Pioneer Trust Bank N A OR decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 82,317 shares of the information services provider’s stock after selling 8,895 shares during the quarter. Alphabet makes up 6.0% of Pioneer Trust Bank N A OR’s holdings, making the stock its 3rd biggest holding. Pioneer Trust Bank N A OR’s holdings in Alphabet were worth $25,831,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Kathmere Capital Management LLC raised its holdings in shares of Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Alphabet by 31.3% during the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider’s stock valued at $86,345,000 after acquiring an additional 84,553 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Alphabet by 0.9% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock valued at $53,920,000 after acquiring an additional 2,009 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after acquiring an additional 4,239 shares during the last quarter. Finally, Steginsky Capital LLC raised its holdings in shares of Alphabet by 1.0% during the third quarter. Steginsky Capital LLC now owns 680,588 shares of the information services provider’s stock valued at $165,757,000 after acquiring an additional 6,523 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 in the last ninety days. Company insiders own 12.99% of the company’s stock.
Trending Headlines about Alphabet
- Positive Sentiment: Alphabet expanded its collaboration with Google Cloud and Lovable in a multi-year deal, reinforcing demand for Google Cloud infrastructure and AI tools. Lovable Expands Collaboration With Google Cloud to Scale AI-Powered Software Creation
- Positive Sentiment: Multiple reports highlighted strong investor appetite for Alphabet’s AI expansion, including an upsized equity raise to $84.75 billion and Berkshire Hathaway’s planned $10 billion participation, which signals outside confidence in the company’s AI strategy. Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
- Positive Sentiment: Alphabet said its Gemini AI app has reached 900 million users, underscoring momentum in its consumer AI products and supporting the long-term growth story. Alphabet’s Gemini AI App Surges to 900 Million Users
- Neutral Sentiment: Analysts remain broadly constructive, with several firms reiterating buy ratings and price targets around the low-to-mid $400s, suggesting Wall Street still sees upside despite recent volatility. Google to See Variable Margins, Cloud Segment Growth Through 2028, UBS Says
- Negative Sentiment: UK regulators imposed new conduct requirements on Google Search, including letting publishers opt out of AI search features and model training, which could weaken the economics of AI Overviews and increase regulatory pressure. UK regulator enforces new competition requirements for Google search
- Negative Sentiment: Investors also appear uneasy about the scale of Alphabet’s AI spending plans, since the huge capital raise raises dilution concerns and suggests heavy infrastructure costs ahead. Alphabet plans to raise $80 billion to pay for AI buildout
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Truist Financial set a $430.00 target price on Alphabet in a report on Monday. Scotiabank reiterated an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. TD Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday, May 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $376.00.
Get Our Latest Stock Analysis on Alphabet
Alphabet Trading Down 0.8%
Shares of Alphabet stock opened at $355.68 on Thursday. The firm has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.54 and a beta of 1.22. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a 50 day moving average of $346.94 and a 200 day moving average of $326.15.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.81 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 14.28 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.
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.
Featured Articles
- Five stocks we like better than Alphabet
- Coke’s $10B India IPO Plan Pops the Top on Hidden Value
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
