Healthcare of Ontario Pension Plan Trust Fund boosted its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,592,244 shares of the information services provider’s stock after purchasing an additional 86,291 shares during the quarter. Alphabet accounts for about 0.8% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 24th largest holding. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Alphabet were worth $499,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the company. Ring Mountain Capital LLC lifted its stake in Alphabet by 0.9% in the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after purchasing an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. lifted its stake in Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after purchasing an additional 30 shares in the last quarter. HRC Wealth Management LLC lifted its stake in Alphabet by 1.0% in the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after purchasing an additional 31 shares in the last quarter. Certior Financial Group LLC lifted its stake in Alphabet by 3.5% in the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after purchasing an additional 31 shares in the last quarter. Finally, Synergy Investment Management LLC lifted its stake in Alphabet by 0.8% in the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock worth $1,294,000 after purchasing an additional 31 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research note on Monday, June 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. TD Cowen increased their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $435.00 price target on shares of Alphabet in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $376.78.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction 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 $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 191,966 shares of company stock valued at $16,963,968 over the last three months. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Alphabet stock opened at $358.16 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.34 trillion, a PE ratio of 27.32, a P/E/G ratio of 1.53 and a beta of 1.23. The firm has a fifty day simple moving average of $357.71 and a two-hundred day simple moving average of $329.52. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.81 earnings per share. Research analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared 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. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s drone-delivery unit Wing expanded into seven more U.S. cities with Walmart, reinforcing that its Other Bets can scale into real businesses and may be more valuable than the market gives them credit for.
- Positive Sentiment: Waymo launched a $29.99 monthly membership program, adding a recurring-revenue layer to its robotaxi business and highlighting rapid growth in paid rides, which investors may see as a meaningful long-term opportunity.
- Positive Sentiment: Several analyst and commentary pieces remain constructive on Alphabet’s AI, cloud, and search setup, with some calling it an AI powerhouse and lifting price targets, which supports the stock’s bullish narrative.
- Positive Sentiment: Google is also expanding its real-estate listings nationwide and continuing to deepen its AI infrastructure and chip strategy, reinforcing multiple growth avenues beyond search advertising.
- Neutral Sentiment: Google filed suit against an alleged Chinese cybercrime group that used AI to scam victims, a move that shows the company is actively defending its platforms, though the stock impact is likely limited unless the issue escalates.
- Neutral Sentiment: Alphabet declined a $2 billion U.S. quantum-computing funding program, saying the terms could slow development; that may be viewed as a strategic choice rather than a major financial event.
- Neutral Sentiment: News that some billionaire investors sold Alphabet in Q1 while others bought more adds to the debate, but it does not change the underlying business fundamentals by itself.
- Negative Sentiment: Some recent coverage continues to focus on worries about rising capital expenditures and AI monetization, which can pressure sentiment if investors fear Alphabet’s AI spending will take longer to pay off.
- Negative Sentiment: Alphabet’s AI Overview feature has also faced renewed controversy, adding another small overhang around search quality and user trust.
Alphabet 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.
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