Alphabet Inc. $GOOG Shares Sold by BNP Paribas

Key Points

• BNP Paribas cut its Alphabet stake by 5.3% in the fourth quarter, selling 21,891 shares and leaving it with 388,602 shares worth about $122 million.
• Alphabet reported strong quarterly results, with earnings of $5.11 per share versus estimates of $2.68 and revenue up 21.8% year over year to $109.9 billion.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly positive with an average “Buy” rating and a consensus price target of $376.78.

BNP Paribas decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 388,602 shares of the information services provider's stock after selling 21,891 shares during the period. Alphabet makes up approximately 3.5% of BNP Paribas' investment portfolio, making the stock its 6th largest position. BNP Paribas' holdings in Alphabet were worth $121,971,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Nvest Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Imprint Wealth LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $31,000. Towne Trust Company N.A increased its holdings in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after buying an additional 34 shares during the last quarter. Creative Capital Management Investments LLC increased its holdings in shares of Alphabet by 1,438.5% during the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider's stock worth $63,000 after buying an additional 187 shares during the last quarter. Finally, Blueline Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 0.3%

Alphabet stock opened at $362.29 on Wednesday. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a 50 day moving average price of $353.44 and a 200 day moving average price of $328.39. The company has a market capitalization of $4.39 trillion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.55 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 earnings per share 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 last year, the firm earned $2.81 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a $0.22 dividend. This is a boost 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 6.71%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on 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 completion of the sale, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the sale, the director owned 18,721 shares of the company's stock, valued at $7,132,701. This trade represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,016 shares of company stock worth $17,282,549 in the last three months. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOG shares. Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. TD Cowen raised 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. Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a report on Wednesday, May 20th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. Five investment 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 stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $376.78.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Gemini usage growth and strong Google Cloud momentum suggest Alphabet’s AI strategy is gaining traction and could support future revenue growth.
• Positive Sentiment: TD Cowen raised its price target to $475 and reiterated a buy rating, signaling continued Wall Street confidence in Alphabet’s upside.
• Positive Sentiment: Analysts and investors continue to view Alphabet as a long-term compounder with durable Search cash flow plus cloud and AI expansion. Article Title
• Neutral Sentiment: Alphabet’s new capital-raising and AI infrastructure spending plans could help fund growth, but they also create uncertainty about near-term cash flow and dilution.
• Negative Sentiment: Reports that Alphabet is paying SpaceX about $920 million per month for AI compute add to concerns that the company is leaning on outside infrastructure to meet AI demand, increasing costs in the near term.
• Negative Sentiment: Recent commentary suggests investors are worried that elevated AI capex could pressure margins if the payoff from AI products takes longer than expected.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.