Walter Public Investments Inc. Sells 42,079 Shares of Alphabet Inc. $GOOG

Key Points

• Walter Public Investments cut its Alphabet stake by 35.9% in the first quarter, selling 42,079 shares and leaving it with 75,105 shares valued at about $21.5 million. Alphabet still ranks as the firm’s second-largest holding and makes up roughly 5.2% of its portfolio.
• Analysts remain bullish on GOOG, with several firms reiterating buy or overweight ratings and raising price targets as high as $475. The stock currently carries a consensus “Buy” rating and an average price target of $376.19.
• Alphabet reported strong recent results, including Q1 EPS of $5.11 versus $2.68 expected and revenue of $109.9 billion, up 21.8% year over year. The company also raised its quarterly dividend to $0.22 from $0.21.

Walter Public Investments Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,105 shares of the information services provider's stock after selling 42,079 shares during the period. Alphabet comprises about 5.2% of Walter Public Investments Inc.'s portfolio, making the stock its 2nd largest holding. Walter Public Investments Inc.'s holdings in Alphabet were worth $21,545,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOG. Imprint Wealth LLC acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in Alphabet during the fourth quarter worth $38,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the fourth quarter valued at $38,000. Bard Associates Inc. purchased a new position in Alphabet during the fourth quarter valued at $41,000. Finally, Towne Trust Company N.A grew its position in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GOOG shares. Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a research report on Wednesday, May 20th. KeyCorp reiterated an "overweight" rating on shares of Alphabet in a report on Wednesday, May 20th. Raymond James Financial reiterated a "strong-buy" rating and set a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. The Goldman Sachs Group reissued a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Finally, TD Cowen raised their target price on Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Four research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $376.19.

Insiders Place Their Bets

In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares of the company's stock, valued at $545,941.03. The trade was 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 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is currently owned by company insiders.

Trending Headlines about 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 Stock Down 1.4%

NASDAQ GOOG opened at $358.71 on Thursday. Alphabet Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $369.48 and its 200-day simple moving average is $334.74. The firm has a market cap of $4.35 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same period last year, the business earned $2.81 earnings per share. Alphabet's revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio is currently 6.71%.

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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