Alphabet Inc. $GOOGL is Coerente Capital Management's Largest Position

Key Points

• Coerente Capital Management trimmed its Alphabet stake by 12% in the first quarter, but Alphabet remains its largest holding at 9.3% of the portfolio, worth about $49.8 million.
• Alphabet posted a strong quarterly result, with EPS of $5.11 easily beating expectations of $2.64 and revenue of $109.9 billion topping estimates as well.
• Wall Street remains broadly bullish on the stock: analysts have a Moderate Buy consensus with an average price target of $413.13, while Alphabet also recently raised its quarterly dividend to $0.22 per share.

Coerente Capital Management lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 173,223 shares of the information services provider's stock after selling 23,587 shares during the quarter. Alphabet comprises about 9.3% of Coerente Capital Management's holdings, making the stock its largest holding. Coerente Capital Management's holdings in Alphabet were worth $49,812,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. State Street Corp boosted its holdings in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after purchasing an additional 2,666,676 shares during the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE grew its stake in shares of Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after buying an additional 3,218,852 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $337.39 on Monday. 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 market cap of $4.09 trillion, a P/E ratio of 25.74, a P/E/G ratio of 1.44 and a beta of 1.23. The firm's 50 day moving average price is $368.94 and its 200-day moving average price is $333.02. Alphabet Inc. has a one year low of $171.73 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, equities research analysts predict that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is presently 6.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore raised their price target on shares of Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Cantor Fitzgerald upped their price objective on Alphabet from $395.00 to $465.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. KeyCorp reissued an "overweight" rating and set a $425.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Rothschild & Co Redburn lifted their target price on Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $413.13.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here's Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 617 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This trade 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. Insiders sold a total of 151,523 shares of company stock worth $4,863,526 in the last 90 days. Insiders own 11.61% of the company's stock.

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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