Wallington Asset Management LLC Has $30.58 Million Stake in Alphabet Inc. $GOOG

Wallington Asset Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,615 shares of the information services provider’s stock after selling 4,316 shares during the quarter. Alphabet makes up about 4.1% of Wallington Asset Management LLC’s holdings, making the stock its 5th biggest holding. Wallington Asset Management LLC’s holdings in Alphabet were worth $30,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter worth $41,000. Finally, Towne Trust Company N.A raised its holdings in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s inclusion in the Dow Jones Industrial Average is drawing passive fund flows and reinforcing its status as a blue-chip tech leader. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: New AI product launches, including Nano Banana 2 Lite and Gemini Omni, suggest Alphabet is still pushing harder on cheaper, faster AI tools that could boost adoption and competitiveness. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet’s strategic partnership with Google Cloud adds another enterprise validation point for Alphabet’s AI and cloud strategy. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Wall Street commentary remains broadly bullish, with multiple analysts reiterating buy ratings and raising price targets, supporting the idea that recent weakness may be a buying opportunity.
• Neutral Sentiment: Google exceeded its $1 billion Africa investment target, which is strategically positive but not likely a near-term earnings driver. Reuters: Google has exceeded $1 billion Africa investment target
• Neutral Sentiment: Several reports highlighted strong long-term AI and cloud upside, but these were largely reiterations of an already bullish thesis rather than new catalysts.
• Negative Sentiment: A Swedish court ordered Google to pay nearly $2 billion in antitrust damages to Klarna’s PriceRunner unit, renewing regulatory pressure on Alphabet’s search and shopping businesses. Reuters: Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
• Negative Sentiment: Alphabet insiders continued to sell shares, including director Frances Arnold and president John Kent Walker, which can weigh on investor sentiment even if the sales were routine. SEC filing: Alphabet insider transaction
• Negative Sentiment: Investors are also worried about Alphabet’s heavy AI infrastructure spending and compute-capacity constraints, which could pressure margins in the near term. Yahoo Finance: Alphabet Could Add 9 GW of Compute Capacity in 2028, Morgan Stanley Says

Alphabet Stock Up 1.3%

GOOG opened at $357.89 on Thursday. The stock has a market capitalization of $4.34 trillion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.51 and a beta of 1.22. The firm has a 50 day moving average price of $367.43 and a 200-day moving average price of $332.84. Alphabet Inc. has a twelve month low of $173.88 and a twelve month high of $404.47. 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 earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.81 EPS. Equities research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is 6.71%.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were 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 SEC, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade 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 sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOOG has been the subject of several research reports. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Truist Financial set a $430.00 price objective on shares of Alphabet in a report on Monday, June 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Needham & Company LLC set a $400.00 price target on Alphabet and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, TD Cowen increased their target price on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $376.78.

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.