Alphabet Inc. $GOOG is ICICI Prudential Asset Management Co Ltd's 8th Largest Position

Key Points

• ICICI Prudential Asset Management cut its Alphabet stake by 26.9% in the fourth quarter, though GOOG remains its 8th-largest holding at 2.1% of assets. The position was still worth about $18.3 million in the latest filing.
• Alphabet beat earnings expectations for the latest quarter, reporting $5.11 EPS versus the $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year. The company also announced a small dividend increase to $0.22 per share quarterly.
• Analyst sentiment remains bullish, with several firms raising price targets and the stock maintaining an average “Buy” rating. MarketBeat notes 5 Strong Buy ratings, 29 Buy ratings, and a consensus target price of $376.78.

ICICI Prudential Asset Management Co Ltd decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,361 shares of the information services provider's stock after selling 21,512 shares during the quarter. Alphabet accounts for about 2.1% of ICICI Prudential Asset Management Co Ltd's holdings, making the stock its 8th biggest holding. ICICI Prudential Asset Management Co Ltd's holdings in Alphabet were worth $18,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Burkett Asset Management Ltd purchased a new position in shares of Alphabet in the fourth quarter valued at approximately $367,000. Manchester Financial Inc. lifted its position in shares of Alphabet by 1.0% during the 4th quarter. Manchester Financial Inc. now owns 7,821 shares of the information services provider's stock worth $2,454,000 after buying an additional 75 shares during the last quarter. NDVR Inc. lifted its position in shares of Alphabet by 19.0% during the 4th quarter. NDVR Inc. now owns 4,004 shares of the information services provider's stock worth $1,256,000 after buying an additional 639 shares during the last quarter. Meiji Yasuda America Inc purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $27,617,000. Finally, Cowa LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $451,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 0.9%

GOOG stock opened at $356.56 on Friday. The company has a fifty day moving average price of $356.44 and a 200 day moving average price of $329.24. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. The company has a market cap of $4.32 trillion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.22. 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 released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $106.96 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a research report on Wednesday, May 20th. Needham & Company LLC set a $400.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a research report on Friday, March 13th. TD Cowen boosted their price objective on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Tuesday. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Finally, Pivotal Research restated a "buy" rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average 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 shareholders approved an expansion of the company’s stock plan and re-elected the board, a routine but shareholder-friendly governance update that signals continuity and support for management. Alphabet Shareholders Approve Stock Plan Expansion, Reelect Board
• Positive Sentiment: Waymo, Alphabet’s self-driving unit, launched a $29.99 monthly “Premier” subscription and added perks like cash back and free cancellations, suggesting Alphabet is still pushing to monetize robotaxi demand in high-usage markets. Waymo launches premier subscription tier
• Positive Sentiment: Alphabet is expanding its AI footprint through new Google chip plans and continued infrastructure support for Anthropic, reinforcing the view that Google Cloud and its AI ecosystem could benefit from long-term demand. Google in talks with Samsung to make next-generation chips
• Positive Sentiment: Several reports highlighted bullish analyst and investor sentiment, including higher earnings estimates and Alphabet’s continued status as a favored large-cap AI name. Analyst estimate updates and AI-stock commentary
• Neutral Sentiment: Google said it identified an active cyber extortion campaign targeting Oracle PeopleSoft users via a ShinyHunters exploit; the issue appears to be a threat-intelligence update rather than a direct breach of Alphabet systems. Google says ShinyHunters hackers targeting education sector via Oracle exploit
• Neutral Sentiment: Alphabet’s Gemini and AI Overview products drew more scrutiny, including reports of search/AI controversy and temporary Workspace AI errors, which may keep debate alive around product quality and AI monetization. Google Stock Drops as AI Overview Faces Fresh Controversy
• Negative Sentiment: Investor concern remains centered on heavy capex and how quickly Alphabet can turn AI spending into durable revenue, especially as some commentary questioned search monetization and data-center economics. Alphabet Stock Opinions on Capital Raise and AI Challenges
• Negative Sentiment: A California judge denied a new trial in the youth social media addiction case involving YouTube, leaving Alphabet exposed to ongoing legal and reputational risk. Meta and Google denied new trial after landmark verdict

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction 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. Insiders have sold 193,016 shares of company stock worth $17,282,549 over the last 90 days. Company insiders own 12.99% of the company's stock.

About Alphabet

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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