Allstate Corp increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 108.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 372,429 shares of the information services provider's stock after purchasing an additional 193,895 shares during the period. Alphabet makes up 1.6% of Allstate Corp's investment portfolio, making the stock its 15th largest holding. Allstate Corp's holdings in Alphabet were worth $116,868,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Kathmere Capital Management LLC grew its position in shares of Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock worth $9,381,000 after buying an additional 2,341 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Alphabet by 31.3% in the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider's stock worth $86,345,000 after acquiring an additional 84,553 shares during the period. Baltimore Washington Financial Advisors Inc. grew its holdings in Alphabet by 0.9% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock worth $53,920,000 after acquiring an additional 2,009 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after purchasing an additional 4,239 shares during the period. Finally, Steginsky Capital LLC increased its position in Alphabet by 1.0% during the 3rd quarter. Steginsky Capital LLC now owns 680,588 shares of the information services provider's stock valued at $165,757,000 after purchasing an additional 6,523 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Activity
In other Alphabet news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 193,016 shares of company stock valued at $17,282,549. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Performance
GOOG opened at $355.68 on Thursday. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.31 trillion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.22. The firm's 50-day moving average price is $346.94 and its 200-day moving average price is $326.15.
Alphabet (NASDAQ:GOOG - Get Free Report) last released 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. The company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the business earned $2.81 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 14.28 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's payout ratio is presently 6.41%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on GOOG. Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research note on Monday. Scotiabank restated an "outperform" rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 price target on Alphabet in a research report on Wednesday, May 20th. Finally, Oppenheimer upped their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $376.00.
Check Out Our Latest Stock Analysis on GOOG
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet expanded its collaboration with Google Cloud and Lovable in a multi-year deal, reinforcing demand for Google Cloud infrastructure and AI tools. Lovable Expands Collaboration With Google Cloud to Scale AI-Powered Software Creation
- Positive Sentiment: Multiple reports highlighted strong investor appetite for Alphabet’s AI expansion, including an upsized equity raise to $84.75 billion and Berkshire Hathaway’s planned $10 billion participation, which signals outside confidence in the company’s AI strategy. Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
- Positive Sentiment: Alphabet said its Gemini AI app has reached 900 million users, underscoring momentum in its consumer AI products and supporting the long-term growth story. Alphabet’s Gemini AI App Surges to 900 Million Users
- Neutral Sentiment: Analysts remain broadly constructive, with several firms reiterating buy ratings and price targets around the low-to-mid $400s, suggesting Wall Street still sees upside despite recent volatility. Google to See Variable Margins, Cloud Segment Growth Through 2028, UBS Says
- Negative Sentiment: UK regulators imposed new conduct requirements on Google Search, including letting publishers opt out of AI search features and model training, which could weaken the economics of AI Overviews and increase regulatory pressure. UK regulator enforces new competition requirements for Google search
- Negative Sentiment: Investors also appear uneasy about the scale of Alphabet’s AI spending plans, since the huge capital raise raises dilution concerns and suggests heavy infrastructure costs ahead. Alphabet plans to raise $80 billion to pay for AI buildout
About Alphabet
(
Free Report)
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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