Intact Investment Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 38.1% in the 4th quarter, Holdings Channel reports. The firm owned 71,100 shares of the information services provider’s stock after selling 43,700 shares during the period. Intact Investment Management Inc.’s holdings in Alphabet were worth $22,254,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Estate Counselors LLC bought a new position in Alphabet in the 4th quarter worth $244,000. Pachira Investments Inc. increased its stake in shares of Alphabet by 21.6% in the 4th quarter. Pachira Investments Inc. now owns 6,319 shares of the information services provider’s stock worth $1,978,000 after acquiring an additional 1,124 shares in the last quarter. RIA Advisory Group LLC increased its stake in shares of Alphabet by 21.9% in the 4th quarter. RIA Advisory Group LLC now owns 2,992 shares of the information services provider’s stock worth $937,000 after acquiring an additional 537 shares in the last quarter. Summit Wealth & Retirement Planning Inc. increased its stake in shares of Alphabet by 0.9% in the 4th quarter. Summit Wealth & Retirement Planning Inc. now owns 13,517 shares of the information services provider’s stock worth $4,231,000 after acquiring an additional 114 shares in the last quarter. Finally, Core Alternative Capital increased its stake in shares of Alphabet by 4.0% in the 4th quarter. Core Alternative Capital now owns 23,068 shares of the information services provider’s stock worth $7,220,000 after acquiring an additional 891 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
- Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google’s AI glasses and they’re almost there
- Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet’s new AI ad formats seen boosting conversions and spending
- Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
- Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
- Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
- Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly
Insider Activity at Alphabet
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $382.97 on Friday. The firm’s 50-day moving average price is $337.75 and its 200-day moving average price is $321.26. 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 cap of $4.64 trillion, a PE ratio of 29.21, a PEG ratio of 1.66 and a beta of 1.26. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $106.98 billion. As a group, analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current year.
Alphabet Increases Dividend
The company 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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is 6.41%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research note on Monday, February 16th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. China Renaissance increased their price target on shares of Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Susquehanna reiterated a “positive” rating and issued a $460.00 price target (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $412.65.
Read Our Latest Stock 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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