ABN AMRO Bank N.V. Sells 183,988 Shares of Alphabet Inc. $GOOG

Key Points

• ABN AMRO Bank N.V. cut its Alphabet position by 42.2% in the first quarter, selling 183,988 shares and leaving it with 252,029 shares valued at about $72.8 million.
• Alphabet reported strong quarterly results, posting earnings of $5.11 per share versus expectations of $2.68 and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while Wall Street remains broadly bullish with a consensus Buy rating and average price target of $376.78.

ABN AMRO Bank N.V. decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 42.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 252,029 shares of the information services provider's stock after selling 183,988 shares during the period. ABN AMRO Bank N.V.'s holdings in Alphabet were worth $72,831,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GOOG. Imprint Wealth LLC bought a new stake in shares of Alphabet during the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $38,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the 4th quarter valued at about $38,000. Bard Associates Inc. purchased a new position in Alphabet during the 4th quarter valued at about $41,000. Finally, Towne Trust Company N.A boosted its stake in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after acquiring an additional 34 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOG stock opened at $353.33 on Wednesday. The stock's 50 day simple moving average is $366.98 and its 200 day simple moving average is $332.53. 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 12-month low of $173.88 and a 12-month high of $404.47. The stock has a market capitalization of $4.28 trillion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. 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 analyst estimates of $106.96 billion. During the same quarter last year, the company earned $2.81 EPS. The company's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business 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. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares of the company's stock, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 151,467 shares of company stock worth $4,877,600. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOOG shares. Freedom Capital cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. KeyCorp reiterated an "overweight" rating on shares of Alphabet in a report on Wednesday, May 20th. Pivotal Research reissued a "buy" rating and issued a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. TD Cowen upped their price target on Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $376.78.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, prompting a stock lift as passive funds and blue-chip investors rebalance into the shares. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google launched Nano Banana 2 Lite and Gemini Omni, cheaper and faster AI image/video models that could strengthen its AI product lineup and improve adoption. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet announced a strategic partnership with Google Cloud to build AI-powered financial intelligence tools, adding validation for Google Cloud’s enterprise AI push. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Visa and Google signed on to use OpenUSD for money movement, suggesting additional ecosystem relevance in digital payments and infrastructure. PYMNTS: Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Several reports highlighted continued bullish analyst views and higher price targets, which support sentiment but are not new fundamental changes by themselves.
• Negative Sentiment: Investors are still worried about Alphabet’s heavy AI spending, with reports noting massive compute-capacity plans and the risk that capital expenditures may weigh on near-term margins. Yahoo Finance: If You Think Alphabet’s AI Spending Is High Now, Just Wait for 2028
• Negative Sentiment: UK regulators opened a consultation aimed at loosening app-store payment restrictions, a potential pressure point for Google’s app marketplace economics. TechXplore: UK targets Apple, Google app store fees for developers
• Negative Sentiment: Recent insider sales, including by director Frances Arnold and CAO Marsida Saraci, may add a small cautionary note even though the sales were modest. SEC filing: Alphabet insider transaction

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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