sentiment: Google updated the Chrome Web Store to ban prediction market transactions, a policy move that may be seen as restrictive and could attract backlash from affected users and developers. Google Bans Prediction Market Transactions Amid Backlash
• Negative Sentiment: One article noted Alphabet shares were already slipping versus the broader market, adding to the intraday weakness as traders weigh valuation and AI competition concerns. Alphabet Inc. (GOOG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Daiwa Securities Group raised their price objective on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. President Capital increased their target price on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. HSBC restated a "buy" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Truist Financial set a $430.00 price target on Alphabet and gave the stock a "buy" rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $413.54.

About Alphabet

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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