PNC Financial Services Group Inc. Sells 25,090 Shares of Alphabet Inc. $GOOG

PNC Financial Services Group Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,833,352 shares of the information services provider’s stock after selling 25,090 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alphabet were worth $889,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Alphabet in the 3rd quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new position in Alphabet in the 4th quarter valued at $38,000. Towne Trust Company N.A grew its stake 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 valued at $42,000 after buying an additional 34 shares during the last quarter. Winnow Wealth LLC acquired a new position in Alphabet in the 3rd quarter valued at $63,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in Alphabet by 29.0% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after buying an additional 58 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 226,481 shares of company stock worth $27,422,061 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. Sanford C. Bernstein restated a “market perform” rating and set a $345.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, KeyCorp restated an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $372.65.

Alphabet Price Performance

Shares of Alphabet stock opened at $386.12 on Friday. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The firm has a market cap of $4.68 trillion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. The firm’s 50-day simple moving average is $341.87 and its 200-day simple moving average is $323.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $106.96 billion. During the same period last year, the firm posted $2.81 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.41%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

Alphabet Company 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.