Alphabet Inc. $GOOG Shares Sold by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd reduced its Alphabet stake by 35.9% in the fourth quarter, selling 11,180 shares and leaving it with 19,945 shares valued at about $6.26 million.
• Alphabet posted strong quarterly results, reporting $5.11 EPS versus $2.68 expected 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, though the annual yield remains low at 0.2%.

Maxi Investments CY Ltd cut its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,945 shares of the information services provider's stock after selling 11,180 shares during the quarter. Alphabet comprises 1.1% of Maxi Investments CY Ltd's portfolio, making the stock its 22nd biggest position. Maxi Investments CY Ltd's holdings in Alphabet were worth $6,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock valued at $330,886,000 after buying an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $658,000. Financial Advisors Network Inc. grew its stake in shares of Alphabet by 7.7% in the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock valued at $1,409,000 after buying an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. grew its stake in shares of Alphabet by 10.7% in the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock valued at $6,618,000 after buying an additional 3,616 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $393.32 on Monday. The company has a market capitalization of $4.77 trillion, a P/E ratio of 30.00, a P/E/G ratio of 1.68 and a beta of 1.25. Alphabet Inc. has a one year low of $163.33 and a one year high of $399.93. 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 stock has a 50-day moving average price of $327.44 and a 200 day moving average price of $317.31.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.81 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal 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 issued a $0.22 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is currently 6.41%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $302.99, for a total value of $33,934.88. Following the completion of the transaction, the director owned 18,418 shares of the company's stock, valued at approximately $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 955 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares of the company's stock, valued at $2,955,564. This represents a 8.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 157,953 shares of company stock valued at $47,767,818 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $395.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $370.00 target price on shares of Alphabet in a research note on Tuesday, January 20th. Pivotal Research reiterated a "buy" rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $345.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Finally, Scotiabank reiterated an "outperform" rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $363.40.

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.

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.