Carnegie Investment Counsel Reduces Holdings in Alphabet Inc. $GOOG

Carnegie Investment Counsel lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,232 shares of the information services provider’s stock after selling 2,430 shares during the period. Alphabet comprises about 1.3% of Carnegie Investment Counsel’s holdings, making the stock its 14th largest position. Carnegie Investment Counsel’s holdings in Alphabet were worth $66,331,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Imprint Wealth LLC acquired a new stake in shares of Alphabet during the third quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. purchased a new position in Alphabet in the 4th quarter valued at $41,000. Finally, Towne Trust Company N.A grew its position 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. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOG opened at $370.21 on Thursday. The business has a fifty day moving average of $368.14 and a 200-day moving average of $336.31. Alphabet Inc. has a fifty-two week low of $181.50 and a fifty-two week high of $404.47. The stock has a market cap of $4.49 trillion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.53 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.81 earnings per share. As a group, analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. The trade was a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is owned by corporate insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he personally initiated Berkshire Hathaway’s purchase of Alphabet, giving the stock a high-profile vote of confidence and reinforcing the view that GOOG remains attractive ahead of earnings. Warren Buffett tells CNBC he initiated Berkshire Hathaway’s investment in Alphabet
• Positive Sentiment: Several analysts and market articles said Alphabet’s AI-driven search, cloud growth, and improving earnings outlook could support another results beat, keeping investor sentiment constructive. Alphabet Inc. (GOOG) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Alphabet’s large clean-power purchase and ongoing AI infrastructure investment signal continued support for long-term cloud and AI expansion, which investors may view as a strength. Google’s biggest clean power project is 40 miles north of xAI’s unpermitted gas power plant
• Neutral Sentiment: Alphabet continues to receive favorable brokerage and valuation commentary, with some coverage highlighting strong AI monetization but noting the stock is already pricing in a lot of optimism. GOOGL Stock: Do AI Growth Drivers Justify the Premium Valuation?
• Negative Sentiment: The EU is preparing new fines against Google, adding to regulatory overhang and reminding investors that antitrust risk remains a key issue for the stock. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google also faced fresh scrutiny from Swiss regulators and new AI-related criticism and lawsuits, which could pressure sentiment around its core search and AI businesses. Google probed by Swiss regulator over Android default search feature

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOOG shares. TD Cowen boosted their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price objective on shares of Alphabet in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their price objective on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Oppenheimer raised their target price on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Truist Financial set a $430.00 target price on shares of Alphabet in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.