Shelton Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,938 shares of the information services provider’s stock after selling 2,378 shares during the period. Alphabet comprises about 1.3% of Shelton Wealth Management LLC’s holdings, making the stock its 16th largest position. Shelton Wealth Management LLC’s holdings in Alphabet were worth $2,858,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of GOOGL. Symmetry Partners LLC raised its position in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after acquiring an additional 30 shares in the last quarter. Private Wealth Management Group LLC boosted its holdings in Alphabet by 1.2% in the first quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock valued at $730,000 after purchasing an additional 30 shares in the last quarter. Members Trust Co increased its stake in Alphabet by 0.5% in the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after purchasing an additional 31 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after purchasing an additional 31 shares during the last quarter. Finally, Insight 2811 Inc. raised its holdings in Alphabet by 1.0% during the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after purchasing an additional 32 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is owned by insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, equities analysts predict that Alphabet Inc. will post 14.32 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Warren Buffett said he initiated Berkshire Hathaway’s Alphabet investment, a high-profile endorsement that is helping sentiment around Alphabet (GOOGL). Warren Buffett tells CNBC he initiated Berkshire Hathaway’s investment in Alphabet
- Positive Sentiment: Multiple analyst previews say Alphabet’s AI momentum, cloud backlog, and earnings growth expectations could support another strong quarter, keeping investors upbeat ahead of results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
- Positive Sentiment: Zacks upgraded Alphabet to strong-buy, citing earnings growth expectations and attractive fundamentals relative to its valuation. Zacks upgrade to strong-buy
- Neutral Sentiment: Alphabet expanded its clean-energy commitments with its largest solar and battery storage purchase yet, which supports its long-term infrastructure strategy but is not an immediate earnings driver. Google’s biggest clean power project is 40 miles north of xAI’s unpermitted gas power plant
- Neutral Sentiment: Alphabet also drew attention for a new collaboration with INVIDI Technologies to extend addressable advertising to set-top boxes, a potentially helpful ad-tech expansion but still early-stage. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager
- Negative Sentiment: The European Commission is preparing new fines against Google, renewing regulatory risk and adding pressure to Alphabet’s legal overhang. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
- Negative Sentiment: Google is also fighting antitrust scrutiny in Europe and Switzerland, including efforts to preserve a court ruling that overturned a $1.7 billion EU fine and a new Swiss probe over Android search defaults. Google urges EU top court to back ruling scrapping $1.7 billion antitrust fine
- Negative Sentiment: Separate reports raised concerns about Google’s AI search tools and a DeepMind researcher’s resignation over the company’s Pentagon work, both of which could add reputational risk. A DeepMind researcher resigned over its AI military deal
Wall Street Analyst Weigh In
Several analysts have recently weighed in on GOOGL shares. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $393.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Oppenheimer lifted their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Arete Research boosted their price target on shares of Alphabet from $405.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Cantor Fitzgerald upped their price objective on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $413.73.
Check Out Our Latest Stock Analysis 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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