Alphabet Inc. $GOOG Shares Sold by Canton Hathaway LLC

Canton Hathaway LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 4.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,245 shares of the information services provider’s stock after selling 1,800 shares during the period. Alphabet comprises approximately 2.4% of Canton Hathaway LLC’s investment portfolio, making the stock its 4th biggest position. Canton Hathaway LLC’s holdings in Alphabet were worth $12,453,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Imprint Wealth LLC acquired a new position in Alphabet in the 3rd quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $41,000. Finally, Towne Trust Company N.A increased its position in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Alphabet from $460.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. TD Cowen reissued a “buy” rating and issued a $475.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Wedbush began coverage on shares of Alphabet in a research report on Thursday, July 16th. They set an “outperform” rating and a $445.00 price objective for the company. HSBC set a $515.00 price objective on shares of Alphabet in a report on Friday, August 14th. Finally, Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Friday, August 14th. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $415.55.

Insider Buying and Selling at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,945 shares of company stock worth $12,382,714 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $338.20 on Friday. Alphabet Inc. has a 52-week low of $200.40 and a 52-week high of $404.47. The firm has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.96 and a beta of 1.23. The company has a fifty day simple moving average of $350.67 and a 200-day simple moving average of $339.72. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. The business had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 4.42%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway increased its Alphabet position: Berkshire disclosed that it raised its Alphabet stake by 83% in the second quarter to nearly 106 million shares valued at approximately $37.8 billion. Warren Buffett said the investment was his idea, providing a significant vote of confidence in Alphabet’s valuation and AI prospects. Warren Buffett’s Empire Just Made a Massive AI Bet Nobody Saw Coming
• Positive Sentiment: Analyst remains bullish: Rosenblatt Securities initiated coverage with a “Buy” rating, while analyst Scott Devitt reportedly expects Alphabet to reach a new record high over the next 12 months. This may help counter recent concerns about the stock’s pullback. Alphabet receives Rosenblatt Buy rating
• Positive Sentiment: Waymo expanded its commercial technology: Alphabet’s autonomous-driving unit introduced an in-house chip capable of more than 1,000 trillion operations per second and opened its cheaper next-generation robotaxi to all riders in Los Angeles, Phoenix and San Francisco. The moves could reduce reliance on Nvidia and lower fleet costs over time. Waymo’s cheaper, next-gen robotaxi is now open to all riders
• Neutral Sentiment: Google is broadening AI monetization: New Gemini Enterprise coding capabilities, student tools and publisher “favorite source” controls support product adoption, although their near-term revenue impact remains uncertain. Google launches new study tools
• Negative Sentiment: AI spending is increasing financial pressure: Alphabet raised approximately $3.9 billion in its first Australian-dollar bond sale as it funds its AI infrastructure expansion. Borrowing supports growth but raises interest costs and reinforces investor concerns about the scale of capital expenditures. Alphabet raises $3.9 billion in Australian bond sale
• Negative Sentiment: Marvell adds competitive risk: Google agreed to develop custom silicon with Marvell and received warrants to potentially acquire nearly 59 million Marvell shares. The arrangement could diversify Google’s supply chain but raises questions about Broadcom’s share of Google’s TPU ecosystem and the cost of maintaining multiple chip partnerships. Marvell pops on Google AI chip deal
• Negative Sentiment: Execution and legal concerns remain: Prediction markets indicate a likely delay for Google’s flagship Gemini Pro release, while a court postponed approval of Google’s $10 million Spirit Airlines data purchase after union objections over confidential information. Former Google chief scientist Jeff Dean’s departure also adds to leadership uncertainty in AI. Traders bet Google’s delayed Gemini flagship will slip into autumn

About Alphabet

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.