Alphabet Inc. $GOOGL Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp cut its Alphabet stake by 10.7% in the fourth quarter, selling 113,033 shares and leaving it with 944,188 shares valued at about $295.5 million.
• Alphabet reported strong quarterly earnings, posting $5.11 EPS versus analyst expectations of $2.64 and revenue of $109.9 billion, both above forecasts.
• Wall Street sentiment remains positive, with several analysts raising price targets and Alphabet recently boosting its quarterly dividend to $0.22 per share from $0.21.

Boston Trust Walden Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 944,188 shares of the information services provider's stock after selling 113,033 shares during the quarter. Alphabet comprises 2.2% of Boston Trust Walden Corp's portfolio, making the stock its 3rd largest holding. Boston Trust Walden Corp's holdings in Alphabet were worth $295,531,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new stake in Alphabet during the third quarter valued at about $416,217,000. Sovran Advisors LLC boosted its stake in shares of Alphabet by 23.6% during the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock valued at $5,401,000 after buying an additional 4,241 shares during the period. Wright Investors Service Inc. boosted its position in Alphabet by 21.2% during the third quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock valued at $12,171,000 after purchasing an additional 8,746 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Alphabet by 3.8% during the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock valued at $405,131,000 after buying an additional 60,831 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in Alphabet by 5.4% in the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock worth $17,652,000 after acquiring an additional 3,740 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the sale, the director directly owned 3,581 shares in the company, valued at $1,187,638.65. This trade represents a 22.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 955 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were 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 in the company, valued at approximately $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 158,553 shares of company stock worth $47,951,856 in the last ninety days. 11.61% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $400.69 on Friday. Alphabet Inc. has a 1 year low of $152.20 and a 1 year high of $402.00. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $318.66 and its 200-day moving average is $311.72. The firm has a market capitalization of $4.85 trillion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.67 and a beta of 1.26.

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 for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The business 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%. Sell-side analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Sanford C. Bernstein reiterated a "market perform" rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. Citizens Jmp increased their price target on shares of Alphabet from $385.00 to $515.00 and gave the company a "market outperform" rating in a report on Monday, May 4th. Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a report on Thursday, April 30th. New Street Research upped their target price on shares of Alphabet from $380.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group upped their price target on Alphabet from $400.00 to $450.00 and gave the company a "buy" rating 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 presently has an average rating of "Moderate Buy" and an average price target of $407.86.

Key Alphabet News

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

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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