Manhattan West Asset Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 82,433 shares of the information services provider’s stock after selling 6,893 shares during the period. Alphabet comprises approximately 5.3% of Manhattan West Asset Management LLC’s holdings, making the stock its 2nd biggest position. Manhattan West Asset Management LLC’s holdings in Alphabet were worth $25,802,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Blalock Williams LLC boosted its holdings in shares of Alphabet by 7.3% in the 4th quarter. Blalock Williams LLC now owns 11,959 shares of the information services provider’s stock valued at $3,743,000 after buying an additional 816 shares during the period. Acorn Creek Capital LLC boosted its holdings in shares of Alphabet by 5.8% in the 4th quarter. Acorn Creek Capital LLC now owns 3,375 shares of the information services provider’s stock valued at $1,056,000 after buying an additional 185 shares during the period. CapWealth Advisors LLC boosted its holdings in shares of Alphabet by 2.4% in the 4th quarter. CapWealth Advisors LLC now owns 54,061 shares of the information services provider’s stock valued at $16,921,000 after buying an additional 1,260 shares during the period. Essex Bank boosted its holdings in shares of Alphabet by 10.4% in the 4th quarter. Essex Bank now owns 27,422 shares of the information services provider’s stock valued at $8,583,000 after buying an additional 2,575 shares during the period. Finally, Davis Selected Advisers boosted its holdings in shares of Alphabet by 12.6% in the 4th quarter. Davis Selected Advisers now owns 3,118,760 shares of the information services provider’s stock valued at $976,175,000 after buying an additional 348,166 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 0.3%
GOOGL stock opened at $388.91 on Thursday. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The company has a market capitalization of $4.71 trillion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The firm’s 50-day moving average is $334.65 and its two-hundred day moving average is $320.07. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. 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 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s payout ratio is presently 6.41%.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s Google I/O showcase highlighted a broad AI push across Search, Gemini, Workspace, shopping, coding, and video tools, reinforcing expectations that Google can monetize AI rather than just defend against competitors. Google debuts new AI models, personal AI agents in effort to keep pace with OpenAI and Anthropic
- Positive Sentiment: Google and Blackstone announced a $5 billion joint venture to build AI cloud infrastructure powered by Google’s TPU chips, which could expand demand for Alphabet’s custom silicon and strengthen its enterprise AI ecosystem. Google, Blackstone to create new AI cloud company, WSJ reports
- Positive Sentiment: Wall Street analysts turned more constructive after I/O, with firms including BofA, KeyCorp, Citizens JMP, Needham, and others reiterating or raising targets, signaling confidence that Alphabet’s AI strategy is gaining traction. Alphabet analyst forecasts
- Positive Sentiment: Alphabet said Gemini now has 900 million monthly users and AI Overviews has 2.5 billion monthly users, showing that its AI products are already operating at significant scale. Google kicks off I/O conference with AI upgrades for coders, consumers
- Positive Sentiment: Alphabet also introduced new AI-powered search and shopping features, including agentic tools and a universal cart, which could open additional monetization opportunities. Google’s new Universal Cart wants to follow you across the entire internet
- Neutral Sentiment: Insider and shareholder sales were disclosed, including a director sale and a larger shareholder sale, but these appear to be routine filings rather than a clear signal of changing fundamentals. SEC filing
- Negative Sentiment: Ofcom said YouTube and TikTok have not done enough to protect British children from harmful content, adding another layer of regulatory scrutiny for Alphabet’s YouTube business. TikTok, YouTube lag on UK child safety as rivals act, regulator says
- Negative Sentiment: Some investors worry that Google’s AI-heavy search redesign could pressure its core ad model by reducing reliance on the traditional “ten blue links” format. Google Search as you know it is over
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders sold 226,481 shares of company stock worth $27,422,061 in the last three months. Insiders own 11.61% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on GOOGL. Wolfe Research decreased their price target on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating for the company in a report on Friday, April 10th. Canaccord Genuity Group boosted their target price on shares of Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $450.00 target price on shares of Alphabet in a research note on Wednesday. Bank of America boosted their target price on shares of Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Daiwa Securities Group boosted their target price on shares of Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Two equities research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $412.65.
Read Our Latest Research Report on GOOGL
Alphabet Company 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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