Richard Bernstein Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,162 shares of the information services provider’s stock after selling 4,623 shares during the quarter. Alphabet accounts for approximately 0.4% of Richard Bernstein Advisors LLC’s holdings, making the stock its 21st biggest holding. Richard Bernstein Advisors LLC’s holdings in Alphabet were worth $13,197,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. PMV Capital Advisers LLC acquired a new position in Alphabet in the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet in the 3rd quarter worth $53,000. Kentucky Trust Co lifted its holdings in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in Alphabet in the 3rd quarter worth $53,000. Finally, Sellwood Investment Partners LLC acquired a new position in Alphabet in the 3rd quarter worth $63,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Transactions at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the completion of the transaction, the chief executive officer owned 1,674,560 shares of the company’s stock, valued at approximately $508,028,012.80. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 226,481 shares of company stock worth $27,422,061 in the last quarter. 11.61% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released 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 for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, sell-side analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is currently 6.41%.
Wall Street Analyst Weigh In
A number of brokerages have commented on GOOGL. KeyCorp reiterated an “overweight” rating and issued a $425.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. CICC Research upped their target price on shares of Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research note on Friday, May 1st. Pivotal Research upped their target price on shares of Alphabet from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. DA Davidson upped their target price on shares of Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Mizuho upped their target price on shares of Alphabet from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $412.65.
View Our Latest Report on Alphabet
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet is being highlighted as a strong AI investment thanks to its vertically integrated AI stack and cloud growth, which some analysts say could help it compete effectively in the booming AI data center market.
- Positive Sentiment: Google rolled out new AI-powered ad products at Marketing Live, including Gemini-based ad formats and AI search checkout tools, which could expand ad monetization and strengthen its core advertising business. Article Title
- Positive Sentiment: Reports that Alphabet may invest up to $190 billion by 2026 underscore its aggressive push into AI and infrastructure, signaling continued long-term spending to defend and grow its leadership position.
- Positive Sentiment: Coverage suggesting Alphabet has the tools to win the AI race and remains a top-ranked growth stock may be reinforcing investor confidence in the company’s earnings and strategic outlook.
- Neutral Sentiment: Alphabet’s Waymo unit faced service interruptions in some cities due to flooded roads and construction zones, a reminder that the autonomous driving business still has operational hurdles.
- Neutral Sentiment: Commentary around Google’s AI security challenges and its smart-glasses partnerships adds to the long-term innovation story, but these developments are not likely to move the stock immediately.
- Negative Sentiment: The European Union is reportedly preparing to fine Google a high triple-digit million-euro amount as part of an antitrust investigation, increasing regulatory risk for Alphabet’s core business and pressuring sentiment. Article Title
- Negative Sentiment: Google is also appealing a court ruling tied to its search monopoly, keeping antitrust uncertainty alive for investors focused on the durability of its search dominance.
About Alphabet
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.
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