Northstar Group Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,179 shares of the information services provider’s stock after selling 1,838 shares during the quarter. Alphabet accounts for 4.3% of Northstar Group Inc.’s investment portfolio, making the stock its 5th largest holding. Northstar Group Inc.’s holdings in Alphabet were worth $30,459,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. State Street Corp grew its stake in shares of Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock valued at $58,712,878,000 after buying an additional 953,790 shares during the period. Auto Owners Insurance Co increased its position in Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after buying an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP raised its stake in Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after buying an additional 111,699,704 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Alphabet by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after buying an additional 1,073,151 shares during the period. 27.26% of the stock is currently owned by institutional investors.
Alphabet Trading Down 1.4%
Shares of Alphabet stock opened at $358.71 on Thursday. The firm has a market cap of $4.35 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 1.23. Alphabet Inc. has a 1 year low of $173.88 and a 1 year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a fifty day moving average price of $369.48 and a 200-day moving average price of $334.74.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.71%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on GOOG shares. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research note on Monday, June 22nd. Truist Financial set a $430.00 target price on Alphabet in a report on Monday, June 1st. JPMorgan Chase & Co. lifted their price target 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 restated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Finally, Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $376.19.
View Our Latest Analysis on GOOG
Insider Activity
In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is owned by insiders.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Waymo, Alphabet’s autonomous driving unit, said it plans to expand driverless rides to four more major cities this year, a sign that Alphabet’s self-driving business is scaling beyond its current markets. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
- Positive Sentiment: Google’s SynthID deepfake-detection system was used to debunk a high-profile AI-generated hoax image, highlighting the practical value of Alphabet’s AI safety tools. Google’s deepfake detector system used to debunk McConnell hoax pic
- Positive Sentiment: Several recent articles continued to frame Alphabet as a beneficiary of the AI infrastructure boom, with Google Cloud and AI demand seen as supporting revenue growth and long-term earnings power. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
- Positive Sentiment: Investor commentary has also remained constructive after strong recent earnings, with one analysis arguing Alphabet is on track to sustain “Rule of 40” type growth and healthy margins. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy
- Positive Sentiment: Berkshire Hathaway’s reported $10 billion private placement in Alphabet continued to draw attention and may support confidence in GOOG’s long-term value. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
- Neutral Sentiment: Several market recap and valuation pieces discussed Alphabet alongside other mega-cap AI leaders, but these were mostly commentary rather than new business developments. Three Most Valuable Companies at $13 Trillion: Buy, Sell, or Hold
- Negative Sentiment: Trading-data articles highlighted recent weakness in GOOG, including heavier-than-broad-market selling and reports of significant insider selling over the past six months, which can weigh on sentiment. GOOGL stock is down 3% today. Here’s what we see in our data.
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.
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