Alphabet Inc. $GOOG Stock Holdings Reduced by Credit Industriel ET Commercial

Key Points

• Credit Industriel ET Commercial cut its Alphabet stake by 61.8% in the fourth quarter, selling 94,121 shares and leaving it with 58,109 shares worth about $18.2 million.
• Alphabet recently delivered strong quarterly results, reporting EPS of $5.11 versus expectations of $2.68 and revenue of $109.9 billion, up 21.8% year over year.
• Wall Street remains largely positive on GOOG, with an average “Buy” rating and consensus price target of $363.40, while the stock also saw a small dividend increase to $0.22 per share quarterly.

Credit Industriel ET Commercial lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 61.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,109 shares of the information services provider's stock after selling 94,121 shares during the quarter. Alphabet makes up approximately 1.4% of Credit Industriel ET Commercial's holdings, making the stock its 6th biggest position. Credit Industriel ET Commercial's holdings in Alphabet were worth $18,235,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Imprint Wealth LLC purchased a new position in Alphabet in the third quarter valued at about $31,000. Manning & Napier Advisors LLC purchased a new position in Alphabet in the third quarter valued at about $32,000. Nvest Wealth Strategies Inc. purchased a new position in Alphabet in the fourth quarter valued at about $38,000. Towne Trust Company N.A grew its stake in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after purchasing an additional 34 shares in the last quarter. Finally, Lynch Asset Management Inc. bought a new stake in shares of Alphabet during the 3rd quarter worth about $61,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. UBS Group reiterated a "neutral" rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Truist Financial set a $385.00 price target on Alphabet in a research note on Wednesday, April 22nd. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Raymond James Financial reiterated a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a research note on Thursday, April 30th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $345.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Buy" and an average target price of $363.40.

Alphabet Trading Down 1.0%

Shares of GOOG opened at $393.32 on Friday. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $399.93. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $327.44 and a 200-day simple moving average of $316.98. The stock has a market cap of $4.77 trillion, a PE ratio of 30.00, a PEG ratio of 1.70 and a beta of 1.25.

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

More Alphabet News

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 Activity

In related news, Director Frances Arnold sold 102 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares of the company's stock, valued at $6,908,391. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 617 shares of the firm'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 sale, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 157,953 shares of company stock worth $47,767,818. 12.99% of the stock is currently owned by insiders.

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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