Canada Post Corp Registered Pension Plan lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 275,275 shares of the information services provider’s stock after buying an additional 23,838 shares during the quarter. Alphabet accounts for about 3.3% of Canada Post Corp Registered Pension Plan’s investment portfolio, making the stock its 4th largest holding. Canada Post Corp Registered Pension Plan’s holdings in Alphabet were worth $86,161,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in shares of Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares during the last quarter. Finally, United Bank grew its holdings in shares of Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after purchasing an additional 3,120 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 193,016 shares of company stock worth $17,282,549. 11.61% of the stock is owned by corporate insiders.
Alphabet Trading Up 3.7%
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Equities analysts predict that Alphabet Inc. will post 14.28 EPS for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is 6.71%.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet raised its capital plan to $84.75 billion to fund AI infrastructure and cloud capacity, signaling it expects strong demand for compute and is willing to invest heavily to protect and grow its long-term AI position. Reuters article
- Positive Sentiment: Apple reportedly tapped Google Cloud to help power a revamped Siri, which could add a high-profile customer for Alphabet’s cloud business and reinforce its AI infrastructure monetization story. PYMNTS article
- Positive Sentiment: Lovable expanded its multi-year Google Cloud relationship, another sign that Google Cloud is winning AI-related usage and customer growth. TechCrunch article
- Positive Sentiment: Needham reiterated a buy rating and a $450 price target, reflecting continued analyst confidence in Alphabet’s cloud and AI growth potential. Benzinga article
- Neutral Sentiment: Several prominent investors, including Berkshire Hathaway and ARK, were reported as buying Alphabet shares, which supports sentiment but does not change fundamentals on its own. Barron’s article
- Neutral Sentiment: Alphabet also received a softer-than-feared UK antitrust ruling that requires new conduct changes and lets publishers opt out of AI training, which may limit some data use but reduces the risk of a harsher regulatory outcome. Reuters article
- Negative Sentiment: Reports that Google is quietly laying off staff in Cloud, including parts of its cybersecurity team, may weigh on sentiment by raising questions about cost discipline and internal restructuring. Business Insider article
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Truist Financial set a $430.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, May 29th. KeyCorp reissued an “overweight” rating and issued a $425.00 price target on shares of Alphabet in a report on Wednesday, May 20th. Argus raised their price target on shares of Alphabet from $365.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Finally, Wolfe Research cut their price target on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $413.04.
View Our Latest Report on GOOGL
Alphabet 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.
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