Alphabet Inc. $GOOGL is Geneva Partners LLC's 2nd Largest Position

Key Points

• Geneva Partners LLC reduced its Alphabet stake by 18.8% in the first quarter, selling 10,947 shares. Even after the trim, Alphabet remained its 2nd-largest holding, making up about 6.5% of the portfolio.
• Wall Street remains broadly bullish on Alphabet, with a consensus rating of “Moderate Buy” and an average price target of $413.73. Several firms recently reiterated buy or outperform ratings and raised price targets.
• Alphabet continues to post strong financial results and return capital to shareholders, recently beating quarterly EPS and revenue estimates and increasing its quarterly dividend to $0.22 per share. The stock was also noted as being down 4.4% in the latest trading session.

Geneva Partners LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,306 shares of the information services provider's stock after selling 10,947 shares during the period. Alphabet accounts for approximately 6.5% of Geneva Partners LLC's portfolio, making the stock its 2nd largest holding. Geneva Partners LLC's holdings in Alphabet were worth $13,603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the period. 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 period. 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 period. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter valued at $30,534,239,000. Finally, Bank of America Corp DE grew its position in shares of Alphabet by 4.9% during 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 purchasing an additional 3,218,852 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Robert W. Baird upped their target price on Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. HSBC reaffirmed a "buy" rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. CICC Research lifted their price target on Alphabet from $388.00 to $407.91 and gave the company an "outperform" rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group boosted their price objective on Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Three 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, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $413.73.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America said Alphabet could beat second-quarter expectations, citing strength in Google Cloud and a potential boost from its Anthropic stake; the firm raised estimates and kept a bullish view. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Multiple analysts reiterated constructive views on Alphabet ahead of earnings, with reports highlighting earnings growth, price strength, and a favorable setup for the upcoming results. Alphabet Set for Solid Quarterly Results on Cloud Strength, BofA Says
• Positive Sentiment: Warren Buffett’s comments that he initiated Berkshire Hathaway’s Alphabet investment added a sentiment boost, reinforcing confidence in the stock’s long-term appeal. Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Google also unveiled product updates in AI Mode and Google Vids, which support the view that Alphabet is still expanding its AI ecosystem and monetization opportunities. Google's AI Mode now lets you link and interact with select apps
• Neutral Sentiment: Alphabet remains a major earnings watch name ahead of next week’s report, with investors focused on Cloud growth, Search resilience, and capital spending trends.
• Negative Sentiment: Bloomberg reported that Google’s Gemini 3.5 Pro AI model is months behind schedule and has fallen short of internal coding goals, raising questions about execution in a key AI product area. Google Gemini launch delayed as tech falls short of internal goals, Bloomberg News reports
• Negative Sentiment: The European Union issued new rules requiring Google to share more search data and open Android to rival AI companies, adding to Alphabet’s regulatory overhang in Europe. Google required to open up to AI, search engine rivals under EU-mandated changes
• Negative Sentiment: Law firms also announced a securities fraud investigation tied to the AI delay report, which can increase investor caution and volatility around the stock. Securities Fraud Investigation Into Alphabet Inc. (GOOG) Announced

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director owned 1,481 shares of the company's stock, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 159,415 shares of company stock valued at $7,672,279 over the last 90 days. Company insiders own 11.61% of the company's stock.

Alphabet Stock Down 4.4%

GOOGL opened at $354.46 on Friday. The business's fifty day simple moving average is $369.97 and its 200 day simple moving average is $337.91. Alphabet Inc. has a 52 week low of $180.48 and a 52 week high of $408.61. 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 stock has a market cap of $4.29 trillion, a PE ratio of 27.04, a P/E/G ratio of 1.58 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) 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 firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. As a group, research analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is presently 6.71%.

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.

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