Conning Inc. Sells 3,368 Shares of Alphabet Inc. $GOOG

Conning Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 13.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 22,032 shares of the information services provider’s stock after selling 3,368 shares during the period. Conning Inc.’s holdings in Alphabet were worth $6,320,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Imprint Wealth LLC purchased a new position in shares of Alphabet during the third quarter valued at about $31,000. Nvest Wealth Strategies Inc. bought a new position in Alphabet during the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet in the 4th quarter worth about $38,000. Bard Associates Inc. purchased a new position in Alphabet in the fourth quarter worth about $41,000. Finally, Towne Trust Company N.A raised its holdings in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Zacks upgraded Alphabet (GOOG) to a Strong Buy, citing improving earnings expectations and bullish near-term sentiment. Alphabet (GOOG) Upgraded to Strong Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive on Alphabet’s AI and cloud outlook, with earnings preview articles pointing to Google Cloud and ad strength as potential drivers of another beat when results are reported on July 22. Google Stock Earnings Preview: Can Google Cloud Power Alphabet’s Next Earnings Beat?
• Positive Sentiment: Several reports framed Alphabet as a preferred AI and digital advertising name, noting resilient search traffic, strong ad monetization, and growing investor interest in its TPU and cloud strategy. Bet on 4 Cloud Computing Stocks to Hedge Against Volatile Markets
• Neutral Sentiment: Media coverage also pointed out that Alphabet is a trending stock and has recently outperformed the broader market, reflecting strong investor attention rather than a specific new catalyst. Alphabet Inc. (GOOG) Exceeds Market Returns: Some Facts to Consider
• Neutral Sentiment: Alphabet also drew favorable commentary from Jim Cramer and other market voices, who described Google’s long-term contract and AI position as compelling, but these were mostly opinion-based rather than new business updates. Jim Cramer Reveals Alphabet Inc. (GOOGL)’s “Best Contract in the World”
• Negative Sentiment: Regulatory pressure remains a headwind, with Google facing a new AI training lawsuit from publishers and separate scrutiny in Switzerland and Germany over Android search defaults and AI Overviews. Google faces another AI training lawsuit from major publishers
• Negative Sentiment: Concerns about data-center expansion and related costs also weighed on sentiment after New York imposed a moratorium on certain data centers, potentially affecting hyperscaler growth plans. AMZN, GOOGL, META: Hyperscalers Hit as New York State Imposes Moratorium on Data Centers

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $357.33 on Wednesday. Alphabet Inc. has a 52-week low of $181.50 and a 52-week high of $404.47. The company’s 50 day moving average is $368.65 and its 200 day moving average is $335.92. The firm has a market cap of $4.33 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.50 and a beta of 1.23. 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 (NASDAQ:GOOG) last posted 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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the previous year, the business posted $2.81 EPS. Alphabet’s revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Pivotal Research reaffirmed a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Zacks Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 22nd. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average target price of $378.53.

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.