Alphabet Inc. $GOOGL is Beese Fulmer Investment Management Inc.'s 6th Largest Position

Key Points

• Beese Fulmer Investment Management increased its Alphabet stake by 1.2% in the fourth quarter, bringing its holdings to 153,864 shares worth about $48.2 million. Alphabet is now its 6th largest position, representing 2.8% of the portfolio.
• Alphabet continues to attract strong institutional and analyst support, with 40.03% of shares held by hedge funds and other institutions and Wall Street maintaining an average Moderate Buy rating. The consensus price target is $413.04.
• Recent catalysts are centered on AI and cloud growth, including Alphabet raising its capital plan to $84.75 billion for AI infrastructure and reports that Apple may use Google Cloud for a revamped Siri. Alphabet also posted strong quarterly results, beating EPS and revenue estimates, and recently increased its quarterly dividend to $0.22 per share.

Beese Fulmer Investment Management Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,864 shares of the information services provider's stock after acquiring an additional 1,880 shares during the quarter. Alphabet accounts for about 2.8% of Beese Fulmer Investment Management Inc.'s investment portfolio, making the stock its 6th largest holding. Beese Fulmer Investment Management Inc.'s holdings in Alphabet were worth $48,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Accredited Investors Inc. boosted its holdings in Alphabet by 10.2% during the 4th quarter. Accredited Investors Inc. now owns 19,187 shares of the information services provider's stock valued at $6,006,000 after acquiring an additional 1,776 shares during the period. Millennium Capital Advisors LLC purchased a new stake in Alphabet during the 4th quarter valued at about $4,038,000. Canada Post Corp Registered Pension Plan boosted its holdings in Alphabet by 9.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 275,275 shares of the information services provider's stock valued at $86,161,000 after acquiring an additional 23,838 shares during the period. O Brien Greene & Co. Inc boosted its holdings in Alphabet by 2.7% during the 4th quarter. O Brien Greene & Co. Inc now owns 4,520 shares of the information services provider's stock valued at $1,415,000 after acquiring an additional 120 shares during the period. Finally, Stephens Investment Management Group LLC raised its position in Alphabet by 34.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,750 shares of the information services provider's stock valued at $548,000 after purchasing an additional 451 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 193,016 shares of company stock worth $17,282,549. Company insiders own 11.61% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Pivotal Research upped their price target on Alphabet from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Finally, China Renaissance upped their price target on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $413.04.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet raised its capital plan to $84.75 billion to fund AI infrastructure and cloud capacity, signaling it expects strong demand for compute and is willing to invest heavily to protect and grow its long-term AI position. Reuters article
• Positive Sentiment: Apple reportedly tapped Google Cloud to help power a revamped Siri, which could add a high-profile customer for Alphabet’s cloud business and reinforce its AI infrastructure monetization story. PYMNTS article
• Positive Sentiment: Lovable expanded its multi-year Google Cloud relationship, another sign that Google Cloud is winning AI-related usage and customer growth. TechCrunch article
• Positive Sentiment: Needham reiterated a buy rating and a $450 price target, reflecting continued analyst confidence in Alphabet’s cloud and AI growth potential. Benzinga article
• Neutral Sentiment: Several prominent investors, including Berkshire Hathaway and ARK, were reported as buying Alphabet shares, which supports sentiment but does not change fundamentals on its own. Barron's article
• Neutral Sentiment: Alphabet also received a softer-than-feared UK antitrust ruling that requires new conduct changes and lets publishers opt out of AI training, which may limit some data use but reduces the risk of a harsher regulatory outcome. Reuters article
• Negative Sentiment: Reports that Google is quietly laying off staff in Cloud, including parts of its cybersecurity team, may weigh on sentiment by raising questions about cost discipline and internal restructuring. Business Insider article

Alphabet Stock Performance

Shares of GOOGL opened at $372.19 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business's 50 day moving average price is $351.15 and its 200-day moving average price is $327.52. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The stock has a market cap of $4.51 trillion, a P/E ratio of 28.39, a P/E/G ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Equities research analysts anticipate that Alphabet Inc. will post 14.28 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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