Mill Capital Management LLC Sells 10,112 Shares of Alphabet Inc. $GOOG

Mill Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,724 shares of the information services provider’s stock after selling 10,112 shares during the quarter. Alphabet accounts for 7.2% of Mill Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Mill Capital Management LLC’s holdings in Alphabet were worth $95,158,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Ring Mountain Capital LLC increased its holdings in Alphabet by 0.9% in the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after acquiring an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. grew its position in shares of Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 30 shares during the period. Financial Enhancement Group LLC grew its position in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 30 shares during the period. HRC Wealth Management LLC increased its stake in shares of Alphabet by 1.0% during the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after purchasing an additional 31 shares in the last quarter. Finally, Certior Financial Group LLC raised its position in shares of Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after purchasing an additional 31 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 2.2%

GOOG stock opened at $346.12 on Friday. The company has a market cap of $4.19 trillion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.45 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $184.73 and a 12 month high of $404.47. The firm has a 50-day moving average of $366.29 and a two-hundred day moving average of $336.65.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. As a group, analysts forecast that Alphabet Inc. will post 14.33 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. 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 0.3%. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,415 shares of company stock valued at $7,672,279 in the last three months. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp set a $445.00 price objective on Alphabet in a report on Friday, July 10th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Wells Fargo & Company set a $416.00 price target on Alphabet in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus set a $420.00 price objective on Alphabet in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $383.44.

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.