Alphabet Inc. $GOOG Shares Sold by Ovata Capital Management Ltd

Key Points

• Ovata Capital Management cut its Alphabet stake by 31.2% in the fourth quarter, selling 2,900 shares and leaving it with 6,400 shares worth about $2.0 million.
• Other institutional activity around Alphabet was mixed but generally bullish, with firms like J. Stern & Co., Norges Bank, Cardano Risk Management, and Vanguard all increasing or initiating large positions. Institutional investors and hedge funds now own about 27.26% of the stock.
• Alphabet posted strong quarterly results, beating estimates with $5.11 EPS on $109.9 billion in revenue, and it also raised its quarterly dividend to $0.22 per share.

Ovata Capital Management Ltd reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,400 shares of the information services provider's stock after selling 2,900 shares during the quarter. Ovata Capital Management Ltd's holdings in Alphabet were worth $2,003,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. J. Stern & Co. LLP lifted its stake in Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after acquiring an additional 111,699,704 shares in the last quarter. Norges Bank purchased a new position in Alphabet during the 4th quarter valued at about $18,093,665,000. Cardano Risk Management B.V. increased its holdings in shares of Alphabet by 850.3% in the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider's stock valued at $5,551,938,000 after purchasing an additional 15,830,754 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock worth $24,240,469,000 after purchasing an additional 7,904,434 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,516 shares of company stock valued at $7,344,604 in the last three months. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial set a $430.00 price objective on shares of Alphabet in a research note on Monday, June 1st. Pivotal Research restated a "buy" rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Buy" and an average price target of $376.78.

Key Alphabet News

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

Alphabet Price Performance

NASDAQ GOOG opened at $367.46 on Friday. Alphabet Inc. has a twelve month low of $163.33 and a twelve month 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 stock has a market capitalization of $4.45 trillion, a PE ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.22. The stock has a 50-day simple moving average of $364.31 and a 200 day simple moving average of $331.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 EPS. Research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

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

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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