Oak Grove Capital LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 82,999 shares of the information services provider’s stock after selling 1,400 shares during the quarter. Alphabet comprises about 3.1% of Oak Grove Capital LLC’s investment portfolio, making the stock its 6th largest position. Oak Grove Capital LLC’s holdings in Alphabet were worth $25,979,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. TD Capital Management LLC grew its position in shares of Alphabet by 28.0% in the 4th quarter. TD Capital Management LLC now owns 1,384 shares of the information services provider’s stock worth $433,000 after acquiring an additional 303 shares in the last quarter. BDFS Capital LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $1,206,000. Tempo Wealth LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $16,216,000. GFI Investment Counsel Ltd. acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $1,762,000. Finally, Thryve Wealth Management LLC bought a new position in Alphabet during the fourth quarter worth $920,000. Institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. KeyCorp reiterated an “overweight” rating and set a $425.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $435.00 target price (up from $427.00) on shares of Alphabet in a report on Wednesday, May 20th. Citizens Jmp reissued a “market outperform” rating and issued a $515.00 price target on shares of Alphabet in a report on Wednesday, May 20th. Sanford C. Bernstein restated a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Bank of America boosted their price objective on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $413.13.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $368.48 on Friday. The firm’s 50 day moving average is $367.04 and its two-hundred day moving average is $331.95. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The firm has a market capitalization of $4.46 trillion, a P/E ratio of 28.11, a PEG 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.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet is being viewed as a major AI winner thanks to ongoing investment in AI infrastructure and data centers, which could support future cloud and AI revenue growth. Article Title
- Positive Sentiment: Reports that Berkshire Hathaway nearly tripled its Alphabet position may be seen as a strong vote of confidence from a major long-term investor. Article Title
- Positive Sentiment: Coverage emphasizing Alphabet’s strong earnings and expanding Google Cloud backlog supports the case for continued fundamental improvement. Article Title
- Neutral Sentiment: Alphabet’s stock is drawing increased investor attention and analyst commentary, but these are mostly sentiment-driven mentions rather than new company-specific catalysts. Article Title
- Negative Sentiment: Noam Shazeer, a top Google DeepMind/Gemini AI leader, is leaving for OpenAI, underscoring the competitive AI talent war. Article Title
- Negative Sentiment: John Jumper is also departing Google DeepMind for Anthropic, adding to concerns that Alphabet may be losing key AI researchers. Article Title
- Negative Sentiment: Waymo’s recall of nearly 3,900 robotaxis after construction-zone driving errors raises safety and regulatory concerns for Alphabet’s autonomous vehicle business. Article Title
- Negative Sentiment: The UK ordering Google to improve search-ranking transparency highlights continued regulatory scrutiny over its core search business. Article Title
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,516 shares of company stock worth $7,344,604 in the last ninety days. 11.61% of the stock is currently owned by corporate insiders.
About Alphabet
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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