Alphabet Inc. $GOOGL is CORDA Investment Management LLC.'s Largest Position

Key Points

• CORDA Investment Management trimmed its Alphabet stake by 2.2% in the fourth quarter, but Alphabet remains its largest position at 4.9% of holdings, valued at about $67.1 million.
• Alphabet continues to draw bullish analyst coverage, with multiple firms raising price targets and the stock carrying an average Moderate Buy rating and $412.65 target price.
• The company posted strong quarterly results and increased its dividend to $0.22 per share, while ongoing AI investment, ad-product launches, and antitrust risks remain key themes for investors.

CORDA Investment Management LLC. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 214,410 shares of the information services provider's stock after selling 4,757 shares during the period. Alphabet comprises approximately 4.9% of CORDA Investment Management LLC.'s holdings, making the stock its biggest position. CORDA Investment Management LLC.'s holdings in Alphabet were worth $67,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PMV Capital Advisers LLC bought a new position in Alphabet in the fourth quarter worth approximately $38,000. Kentucky Trust Co grew its position in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after acquiring an additional 100 shares during the period. iSAM Funds UK Ltd bought a new stake in shares of Alphabet during the 3rd quarter valued at $53,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Alphabet in the 3rd quarter worth $53,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth $69,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being highlighted as a strong AI investment thanks to its vertically integrated AI stack and cloud growth, which some analysts say could help it compete effectively in the booming AI data center market.
• Positive Sentiment: Google rolled out new AI-powered ad products at Marketing Live, including Gemini-based ad formats and AI search checkout tools, which could expand ad monetization and strengthen its core advertising business. Article Title
• Positive Sentiment: Reports that Alphabet may invest up to $190 billion by 2026 underscore its aggressive push into AI and infrastructure, signaling continued long-term spending to defend and grow its leadership position.
• Positive Sentiment: Coverage suggesting Alphabet has the tools to win the AI race and remains a top-ranked growth stock may be reinforcing investor confidence in the company’s earnings and strategic outlook.
• Neutral Sentiment: Alphabet’s Waymo unit faced service interruptions in some cities due to flooded roads and construction zones, a reminder that the autonomous driving business still has operational hurdles.
• Neutral Sentiment: Commentary around Google’s AI security challenges and its smart-glasses partnerships adds to the long-term innovation story, but these developments are not likely to move the stock immediately.
• Negative Sentiment: The European Union is reportedly preparing to fine Google a high triple-digit million-euro amount as part of an antitrust investigation, increasing regulatory risk for Alphabet’s core business and pressuring sentiment. Article Title
• Negative Sentiment: Google is also appealing a court ruling tied to its search monopoly, keeping antitrust uncertainty alive for investors focused on the durability of its search dominance.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director owned 3,581 shares in the company, valued at $1,187,638.65. The trade was a 22.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the transaction, the chief executive officer directly owned 1,674,560 shares of the company's stock, valued at $508,028,012.80. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 226,481 shares of company stock valued at $27,422,061 in the last quarter. Company insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOGL. Morgan Stanley lifted their target price on Alphabet from $330.00 to $375.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Mizuho upped their price target on Alphabet from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. China Renaissance raised their price objective on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Guggenheim reiterated a "buy" rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $412.65.

Alphabet Price Performance

Shares of GOOGL opened at $382.97 on Tuesday. The business's 50 day moving average is $339.34 and its 200 day moving average is $322.26. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a market capitalization of $4.64 trillion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. 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 the consensus estimate of $106.98 billion. Research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is currently 6.41%.

Alphabet Company 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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - 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.