Sterling Capital Management LLC Sells 75,984 Shares of Alphabet Inc. $GOOG

Sterling Capital Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 27.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,097 shares of the information services provider’s stock after selling 75,984 shares during the quarter. Alphabet comprises 1.1% of Sterling Capital Management LLC’s holdings, making the stock its 16th largest holding. Sterling Capital Management LLC’s holdings in Alphabet were worth $57,400,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kathmere Capital Management LLC lifted its stake in Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in shares of Alphabet by 0.9% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock worth $53,920,000 after acquiring an additional 2,009 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management grew its stake in shares of 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 worth $86,596,000 after acquiring an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Alphabet by 7.5% in the fourth 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 last quarter. Finally, World Investment Advisors raised its holdings in shares of Alphabet by 8.7% in the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock valued at $59,827,000 after purchasing an additional 15,280 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 151,467 shares of company stock worth $4,877,600. 12.99% of the stock is currently owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, prompting a stock lift as passive funds and blue-chip investors rebalance into the shares. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google launched Nano Banana 2 Lite and Gemini Omni, cheaper and faster AI image/video models that could strengthen its AI product lineup and improve adoption. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet announced a strategic partnership with Google Cloud to build AI-powered financial intelligence tools, adding validation for Google Cloud’s enterprise AI push. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Visa and Google signed on to use OpenUSD for money movement, suggesting additional ecosystem relevance in digital payments and infrastructure. PYMNTS: Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Several reports highlighted continued bullish analyst views and higher price targets, which support sentiment but are not new fundamental changes by themselves.
• Negative Sentiment: Investors are still worried about Alphabet’s heavy AI spending, with reports noting massive compute-capacity plans and the risk that capital expenditures may weigh on near-term margins. Yahoo Finance: If You Think Alphabet’s AI Spending Is High Now, Just Wait for 2028
• Negative Sentiment: UK regulators opened a consultation aimed at loosening app-store payment restrictions, a potential pressure point for Google’s app marketplace economics. TechXplore: UK targets Apple, Google app store fees for developers
• Negative Sentiment: Recent insider sales, including by director Frances Arnold and CAO Marsida Saraci, may add a small cautionary note even though the sales were modest. SEC filing: Alphabet insider transaction

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Freedom Capital cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus set a $420.00 target price on Alphabet in a research note on Wednesday, May 20th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $425.00 target price on shares of Alphabet in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $376.78.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $353.33 on Wednesday. The company has a market capitalization of $4.28 trillion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. The company’s 50-day moving average is $366.98 and its 200 day moving average is $332.53. 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 Inc. has a fifty-two week low of $173.88 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (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 quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.81 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. 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 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

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.