Sage Investment Advisers LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,543 shares of the information services provider’s stock, valued at approximately $2,681,000. Alphabet accounts for 2.0% of Sage Investment Advisers LLC’s portfolio, making the stock its 16th largest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth $18,093,665,000. Vanguard Group Inc. increased its holdings in Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after purchasing an additional 7,904,434 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Alphabet in the fourth quarter valued at about $1,017,756,000. Finally, Danske Bank A S bought a new stake in Alphabet in the third quarter valued at about $678,198,000. Institutional investors own 27.26% of the company’s stock.
Alphabet Stock Up 0.3%
NASDAQ:GOOG opened at $362.29 on Wednesday. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.39 trillion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.55 and a beta of 1.22. The stock has a 50-day moving average price of $353.44 and a two-hundred day moving average price of $328.39.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s payout ratio is presently 6.71%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on GOOG shares. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. UBS Group reiterated a “neutral” rating and issued a $348.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Scotiabank reiterated an “outperform” rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Finally, KeyCorp reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $376.78.
Get Our Latest Report on Alphabet
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Gemini usage growth and strong Google Cloud momentum suggest Alphabet’s AI strategy is gaining traction and could support future revenue growth.
- Positive Sentiment: TD Cowen raised its price target to $475 and reiterated a buy rating, signaling continued Wall Street confidence in Alphabet’s upside.
- Positive Sentiment: Analysts and investors continue to view Alphabet as a long-term compounder with durable Search cash flow plus cloud and AI expansion. Article Title
- Neutral Sentiment: Alphabet’s new capital-raising and AI infrastructure spending plans could help fund growth, but they also create uncertainty about near-term cash flow and dilution.
- Negative Sentiment: Reports that Alphabet is paying SpaceX about $920 million per month for AI compute add to concerns that the company is leaning on outside infrastructure to meet AI demand, increasing costs in the near term.
- Negative Sentiment: Recent commentary suggests investors are worried that elevated AI capex could pressure margins if the payoff from AI products takes longer than expected.
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares of the company’s stock, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 193,016 shares of company stock valued at $17,282,549. Insiders own 12.99% of the company’s stock.
Alphabet Company Profile
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.
Read More
- Five stocks we like better than Alphabet
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
