Sit Investment Associates Inc. Cuts Position in Alphabet Inc. $GOOG

Sit Investment Associates Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 10.9% during the fourth quarter, Holdings Channel reports. The fund owned 84,125 shares of the information services provider’s stock after selling 10,325 shares during the period. Sit Investment Associates Inc.’s holdings in Alphabet were worth $26,398,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ring Mountain Capital LLC raised its holdings in shares of Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after buying an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. raised its stake in shares of Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after acquiring an additional 30 shares in the last quarter. HRC Wealth Management LLC lifted its holdings in shares of Alphabet by 1.0% in the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after acquiring an additional 31 shares during the last quarter. Certior Financial Group LLC boosted its stake in shares of Alphabet by 3.5% in the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 31 shares in the last quarter. Finally, Synergy Investment Management LLC boosted its stake in shares of Alphabet by 0.8% in the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock valued at $1,294,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GOOG. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 1st. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research note on Wednesday, May 20th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Truist Financial set a $430.00 target price on Alphabet in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $376.78.

Alphabet Price Performance

GOOG stock opened at $367.46 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The firm has a 50-day moving average of $364.31 and a 200 day moving average of $331.07. The company has a market cap of $4.45 trillion, a P/E ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. 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 analysts’ expectations of $106.96 billion. During the same period in the previous year, the firm posted $2.81 EPS. The business’s revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. 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%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.71%.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,516 shares of company stock valued at $7,344,604 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

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.