EJMK Ventures LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,123 shares of the information services provider’s stock after selling 1,681 shares during the period. Alphabet accounts for about 1.5% of EJMK Ventures LLC’s holdings, making the stock its 14th biggest position. EJMK Ventures LLC’s holdings in Alphabet were worth $2,623,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the 4th 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 in the last quarter. State Street Corp increased its stake in 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 purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC raised its holdings in Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after buying an additional 2,666,676 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $30,534,239,000. Finally, Bank of America Corp DE lifted its stake in shares of 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 valued at $21,630,861,000 after buying an additional 3,218,852 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
- Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
- Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
- Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
- Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
- Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
- Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
- Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
- Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $106.98 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 14.32 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. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Insider Activity at Alphabet
In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on GOOGL. Mizuho lifted their price objective on shares of Alphabet from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Canaccord Genuity Group raised their price target on shares of Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Truist Financial set a $430.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, CICC Research boosted their price objective on Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $413.54.
Check Out Our Latest Stock Report on GOOGL
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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