MA Private Wealth purchased a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,863 shares of the information services provider’s stock, valued at approximately $1,840,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Alphabet by 5.8% during the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock worth $9,749,864,000 after purchasing an additional 2,209,203 shares during the period. Legal & General Group Plc grew its holdings in shares of Alphabet by 0.7% during the 3rd quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock worth $7,935,671,000 after purchasing an additional 223,743 shares during the period. Finally, Capital World Investors grew its holdings in shares of Alphabet by 1.9% during the 3rd quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock worth $6,971,769,000 after purchasing an additional 539,679 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $393.32 on Friday. The stock’s 50 day moving average price is $327.44 and its 200 day moving average price is $316.98. The firm has a market capitalization of $4.77 trillion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. 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 one year low of $163.33 and a one year high of $399.93.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.41%.
Insider Activity
In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total transaction of $348,232.50. Following the transaction, the director directly owned 3,581 shares of the company’s stock, valued at approximately $1,187,638.65. The trade was a 22.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $302.99, for a total value of $33,934.88. Following the transaction, the director directly owned 18,418 shares in the company, valued at $5,580,469.82. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 157,953 shares of company stock worth $47,767,818 in the last ninety days. 12.99% of the stock is currently owned by company insiders.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
- Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
- Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
- Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
- Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
- Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
- Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
- Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman’s Pershing Square Capital Management, L.P. Just Disclosed New Holdings
- Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. TD Cowen boosted their target price on Alphabet from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Truist Financial set a $385.00 target price on Alphabet in a report on Wednesday, April 22nd. Finally, UBS Group reiterated a “neutral” rating and set a $348.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $363.40.
Check Out Our Latest Research Report on Alphabet
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.
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