One Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,368 shares of the information services provider’s stock after selling 2,488 shares during the quarter. Alphabet comprises approximately 1.4% of One Capital Management LLC’s holdings, making the stock its 12th largest position. One Capital Management LLC’s holdings in Alphabet were worth $46,244,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Imprint Wealth LLC acquired a new stake in shares of Alphabet in the third quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $38,000. Towne Trust Company N.A lifted its stake in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Alphabet by 29.0% in the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock worth $63,000 after buying an additional 58 shares during the last quarter. Finally, Creative Capital Management Investments LLC lifted its stake in shares of Alphabet by 1,438.5% in the fourth quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock worth $63,000 after buying an additional 187 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GOOG has been the subject of a number of analyst reports. UBS Group restated a “neutral” rating and issued a $348.00 price objective (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Truist Financial set a $430.00 target price on shares of Alphabet in a research note on Monday, June 1st. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $376.78.
Alphabet Trading Up 0.3%
Shares of GOOG stock opened at $362.29 on Wednesday. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The stock has a market cap of $4.39 trillion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.55 and a beta of 1.22. 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 firm has a fifty day moving average of $353.44 and a 200-day moving average of $328.39.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the company posted $2.81 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.
Insider Activity
In other news, Director Frances Arnold sold 102 shares of the firm’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 transaction, the director owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is currently owned by insiders.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Gemini usage growth and strong Google Cloud momentum suggest Alphabet’s AI strategy is gaining traction and could support future revenue growth.
- Positive Sentiment: TD Cowen raised its price target to $475 and reiterated a buy rating, signaling continued Wall Street confidence in Alphabet’s upside.
- Positive Sentiment: Analysts and investors continue to view Alphabet as a long-term compounder with durable Search cash flow plus cloud and AI expansion. Article Title
- Neutral Sentiment: Alphabet’s new capital-raising and AI infrastructure spending plans could help fund growth, but they also create uncertainty about near-term cash flow and dilution.
- Negative Sentiment: Reports that Alphabet is paying SpaceX about $920 million per month for AI compute add to concerns that the company is leaning on outside infrastructure to meet AI demand, increasing costs in the near term.
- Negative Sentiment: Recent commentary suggests investors are worried that elevated AI capex could pressure margins if the payoff from AI products takes longer than expected.
About Alphabet
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.
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