Cheviot Value Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,144 shares of the information services provider’s stock after selling 8,236 shares during the quarter. Alphabet comprises approximately 6.3% of Cheviot Value Management LLC’s portfolio, making the stock its 4th biggest position. Cheviot Value Management LLC’s holdings in Alphabet were worth $60,866,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. Matrix Asset Advisors Inc. NY grew its holdings in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after acquiring an additional 581 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank grew its holdings in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after acquiring an additional 3,120 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet is testing Gemini-powered Search ads, including conversational and contextual ad formats that could improve monetization and help offset concerns that AI search may weaken its core advertising model.
- Positive Sentiment: Google and CrowdStrike helped take down a botnet targeting open-source software developers, reinforcing Alphabet’s cybersecurity capabilities and its role in defending the broader internet ecosystem.
- Positive Sentiment: Reports around Google I/O and Alphabet’s broader AI lineup, including new Gemini features and AI search tools, suggest the company is still aggressively innovating to defend its leadership in search and advertising.
- Neutral Sentiment: Google’s $15 billion Missouri AI data hub investment highlights long-term infrastructure spending to support AI growth, but the near-term stock impact is likely limited.
- Neutral Sentiment: Alphabet has drawn market focus from traders and analysts, with prediction-market activity suggesting shares may stay near current levels in the short term.
- Negative Sentiment: DuckDuckGo reported rising installs as some users respond negatively to Google’s AI Search overhaul, raising investor concerns that the redesign could push a portion of users toward competitors.
- Negative Sentiment: CEO Sundar Pichai acknowledged that one Google AI Search result was “more opinionated than it should be,” underscoring the risk of AI accuracy issues and potential user trust problems.
- Negative Sentiment: Federal prosecutors charged a Google employee with insider trading tied to Polymarket bets, creating a reputational overhang even though the case appears to involve an individual employee rather than core business operations.
Insider Buying and Selling at Alphabet
Analyst Ratings Changes
A number of research analysts recently weighed in on GOOGL shares. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $435.00 price objective (up from $427.00) on shares of Alphabet in a report on Wednesday, May 20th. CICC Research upped their price objective on Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a report on Friday, May 1st. Bank of America upped their price objective on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $412.65.
Read Our Latest Analysis on GOOGL
Alphabet Stock Down 0.0%
GOOGL opened at $388.83 on Thursday. 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 firm has a market cap of $4.71 trillion, a P/E ratio of 29.66, 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. The business’s fifty day simple moving average is $342.73 and its 200 day simple moving average is $323.73.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is 6.41%.
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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