Sky Investment Group LLC Has $11.09 Million Stock Position in Alphabet Inc. $GOOG

Sky Investment Group LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the first quarter, HoldingsChannel.com reports. The firm owned 38,641 shares of the information services provider’s stock after selling 2,114 shares during the quarter. Alphabet makes up 1.9% of Sky Investment Group LLC’s portfolio, making the stock its 11th biggest position. Sky Investment Group LLC’s holdings in Alphabet were worth $11,085,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GOOG. Auto Owners Insurance Co raised its stake in shares of Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after buying an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP boosted its stake in Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after acquiring an additional 111,699,704 shares during the last quarter. Norges Bank acquired a new stake in Alphabet during the 4th quarter worth $18,093,665,000. Cardano Risk Management B.V. grew its holdings in Alphabet by 850.3% during the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after acquiring an additional 15,830,754 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOG. Oppenheimer raised their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. TD Cowen upped their price objective on Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Needham & Company LLC set a $400.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Pivotal Research restated 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. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $376.78.

Alphabet Price Performance

Shares of GOOG stock opened at $346.55 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $166.91 and a 12-month high of $404.47. The firm has a fifty day moving average of $365.57 and a 200-day moving average of $331.59. The firm has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for 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 was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.81 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is 6.71%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 160,516 shares of company stock valued at $7,344,604 over the last 90 days. Insiders own 12.99% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, a move that should boost its visibility and could support index-fund demand. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average
• Positive Sentiment: Analysts continued to point to Alphabet’s strong AI infrastructure demand and Google Cloud growth as reasons for long-term upside. Alphabet Rides on Accelerating AI Infrastructure Demand: What’s Ahead?
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with film studio A24, underscoring continued experimentation with new AI use cases. Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investor sentiment weakened after reports that another top AI scientist, John Jumper, left DeepMind for Anthropic, adding to fears of an AI brain drain. Google’s YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Broader market coverage highlighted worries about Alphabet’s heavy AI capital spending and the dilution risk tied to its large equity raise, which has pressured the stock. Alphabet Slides as AI Funding Plan Fuels Dilution Worries

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.