Alphabet Inc. $GOOGL Shares Purchased by New York Life Investment Management LLC

Key Points

• New York Life Investment Management LLC increased its Alphabet stake by 4.6% in the fourth quarter, buying 37,538 shares and bringing its holdings to 860,513 shares valued at about $269.3 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $109.9 billion topping expectations. Analysts now expect full-year earnings of 14.29 per share.
• The company raised its quarterly dividend to $0.22 per share from $0.21, while Wall Street sentiment remains positive with a consensus rating of Moderate Buy and an average target price of $413.04.

New York Life Investment Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 860,513 shares of the information services provider's stock after buying an additional 37,538 shares during the quarter. Alphabet makes up about 2.3% of New York Life Investment Management LLC's portfolio, making the stock its 6th biggest position. New York Life Investment Management LLC's holdings in Alphabet were worth $269,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PMV Capital Advisers LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $38,000. Kentucky Trust Co raised its position in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after buying an additional 100 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Alphabet in the 3rd quarter valued at approximately $53,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Alphabet in the 3rd quarter valued at approximately $53,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Down 3.9%

NASDAQ:GOOGL opened at $361.85 on Wednesday. The firm has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The stock's 50 day moving average price is $347.16 and its two-hundred day moving average price is $325.75. 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 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. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is presently 6.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GOOGL shares. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the company an "outperform" rating in a research report on Thursday, April 30th. Wedbush lifted their target price on Alphabet from $360.00 to $370.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Susquehanna reissued a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. Finally, China Renaissance lifted their target price on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $413.04.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the transaction, the chief executive officer directly owned 1,642,060 shares of the company's stock, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director directly owned 2,531 shares in the company, valued at $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,016 shares of company stock worth $17,282,549 in the last three months. 11.61% of the stock is owned by insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s $10 billion investment signals strong outside confidence in Alphabet’s AI and cloud strategy. Alphabet plans to raise $80 billion for AI goals, Berkshire to invest $10 billion
• Positive Sentiment: Analysts and commentators continue to argue that Alphabet remains a high-margin cash generator with attractive long-term earnings power. Google: AI Skeptics Proven Wrong as Business Booms
• Neutral Sentiment: Coverage of Alphabet’s expanding AI coding, hardware, and device strategy highlights broader growth opportunities, but it is not the main driver of today’s move. Microsoft and Google are late to AI coding, but 'absolutely critical' they compete for growth
• Negative Sentiment: The proposed $80 billion stock sale raises dilution concerns and underscores how expensive Alphabet’s AI race has become. Exclusive: EU cloud rules to curb Amazon, Google access to strategic tenders, draft document shows
• Negative Sentiment: Reports that EU cloud rules could restrict Google’s access to strategic government tenders add a regulatory overhang for the cloud business. Alphabet to raise $80 billion in equity capital for AI spending

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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