Fishman Jay A Ltd. MI trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 390,412 shares of the information services provider's stock after selling 3,525 shares during the period. Alphabet comprises 10.0% of Fishman Jay A Ltd. MI's holdings, making the stock its 2nd biggest holding. Fishman Jay A Ltd. MI's holdings in Alphabet were worth $122,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its position 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 buying an additional 4,008,374 shares during the period. Capital World Investors boosted its position in Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after buying an additional 11,605,785 shares during the period. Capital Research Global Investors boosted its position in Alphabet by 15.7% in the 3rd quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock valued at $12,333,076,000 after buying an additional 6,874,381 shares during the period. Invesco Ltd. boosted its position in Alphabet by 2.3% in the 3rd quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider's stock valued at $10,984,744,000 after buying an additional 1,034,292 shares during the period. Finally, Legal & General Group Plc boosted its position in Alphabet by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 39,250,829 shares of the information services provider's stock valued at $9,541,877,000 after buying an additional 392,547 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of GOOGL opened at $400.69 on Friday. The company has a 50 day moving average price of $318.66 and a 200-day moving average price of $311.72. Alphabet Inc. has a fifty-two week low of $152.20 and a fifty-two week high of $402.00. The stock has a market capitalization of $4.85 trillion, a PE ratio of 30.56, a PEG ratio of 1.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Equities analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is presently 6.41%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on GOOGL shares. DZ Bank reissued a "buy" rating on shares of Alphabet in a research report on Monday, February 16th. Barclays reaffirmed an "overweight" rating and issued a $405.00 price target (up from $360.00) on shares of Alphabet in a research report on Thursday, April 30th. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Freedom Capital cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Wolfe Research lowered their price target on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $407.86.
View Our Latest Stock Analysis on GOOGL
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
- Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
- Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
- Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
- Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
- Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
- Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,674,560 shares in the company, valued at $508,028,012.80. The trade was a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 955 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total transaction of $284,590.00. Following the transaction, the chief accounting officer owned 9,918 shares of the company's stock, valued at approximately $2,955,564. This trade represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 158,553 shares of company stock worth $47,951,856. Insiders own 11.61% of the company's stock.
Alphabet Company Profile
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Free Report)
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.
Further Reading
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