Peregrine Investment Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 31.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,680 shares of the information services provider’s stock after selling 7,690 shares during the quarter. Alphabet accounts for 3.8% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. Peregrine Investment Management Inc.’s holdings in Alphabet were worth $4,797,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its stake in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. State Street Corp raised its position in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after buying an additional 4,008,374 shares during the period. Geode Capital Management LLC lifted its holdings in Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the last quarter. Norges Bank purchased a new position in Alphabet in the fourth quarter worth approximately $30,534,239,000. Finally, Bank of America Corp DE grew its position in Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock worth $21,630,861,000 after acquiring an additional 3,218,852 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were 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. In the last ninety days, insiders have sold 160,516 shares of company stock valued at $7,344,604. Insiders own 11.61% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Research Report on GOOGL
Alphabet Trading Down 0.9%
NASDAQ GOOGL opened at $346.66 on Wednesday. The firm has a 50 day simple moving average of $368.25 and a 200-day simple moving average of $332.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a one year low of $166.13 and a one year high of $408.61. The firm has a market cap of $4.20 trillion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.50 and a beta of 1.23.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Equities research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet will replace Verizon in the Dow Jones Industrial Average effective June 29, a notable prestige boost that could support passive fund buying and improve investor sentiment. Alphabet Set to Join and Honeywell International to Remain in Dow Jones Industrial Average
- Positive Sentiment: Jefferies reaffirmed its Buy rating on Alphabet, reinforcing confidence in the company’s long-term outlook. Alphabet had its “buy” rating reaffirmed by Jefferies Financial Group Inc.
- Positive Sentiment: Alphabet remains a major AI infrastructure beneficiary, with reports noting accelerating demand at Google Cloud, quarterly cloud revenue above $20 billion, and strong enterprise AI adoption. Alphabet Rides on Accelerating AI Infrastructure Demand: What’s Ahead?
- Neutral Sentiment: Google DeepMind announced a $75 million AI research partnership with A24, signaling continued investment in AI applications outside core search and cloud. Google DeepMind signs AI research deal with film studio A24
- Neutral Sentiment: Alphabet is still dominant in search, but new reports suggest competition from AI-powered alternatives is putting pressure on its long-term search leadership. Google’s online dominance Is showing signs of cracking in AI era
- Negative Sentiment: Investor sentiment was hurt by the departure of key AI figures, including Noam Shazeer and John Jumper, raising concerns that Alphabet is losing talent to OpenAI and Anthropic. Alphabet paces for worst day in a year on AI concerns after high-profile exits
- Negative Sentiment: Several reports say Google’s search dominance may be starting to crack as users test non-AI or AI-free search options, adding pressure on the company’s core revenue engine. Google Losing Ground as Consumers Seek Out Non-AI Search
- Negative Sentiment: Broader market concern over heavy AI capital spending and higher rates also weighed on megacap tech shares, contributing to Alphabet’s weakness. Alphabet, SpaceX, Intel, and More Stocks That Explain Today’s Market
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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