ArchPoint Investors lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 337,105 shares of the information services provider’s stock after selling 4,525 shares during the period. Alphabet accounts for approximately 25.0% of ArchPoint Investors’ holdings, making the stock its largest holding. ArchPoint Investors’ holdings in Alphabet were worth $105,514,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of GOOGL. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter worth $30,534,239,000. Berkshire Hathaway Inc purchased a new position in shares of Alphabet during the 3rd quarter worth $4,338,397,000. 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 worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the period. 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 worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Finally, Capital World Investors grew its holdings in shares of 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 during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
- Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
- Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
- Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
- Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
- Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 14.3 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. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. 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. Alphabet’s dividend payout ratio is currently 6.71%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on GOOGL shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Tigress Financial set a $415.00 price target on Alphabet and gave the stock a “strong-buy” rating in a report on Thursday, February 19th. Mizuho increased their price target on Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and set a $445.00 price target (up from $425.00) on shares of Alphabet in a report on Monday, June 1st. Finally, Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.13.
Check Out Our Latest Stock Analysis on Alphabet
Insider Activity
In related news, insider John Kent Walker sold 8,993 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the 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. Insiders have sold 193,016 shares of company stock worth $17,282,549 in the last quarter. Insiders own 11.61% of the company’s stock.
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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