Minot DeBlois Advisors LLC Reduces Stock Holdings in Alphabet Inc. $GOOGL

Minot DeBlois Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 78.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 430 shares of the information services provider’s stock after selling 1,535 shares during the period. Minot DeBlois Advisors LLC’s holdings in Alphabet were worth $135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. PMV Capital Advisers LLC purchased a new stake in Alphabet in the fourth quarter worth $38,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter worth $52,000. Kentucky Trust Co lifted its stake in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after acquiring an additional 100 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in Alphabet in the third quarter worth $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 191,966 shares of company stock valued at $16,963,968. 11.61% of the stock is currently owned by insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Arete Research increased their price objective on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, May 18th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, May 20th. New Street Research increased their price objective on Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Dbs Bank increased their price objective on Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $369.35 on Tuesday. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61. 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 business has a fifty day moving average price of $361.93 and a 200-day moving average price of $330.66. The company has a market capitalization of $4.48 trillion, a PE ratio of 28.17, a PEG ratio of 1.54 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share 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 during the quarter, compared to the consensus estimate of $106.98 billion. As a group, equities analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is 6.71%.

Alphabet Company 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.