Mesirow Financial Investment Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,682 shares of the information services provider’s stock after selling 30,931 shares during the period. Alphabet makes up about 2.3% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 8th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in Alphabet were worth $112,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of GOOGL. PMV Capital Advisers LLC acquired a new position in shares of Alphabet during the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Alphabet during the 3rd quarter worth $53,000. Kentucky Trust Co raised its holdings in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Alphabet during the 3rd quarter worth $53,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Alphabet during the 3rd quarter worth $63,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director owned 18,721 shares in the company, valued at approximately $7,132,701. The trade was a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,516 shares of company stock worth $27,142,399 over the last quarter. 11.61% of the stock is owned by company insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating 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 company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend 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 is currently 6.71%.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway’s $10 billion commitment gives Alphabet a high-profile endorsement and suggests long-term confidence in the company’s AI and cloud strategy. Alphabet plans to raise $80 billion for AI goals, Berkshire to invest $10 billion
- Positive Sentiment: Alphabet’s ownership stakes in major private AI companies like SpaceX and Anthropic could provide hidden upside if those firms eventually go public. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs: What That Means For Investors
- Neutral Sentiment: Coverage of Alphabet’s expanding AI coding, hardware, and consumer-device strategy underscores the company’s push to compete more aggressively, but it does not appear to be the immediate stock-moving catalyst today. Microsoft and Google are late to AI coding, but ‘absolutely critical’ they compete for growth
- Negative Sentiment: Alphabet’s proposed $80 billion capital raise is raising dilution concerns and signaling much heavier near-term AI capex, which is pressuring the shares. Exclusive: EU cloud rules to curb Amazon, Google access to strategic tenders, draft document shows
- Negative Sentiment: Reports that EU cloud rules could restrict Google’s access to strategic government tenders add another regulatory overhang for the company’s cloud business. Alphabet to raise $80 billion in equity capital for AI spending
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on GOOGL shares. Piper Sandler reissued an “overweight” rating and set a $445.00 price target (up from $425.00) on shares of Alphabet in a report on Monday. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday. Wedbush boosted their price target on Alphabet from $360.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, May 20th. Finally, Mizuho upped their target price on Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Two 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. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $413.33.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet 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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