Alphabet Inc. $GOOG is Essex Bank’s 9th Largest Position

Essex Bank decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,049 shares of the information services provider’s stock after selling 4,744 shares during the period. Alphabet accounts for approximately 1.9% of Essex Bank’s portfolio, making the stock its 9th biggest position. Essex Bank’s holdings in Alphabet were worth $8,620,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GOOG. Kathmere Capital Management LLC increased its stake in shares of Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock worth $9,381,000 after purchasing an additional 2,341 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Alphabet by 0.9% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock valued at $53,920,000 after purchasing an additional 2,009 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after purchasing an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares during the last quarter. Finally, World Investment Advisors boosted its holdings in Alphabet by 8.7% in the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $59,827,000 after purchasing an additional 15,280 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOG. Pivotal Research reissued a “buy” rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research note on Monday. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. upped their target price on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $376.78.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average on June 29, replacing Verizon. That index upgrade can lift demand from index funds and reinforces Alphabet’s status as a blue-chip tech leader. Alphabet replacing Verizon in Dow Jones Industrial Average index
• Positive Sentiment: Google Finance launched a major overhaul with a new Android app, global portfolio-tracking tools, AI features, and real-time market data, adding another consumer-facing product update to Alphabet’s ecosystem. Google Finance Debuts App and Investment Tracking Capabilities
• Neutral Sentiment: Alphabet was cited in a proposed AI Bubble Transparency Act that would increase reporting on AI-related financing exposure. This is more of a policy backdrop than an immediate earnings impact, but it highlights rising scrutiny around the AI sector. New Bill: Senator Elizabeth Warren introduces S. 4743: AI Bubble Transparency Act
• Negative Sentiment: Investor sentiment has been hurt by reports that two more top AI researchers are leaving Google for Anthropic, extending a wave of departures that raises questions about talent retention and Alphabet’s competitive position in AI. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Additional coverage says the AI talent exodus is continuing and that Gemini may be lagging rivals, which is fueling concern that Alphabet is losing momentum in one of its most important growth areas. AI researchers continue to leave Google for its rivals
• Negative Sentiment: Alphabet also faced a separate headline that Gemini 3.5 Pro’s release was delayed, adding to worries that product execution in AI is slipping while rivals move quickly. Alphabet Delays Release of Gemini 3.5 Pro AI Model

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the sale, the director directly owned 18,721 shares in the company, valued at approximately $7,132,701. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 151,523 shares of company stock worth $4,863,526. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.8%

Alphabet stock opened at $342.19 on Friday. Alphabet Inc. has a 52 week low of $170.86 and a 52 week high of $404.47. 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 firm has a market capitalization of $4.15 trillion, a PE ratio of 26.10, a PEG ratio of 1.48 and a beta of 1.22. The business’s 50-day simple moving average is $366.32 and its 200-day simple moving average is $331.92.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.81 EPS. Equities research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 6.71%.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.