Davidson Trust Co. Has $1.45 Million Holdings in Alphabet Inc. $GOOGL

Davidson Trust Co. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 28.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,049 shares of the information services provider’s stock after selling 2,000 shares during the period. Davidson Trust Co.’s holdings in Alphabet were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Alphabet in the 4th quarter worth approximately $30,534,239,000. Berkshire Hathaway Inc bought a new position in Alphabet in the 3rd quarter valued at $4,338,397,000. Cardano Risk Management B.V. boosted its position in Alphabet by 855.3% in the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after buying an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares during the period. Finally, Capital World Investors increased its stake in shares of Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after buying an additional 11,605,785 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Insider Buying and Selling at Alphabet

In related 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 transaction 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 filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,465 shares of company stock worth $8,020,511 in the last three months. 11.61% of the stock is owned by insiders.

Alphabet Stock Up 1.1%

Shares of NASDAQ GOOGL opened at $361.21 on Thursday. Alphabet Inc. has a 52-week low of $172.77 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 has a market cap of $4.38 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.53 and a beta of 1.24. The firm has a 50 day moving average price of $370.08 and a 200 day moving average price of $333.88.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Susquehanna restated a “positive” rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $450.00 price target on shares of Alphabet in a report on Wednesday, June 3rd. Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Thursday, April 30th. Rosenblatt Securities reissued a “neutral” rating and set a $393.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Finally, China Renaissance upped their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Two 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $413.90.

About Alphabet

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.