Beacon Bank & Trust Has $15.30 Million Position in Alphabet Inc. $GOOGL

Beacon Bank & Trust trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the first quarter, Holdings Channel.com reports. The firm owned 53,192 shares of the information services provider’s stock after selling 2,010 shares during the period. Alphabet accounts for approximately 3.1% of Beacon Bank & Trust’s holdings, making the stock its 7th largest position. Beacon Bank & Trust’s holdings in Alphabet were worth $15,296,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. CICC Research upped their price target on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research note on Friday, May 1st. Citizens Jmp reaffirmed a “market outperform” rating and issued a $515.00 price target on shares of Alphabet in a research note on Wednesday, May 20th. Rothschild & Co Redburn increased their price target on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. President Capital lifted their price objective on shares of Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, BNP Paribas Exane boosted their price objective on shares of Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $413.73.

Key Alphabet News

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?

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,415 shares of company stock worth $7,672,279. Insiders own 11.61% of the company’s stock.

Alphabet Stock Up 2.0%

GOOGL stock opened at $359.51 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock 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. Alphabet Inc. has a fifty-two week low of $180.48 and a fifty-two week high of $408.61. The business has a 50-day moving average of $371.39 and a 200-day moving average of $337.22.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s payout ratio is currently 6.71%.

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.