Montecito Bank & Trust Cuts Stock Holdings in Alphabet Inc. $GOOGL

Montecito Bank & Trust decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,001 shares of the information services provider’s stock after selling 1,722 shares during the quarter. Alphabet comprises 2.0% of Montecito Bank & Trust’s holdings, making the stock its 10th largest holding. Montecito Bank & Trust’s holdings in Alphabet were worth $12,078,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet during the fourth quarter valued at about $32,000. EMC Capital Management acquired a new stake in shares of Alphabet in the 4th quarter worth about $33,000. PMV Capital Advisers LLC bought a new position in Alphabet in the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the 4th quarter valued at about $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet during the 4th quarter valued at about $52,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $345.04 on Thursday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.18 trillion, a PE ratio of 26.32, a P/E/G ratio of 1.48 and a beta of 1.23. The business has a 50 day moving average of $368.72 and a 200-day moving average of $332.69. Alphabet Inc. has a 12-month low of $167.55 and a 12-month high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 6.71%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. The Goldman Sachs Group lifted their target price on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. China Renaissance upped their price target on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Needham & Company LLC reissued a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research report on Wednesday, June 3rd. Finally, Barclays restated a “buy” rating on shares of Alphabet in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $413.13.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, which is a prestige win and may attract new index demand. Alphabet replacing Verizon in Dow Jones Industrial Average index
• Positive Sentiment: Analysts and recent coverage continue to highlight strong demand for Google Cloud and Alphabet’s AI infrastructure opportunities, reinforcing the long-term growth case. Alphabet Rides on Accelerating AI Infrastructure Demand: What’s Ahead?
• Neutral Sentiment: Google delayed the launch of Gemini 3.5 Pro to July while it continues tuning the model based on early feedback, which suggests progress but also a slower rollout than expected. Google delays Gemini 3.5 Pro launch to July as it tweaks its new frontier AI model
• Neutral Sentiment: Alphabet’s YouTube settled a lawsuit over alleged social-media harm to children, removing a legal overhang but without enough detail to gauge a major financial impact. Google’s YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Reports that top AI researchers Jonas Adler and Alexander Pritzel are leaving Google for Anthropic add to concerns about talent retention and competition in frontier AI. AI researchers continue to leave Google for its rivals
• Negative Sentiment: Broader coverage also points to rising competition in AI search and fears that Google’s core search business could face pressure as users and rivals shift toward alternative AI-driven tools. Google’s online dominance Is showing signs of cracking in AI era

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares of the company’s stock, valued at $995,341.06. This trade represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,516 shares of company stock worth $7,344,604 in the last ninety days. Corporate insiders own 11.61% of the company’s stock.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.