Rockline Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,921 shares of the information services provider’s stock after purchasing an additional 2,127 shares during the quarter. Alphabet comprises about 4.1% of Rockline Wealth Management LLC’s investment portfolio, making the stock its 6th largest position. Rockline Wealth Management LLC’s holdings in Alphabet were worth $20,059,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after buying an additional 8,128,234 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after buying an additional 7,904,434 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter worth about $18,093,665,000. Alliancebernstein L.P. boosted its position in shares of Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock worth $9,749,864,000 after buying an additional 2,209,203 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Alphabet by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock worth $7,935,671,000 after buying an additional 223,743 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Oppenheimer boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. Pivotal Research reiterated a “buy” rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average target price of $376.00.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is currently owned by insiders.
Alphabet Price Performance
NASDAQ:GOOG opened at $361.17 on Tuesday. The firm has a market cap of $4.38 trillion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average is $351.67 and its two-hundred day moving average is $327.90. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.81 EPS. Research analysts expect that Alphabet Inc. will post 14.29 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued 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 an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.41%.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet continues to benefit from strong AI demand, including reports that Google may place a large chip order with Intel and that its Gemini AI efforts could generate meaningful recurring revenue. Analysts also reiterated bullish views, citing ongoing demand for AI infrastructure and capex. Intel shares soar on reported in-house chip deal with Alphabet
- Positive Sentiment: Alphabet’s Waymo unit remains a competitive strength, with news that Waymo bought a large Arizona proving ground and broader coverage highlighting Waymo’s role in the growing robotaxi race. Waymo bought Apple’s self-driving car proving ground for $220M
- Neutral Sentiment: Alphabet also drew attention after Apple’s WWDC keynote referenced Google help for AI features, reinforcing Google’s role in major AI partnerships, though the direct stock impact is less clear. Apple partnering with Google and Nvidia for most advanced AI model
- Negative Sentiment: The main drag on the stock is concern that Alphabet is aggressively raising capital and ramping spending on AI infrastructure, which could pressure near-term margins and free cash flow. Market commentary also pointed to valuation worries after the company’s recent financing plans. What’s Going On With Alphabet Stock?
- Negative Sentiment: Zacks notes GOOG has been sliding even as the broader market rose, suggesting investors are rotating away from Alphabet amid ongoing uncertainty about AI spending intensity and execution. Alphabet Inc. (GOOG) Stock Drops Despite Market Gains: Important Facts to Note
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.
Read More
- Five stocks we like better than Alphabet
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
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.
