Epoch Investment Partners Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 778,823 shares of the information services provider’s stock after selling 70,669 shares during the quarter. Alphabet comprises approximately 1.4% of Epoch Investment Partners Inc.’s holdings, making the stock its 8th largest holding. Epoch Investment Partners Inc.’s holdings in Alphabet were worth $243,772,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in GOOGL. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY lifted its stake in shares of Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares during the period. Finally, United Bank lifted its stake in shares of Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after purchasing an additional 3,120 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Alphabet from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, May 20th. Robert W. Baird upped their price objective on shares of Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Tigress Financial set a $415.00 price objective on shares of Alphabet and gave the company a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Susquehanna restated a “positive” rating and issued a $460.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
- Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
- Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
- Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
- Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
- Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected
Alphabet Price Performance
GOOGL stock opened at $359.68 on Friday. The stock has a 50-day moving average price of $360.45 and a two-hundred day moving average price of $330.26. The stock has a market cap of $4.36 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.54 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. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities analysts forecast that Alphabet Inc. will post 14.3 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. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. 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 6.71%.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares in the company, valued at $505,573,853.40. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,016 shares of company stock worth $17,282,549 over the last three months. Company insiders own 11.61% of the company’s stock.
Alphabet Company 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.
Further Reading
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