Worth Asset Management LLC Cuts Holdings in Alphabet Inc. $GOOGL

Key Points

• Worth Asset Management LLC cut its Alphabet stake by 55.7% in the first quarter, selling 4,877 shares and leaving it with 3,882 shares worth about $1.12 million.
• Despite the trim by one investor, Alphabet remains widely held by institutions, with hedge funds and other institutional investors owning about 40.03% of the company’s stock.
• Wall Street sentiment stays constructive: analysts rate Alphabet a Moderate Buy on average, with a consensus price target of $413.13, while the stock recently traded down 1.8% to $337.39.

Worth Asset Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 55.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,882 shares of the information services provider's stock after selling 4,877 shares during the period. Worth Asset Management LLC's holdings in Alphabet were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC MO lifted its stake in shares of Alphabet by 3.9% during the 1st quarter. Stonebridge Financial Group LLC MO now owns 8,664 shares of the information services provider's stock worth $2,491,000 after purchasing an additional 329 shares during the last quarter. Sovereign Financial Group Inc. grew its stake in Alphabet by 152.7% in the first quarter. Sovereign Financial Group Inc. now owns 37,709 shares of the information services provider's stock valued at $10,844,000 after purchasing an additional 109,271 shares during the last quarter. Robbins Farley grew its stake in Alphabet by 23.5% in the first quarter. Robbins Farley now owns 17,629 shares of the information services provider's stock valued at $5,069,000 after purchasing an additional 3,353 shares during the last quarter. Hendley & Co. Inc. grew its position in shares of Alphabet by 10.1% in the 1st quarter. Hendley & Co. Inc. now owns 10,458 shares of the information services provider's stock worth $3,007,000 after buying an additional 960 shares during the last quarter. Finally, Athena Wealth Management LLC grew its position in shares of Alphabet by 47.4% in the 1st quarter. Athena Wealth Management LLC now owns 5,647 shares of the information services provider's stock worth $1,624,000 after buying an additional 1,817 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here's Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America raised their target price on shares of Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Daiwa Securities Group increased their price objective on Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Jefferies Financial Group reissued a "buy" rating on shares of Alphabet in a research report on Monday, June 22nd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $425.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $413.13.

Alphabet Trading Down 1.8%

NASDAQ:GOOGL opened at $337.39 on Friday. The company has a market capitalization of $4.09 trillion, a P/E ratio of 25.74, a PEG ratio of 1.44 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $171.73 and a 12 month high of $408.61. The firm has a fifty day simple moving average of $368.94 and a 200-day simple moving average of $332.88.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results 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 firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's dividend payout ratio is currently 6.71%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director owned 2,531 shares in the company, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 151,523 shares of company stock valued at $4,863,526. 11.61% of the stock is owned by company insiders.

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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