Noesis Capital Mangement Corp Trims Stock Position in Alphabet Inc. $GOOG

Noesis Capital Mangement Corp lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,502 shares of the information services provider’s stock after selling 1,467 shares during the quarter. Alphabet makes up about 7.1% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its largest holding. Noesis Capital Mangement Corp’s holdings in Alphabet were worth $47,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kathmere Capital Management LLC lifted its stake in Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after buying an additional 2,341 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in Alphabet by 1.0% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after purchasing an additional 2,850 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares during the period. World Investment Advisors grew its position in Alphabet by 8.7% in the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $59,827,000 after purchasing an additional 15,280 shares during the last quarter. Finally, Violich Capital Management Inc. increased its stake in shares of Alphabet by 1.0% in the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after purchasing an additional 3,378 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Key Stories 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.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOG shares. KeyCorp set a $445.00 price target on Alphabet in a research report on Friday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Raymond James Financial restated a “strong-buy” rating and set a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Zacks Research upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, UBS Group set a $430.00 target price on Alphabet in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $383.44.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,415 shares of company stock worth $7,672,279 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $346.12 on Monday. The firm has a market cap of $4.19 trillion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Alphabet Inc. has a 1 year low of $184.73 and a 1 year high of $404.47. The firm’s 50 day moving average price is $366.29 and its two-hundred day moving average price is $336.81. 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 data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.81 EPS. On average, research analysts predict that Alphabet Inc. will post 14.33 EPS for the current fiscal 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 given a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 6.71%.

Alphabet 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.