Alphabet Inc. $GOOG Holdings Cut by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Alphabet stake by 1.4% in the fourth quarter, selling 186,008 shares. Even after the trim, Alphabet remained HSBC’s 8th-largest position and represented about 2.3% of its portfolio.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus analysts’ $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year. The company also posted a 37.92% net margin and 38.99% return on equity.
• Wall Street remains bullish on GOOG, with several firms raising price targets and the stock carrying an overall “Buy” consensus. The article also notes a modest dividend increase to $0.22 per share quarterly, or $0.88 annually.

Hsbc Holdings PLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,826,306 shares of the information services provider's stock after selling 186,008 shares during the period. Alphabet accounts for 2.3% of Hsbc Holdings PLC's investment portfolio, making the stock its 8th biggest position. Hsbc Holdings PLC owned about 0.11% of Alphabet worth $4,025,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Kathmere Capital Management LLC grew its holdings in shares of Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock worth $9,381,000 after purchasing an additional 2,341 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its stake in Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock valued at $53,920,000 after purchasing an additional 2,009 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its stake in Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock valued at $86,596,000 after purchasing an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in Alphabet by 7.5% during the fourth 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 last quarter. Finally, Steginsky Capital LLC lifted its position in Alphabet by 1.0% during the third 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 last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $367.46 on Monday. The stock has a market capitalization of $4.45 trillion, a P/E ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a one year low of $163.33 and a one year high of $404.47. The firm's 50 day simple moving average is $364.31 and its two-hundred day simple moving average is $331.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. TD Cowen increased their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $435.00 price objective on shares of Alphabet in a report on Tuesday, June 2nd. Raymond James Financial reiterated a "strong-buy" rating and issued a $425.00 target price on shares of Alphabet in a research report on Thursday, April 30th. KeyCorp reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a "buy" rating in a research report on Friday, March 13th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Buy" and an average target price of $376.78.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the firm's 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 transaction, the director directly owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,516 shares of company stock worth $7,344,604 over the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Company 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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