United Asset Strategies Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,195 shares of the information services provider's stock after selling 3,602 shares during the quarter. Alphabet makes up approximately 4.7% of United Asset Strategies Inc.'s portfolio, making the stock its 2nd biggest position. United Asset Strategies Inc.'s holdings in Alphabet were worth $58,718,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clare Market Investments LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $24,181,000. Advance Capital Management Inc. raised its position in shares of Alphabet by 3.0% during the first quarter. Advance Capital Management Inc. now owns 8,704 shares of the information services provider's stock worth $2,503,000 after acquiring an additional 251 shares during the last quarter. Downshift Financial LLC raised its position in shares of Alphabet by 91.6% during the first quarter. Downshift Financial LLC now owns 1,732 shares of the information services provider's stock worth $498,000 after acquiring an additional 828 shares during the last quarter. Strata Wealth Advisors LLC lifted its stake in shares of Alphabet by 9.4% in the first quarter. Strata Wealth Advisors LLC now owns 1,647 shares of the information services provider's stock worth $474,000 after acquiring an additional 142 shares during the period. Finally, Investment Advisory Services Group LLC lifted its stake in shares of Alphabet by 4.5% in the first quarter. Investment Advisory Services Group LLC now owns 7,805 shares of the information services provider's stock worth $2,244,000 after acquiring an additional 335 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GOOGL has been the subject of a number of recent analyst reports. Barclays reissued a "buy" rating on shares of Alphabet in a research report on Friday, May 29th. Sanford C. Bernstein restated a "market perform" rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Loop Capital upped their price objective on shares of Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Truist Financial set a $430.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a research report on Friday, May 29th. Finally, Dbs Bank lifted their target price on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $413.73.
Check Out Our Latest Report on GOOGL
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 112 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is owned by insiders.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Warren Buffett said he initiated Berkshire Hathaway’s Alphabet investment, a high-profile endorsement that is helping sentiment around Alphabet (GOOGL). Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
- Positive Sentiment: Multiple analyst previews say Alphabet’s AI momentum, cloud backlog, and earnings growth expectations could support another strong quarter, keeping investors upbeat ahead of results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
- Positive Sentiment: Zacks upgraded Alphabet to strong-buy, citing earnings growth expectations and attractive fundamentals relative to its valuation. Zacks upgrade to strong-buy
- Neutral Sentiment: Alphabet expanded its clean-energy commitments with its largest solar and battery storage purchase yet, which supports its long-term infrastructure strategy but is not an immediate earnings driver. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
- Neutral Sentiment: Alphabet also drew attention for a new collaboration with INVIDI Technologies to extend addressable advertising to set-top boxes, a potentially helpful ad-tech expansion but still early-stage. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager
- Negative Sentiment: The European Commission is preparing new fines against Google, renewing regulatory risk and adding pressure to Alphabet’s legal overhang. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
- Negative Sentiment: Google is also fighting antitrust scrutiny in Europe and Switzerland, including efforts to preserve a court ruling that overturned a $1.7 billion EU fine and a new Swiss probe over Android search defaults. Google urges EU top court to back ruling scrapping $1.7 billion antitrust fine
- Negative Sentiment: Separate reports raised concerns about Google’s AI search tools and a DeepMind researcher’s resignation over the company’s Pentagon work, both of which could add reputational risk. A DeepMind researcher resigned over its AI military deal
Alphabet Price Performance
Alphabet stock opened at $370.92 on Thursday. The stock has a market capitalization of $4.49 trillion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.54 and a beta of 1.24. Alphabet Inc. has a 52-week low of $180.48 and a 52-week high of $408.61. 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 stock's 50 day moving average price is $370.84 and its two-hundred day moving average price is $337.62.
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 for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's dividend payout ratio is 6.71%.
About Alphabet
(
Free Report)
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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