Alphabet Inc. $GOOG Position Trimmed by Chemung Canal Trust Co.

Chemung Canal Trust Co. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,665 shares of the information services provider’s stock after selling 6,455 shares during the period. Alphabet accounts for 3.3% of Chemung Canal Trust Co.’s portfolio, making the stock its 5th largest position. Chemung Canal Trust Co.’s holdings in Alphabet were worth $16,840,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Elevatus Welath Management boosted its position in shares of Alphabet by 13.1% in the 4th quarter. Elevatus Welath Management now owns 44,847 shares of the information services provider’s stock worth $14,073,000 after purchasing an additional 5,190 shares in the last quarter. Eagle Rock Investment Company LLC grew its stake in shares of Alphabet by 1.5% in the 4th quarter. Eagle Rock Investment Company LLC now owns 12,317 shares of the information services provider’s stock worth $3,865,000 after buying an additional 178 shares during the last quarter. EdgeRock Capital LLC increased its position in Alphabet by 20.8% during the 4th quarter. EdgeRock Capital LLC now owns 4,241 shares of the information services provider’s stock valued at $1,331,000 after buying an additional 729 shares in the last quarter. Emergent Wealth Advisors LLC increased its position in Alphabet by 2.2% during the 4th quarter. Emergent Wealth Advisors LLC now owns 2,613 shares of the information services provider’s stock valued at $820,000 after buying an additional 55 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in Alphabet by 4.9% during the fourth quarter. Tradewinds Capital Management LLC now owns 6,929 shares of the information services provider’s stock valued at $2,174,000 after buying an additional 325 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google introduced Veo 3.1 Lite, a lower‑cost video AI model (same speed as Veo 3.1 Fast but at roughly half the cost) — this can broaden developer adoption, increase Google Cloud inference volume and improve monetization of AI services. Article Title
• Positive Sentiment: Alphabet rolled out Lyria 3 Pro for longer AI‑generated music tracks (up to 3 minutes), expanding its creative AI product stack and potential content‑creation revenue/use cases. Article Title
• Positive Sentiment: Wall Street remains constructive on Alphabet’s AI/cloud opportunity: analysts highlight strong cloud growth, big backlog and high price targets — supportive background for multiple‑quarter upside. Article Title
• Neutral Sentiment: Google researchers published a paper showing quantum computers may reduce resources needed to break ECDLP‑256 (bitcoin encryption) by ~20x — underscores Google’s R&D leadership but has limited direct revenue impact for Alphabet. Article Title
• Neutral Sentiment: GOOG’s weight in major ETFs (QQQ, VTI, VOO) means passive/ETF flows amplify moves — gains in broader tech/AI names helped bid the stock. Article Title
• Negative Sentiment: Legal/regulatory headlines remain a drag: coverage of a social‑media addiction verdict and related lawsuits has created headline risk and prompted caution among some investors (appeals expected). Article Title Article Title
• Negative Sentiment: Publishers reported traffic/margin pressure from Google search changes (e.g., Future Plc margin warning), highlighting potential downstream ad‑revenue and partnership frictions. Article Title
• Negative Sentiment: Regulatory scrutiny continues globally (e.g., Indonesian summons over child social media curbs), a reminder of policy risks that can create episodic volatility. Article Title

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GOOG shares. Sanford C. Bernstein reissued a “market perform” rating and issued a $345.00 target price on shares of Alphabet in a report on Thursday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $370.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Truist Financial set a $350.00 price objective on shares of Alphabet in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Nine analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $345.71.

Alphabet Stock Performance

Shares of GOOG opened at $286.71 on Wednesday. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 1.60 and a beta of 1.10. The business’s fifty day simple moving average is $311.08 and its two-hundred day simple moving average is $296.33. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $350.15. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.23. The firm had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 7.77%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 47,574 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider owned 13,227 shares in the company, valued at approximately $3,987,279.15. This represents a 78.25% decrease in their position. The transaction was disclosed in a legal 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, March 16th. The shares were sold at an average price of $303.41, for a total transaction of $318,580.50. Following the sale, the director directly owned 4,631 shares in the company, valued at approximately $1,405,091.71. The trade was a 18.48% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,092,234 shares of company stock worth $112,487,971. 12.99% of the stock is owned by company insiders.

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.