Canvas Wealth Advisors LLC Sells 1,822 Shares of Alphabet Inc. $GOOGL

Canvas Wealth Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,058 shares of the information services provider’s stock after selling 1,822 shares during the quarter. Alphabet accounts for 5.7% of Canvas Wealth Advisors LLC’s portfolio, making the stock its 2nd largest position. Canvas Wealth Advisors LLC’s holdings in Alphabet were worth $33,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. EMC Capital Management acquired a new position in Alphabet in the fourth quarter worth $33,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the 4th quarter valued at $32,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet during the fourth quarter worth $38,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet in the fourth quarter worth about $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet during the 4th quarter valued at about $52,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being highlighted by analysts and market commentators as a top large-cap or “monopoly” stock, with bullish takes pointing to its AI-enabled ad business, cloud exposure, and strong earnings outlook. Here’s Why Alphabet (GOOGL) Is One of the Best Monopoly Stocks to Buy According to Hedge Funds
• Positive Sentiment: Google DeepMind chief Demis Hassabis called for a U.S.-led AI standards body, reinforcing Alphabet’s leadership role in frontier AI development and potentially supporting long-term investor confidence. Google DeepMind chief Demis Hassabis calls for U.S. to spearhead AI standards body
• Positive Sentiment: INVIDI announced a collaboration with Google to expand addressable advertising on unconnected set-top boxes, a potentially incremental ad monetization opportunity for Alphabet. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager…
• Neutral Sentiment: Several reports say Alphabet continues to outperform the market and remains favored by growth investors, but these are mostly commentary pieces rather than new business developments. Alphabet Inc. (GOOG) Exceeds Market Returns: Some Facts to Consider
• Neutral Sentiment: Investors are also digesting broader optimism around Alphabet’s valuation, cash generation, and AI chip strategy, which supports the stock but does not appear to be the main driver of the move. Google Vs. Nvidia: The Hidden Silicon Advantage That Could Let Google Dethrone Nvidia
• Negative Sentiment: Alphabet is facing fresh antitrust scrutiny in Switzerland over the removal of the Android “choice screen,” adding to regulatory pressure on its search dominance. Google probed by Swiss regulator over Android default search feature
• Negative Sentiment: Google also faces a new class-action lawsuit from publishers and authors alleging improper use of copyrighted works to train Gemini, raising legal and potential cost risks. Google faces another AI training lawsuit from major publishers
• Negative Sentiment: UK and Swiss regulatory actions targeting Google Search and Android data portability also weigh on sentiment because they could weaken Alphabet’s search moat over time. Should UK Search Data Portability Rules For Google Reshape Alphabet’s Competitive Moat (GOOGL) Narrative?

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOGL shares. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Thursday, April 30th. Dbs Bank boosted their target price on Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Phillip Securities increased their target price on Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a research note on Wednesday, April 15th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $515.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.73.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $359.51 on Wednesday. The stock has a 50 day moving average of $371.39 and a 200-day moving average of $337.22. Alphabet Inc. has a 12 month low of $180.48 and a 12 month high of $408.61. The company has a market capitalization of $4.36 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.51 and a beta of 1.24. 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 (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, equities research analysts predict that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. 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 yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The shares were 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 owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,415 shares of company stock valued at $7,672,279 in the last ninety days. Insiders own 11.61% of the company’s stock.

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.