Whittier Trust Co. Sells 75,259 Shares of Alphabet Inc. $GOOG

Key Points

• Whittier Trust Co. cut its Alphabet stake by 4.8% in Q1, selling 75,259 shares and ending with 1,490,983 shares valued at about $443.8 million. Alphabet remained its third-largest holding, making up roughly 5% of the portfolio.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus the $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year. The company also raised its quarterly dividend to $0.22 per share from $0.21.
• Analysts remain broadly bullish on GOOG, citing Alphabet’s AI and cloud advantages, with a consensus rating of Buy and an average price target of $376.19. Several firms recently lifted targets, including JPMorgan to $460 and Oppenheimer to $445.

Whittier Trust Co. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,490,983 shares of the information services provider's stock after selling 75,259 shares during the quarter. Alphabet makes up about 5.0% of Whittier Trust Co.'s holdings, making the stock its 3rd biggest position. Whittier Trust Co.'s holdings in Alphabet were worth $443,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Imprint Wealth LLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. acquired a new position in Alphabet in the fourth quarter valued at about $38,000. Bard Associates Inc. bought a new stake in shares of Alphabet during the fourth quarter worth $41,000. Finally, Towne Trust Company N.A raised its position in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts and market commentators highlighted Alphabet’s AI advantage, arguing that its control of Search, Android, YouTube, Google Cloud and its chip/model stack gives it one of the best paths to monetize AI at scale. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Google Cloud-related partnerships remain a tailwind, including Accenture’s launch of agentic AI solutions built with Alphabet’s Google Cloud for mid-market firms, reinforcing demand for its enterprise AI offerings. Accenture and Alphabet (GOOGL) Launch Agentic AI Solutions for Mid-Market Firms
• Positive Sentiment: Alphabet’s strong quarterly results and cloud growth continue to drive bullish takes, with investors pointing to revenue growth, AI spending efficiency, and improving profitability as reasons the stock could outperform. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of Alphabet 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 transaction, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,465 shares of company stock worth $8,020,511 in the last three months. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. KeyCorp reaffirmed an "overweight" rating on shares of Alphabet in a research note on Wednesday, May 20th. Oppenheimer boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $376.19.

Alphabet Price Performance

NASDAQ:GOOG opened at $356.24 on Friday. Alphabet Inc. has a 1-year low of $175.74 and a 1-year high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $369.66 and a 200 day simple moving average of $335.08. The stock has a market capitalization of $4.32 trillion, a PE ratio of 27.17, a P/E/G ratio of 1.53 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 earnings per share. On average, research analysts expect that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued 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 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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