Conning Inc. Has $11.06 Million Position in Alphabet Inc. $GOOGL

Conning Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,465 shares of the information services provider’s stock after selling 4,383 shares during the quarter. Conning Inc.’s holdings in Alphabet were worth $11,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth about $30,534,239,000. Cardano Risk Management B.V. grew its holdings in shares of Alphabet by 855.3% during the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after purchasing an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. Capital World Investors increased its position in Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Finally, Diamant Asset Management Inc. increased its position in Alphabet by 28,950.0% during the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock worth $2,671,986,000 after purchasing an additional 9,259,940 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.5%

Shares of NASDAQ GOOGL opened at $351.99 on Tuesday. The company’s 50 day moving average price is $368.16 and its 200-day moving average price is $338.41. 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 52-week low of $186.15 and a 52-week high of $408.61. The company has a market capitalization of $4.26 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities analysts forecast that Alphabet Inc. will post 14.33 earnings per share for the current year.

Alphabet Increases Dividend

The firm 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 represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Wolfe Research reduced their price target on Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. UBS Group reaffirmed a “neutral” rating and issued a $400.00 price objective (down from $410.00) on shares of Alphabet in a research note on Monday, July 13th. Rothschild & Co Redburn raised their price objective on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company cut their target price on shares of Alphabet from $435.00 to $416.00 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $414.11.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction 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 transaction, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This trade represents a 1.62% 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 ninety days. 11.61% of the stock is currently owned by corporate insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly developing a new AI server chip to make Gemini run more efficiently, which could improve performance and reduce infrastructure costs. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Shares were also lifted by reports that Alphabet’s AI chip initiative could strengthen its competitive position against Nvidia and support its broader AI rollout. Yahoo Finance: Alphabet stock gains on report of next-generation AI chip project
• Positive Sentiment: Analysts and market commentators say Alphabet’s upcoming Q2 results could be supported by Search ad strength, Cloud growth, and rising subscriptions, with expectations for an earnings surprise still elevated. Zacks: Will Alphabet’s Q2 Earnings Reignite the Tech Rally?
• Positive Sentiment: Wall Street analysts remain generally constructive on Alphabet ahead of earnings, with some notes suggesting meaningful upside from current levels. Zacks: Wall Street Analysts Think Alphabet (GOOGL) Is a Good Investment: Is It?
• Neutral Sentiment: Alphabet’s upcoming earnings report is expected to be a major event for the stock, with traders bracing for a potentially large move depending on guidance and AI capex plans. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Several articles highlighted Alphabet as one of this week’s most closely watched earnings names, but these were largely preview pieces rather than new fundamental developments. Proactive Investors: Week ahead: Wall Street gears up for volatility as Big Tech earnings kick into high gear
• Negative Sentiment: One New York Times report criticized Google’s AI search features as potentially harming the open web, which could add regulatory and reputational pressure over time. NYT: How Google’s A.I. Search Is Imperiling the Open Web
• Negative Sentiment: Two securities-fraud investigation notices may create some headline overhang, although they are routine plaintiff-lawyer announcements and not evidence of new wrongdoing. Globe Newswire: Securities Fraud Investigation Into Alphabet Inc. (GOOG) Continues

Alphabet Company Profile

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.