Alphabet Inc. $GOOGL Shares Acquired by Reynders McVeigh Capital Management LLC

Key Points

• Reynders McVeigh Capital Management boosted its Alphabet stake by 62.4% in the fourth quarter, buying 157,626 more shares and lifting its total to 410,164 shares worth about $128.5 million.
• Alphabet’s recent momentum is being driven by AI and cloud growth, with Q1 results topping expectations and Google Cloud sales accelerating alongside new AI products and search experiences announced at Google I/O.
• The stock still faces important risks, including Google’s ongoing antitrust appeal and operational scrutiny at Waymo, even as analysts remain broadly positive and Alphabet raised its quarterly dividend to $0.22 per share.

Reynders McVeigh Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 410,164 shares of the information services provider's stock after buying an additional 157,626 shares during the quarter. Alphabet makes up approximately 6.0% of Reynders McVeigh Capital Management LLC's portfolio, making the stock its 3rd biggest position. Reynders McVeigh Capital Management LLC's holdings in Alphabet were worth $128,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its stake 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 lifted its stake in Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Capital World Investors lifted its stake in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the last quarter. Capital Research Global Investors lifted its stake in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after purchasing an additional 6,874,381 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Alphabet by 2.3% during the third quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider's stock worth $10,984,744,000 after purchasing an additional 1,034,292 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google's AI glasses and they're almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Friday, May 15th. The stock was 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 $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 226,481 shares of company stock valued at $27,422,061 in the last three months. 11.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Bank of America lifted their price target on Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. KeyCorp reaffirmed an "overweight" rating and set a $425.00 price target on shares of Alphabet in a research report on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Finally, Barclays reaffirmed an "overweight" rating and set a $405.00 price target (up from $360.00) on shares of Alphabet in a research report 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 company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $412.65.

Alphabet Trading Down 1.2%

NASDAQ GOOGL opened at $382.97 on Friday. The stock has a market capitalization of $4.64 trillion, a P/E ratio of 29.21, a P/E/G ratio of 1.66 and a beta of 1.26. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The firm has a 50-day moving average price of $337.75 and a 200 day moving average price of $321.26. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities research analysts expect that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio is currently 6.41%.

About Alphabet

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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