Alphabet Inc. $GOOGL Shares Sold by Cornerstone Advisory LLC

Key Points

• Cornerstone Advisory LLC reduced its Alphabet stake by 3.1% in the fourth quarter, selling 2,253 shares and leaving it with 69,478 shares worth about $21.7 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus the $2.64 estimate and revenue of $109.9 billion, both topping analyst expectations.
• Wall Street sentiment remains upbeat, with analysts assigning Alphabet an average “Moderate Buy” rating and a mean price target of $407.86; the company also raised its quarterly dividend to $0.22 per share.

Cornerstone Advisory LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,478 shares of the information services provider's stock after selling 2,253 shares during the quarter. Alphabet makes up 2.1% of Cornerstone Advisory LLC's portfolio, making the stock its 13th biggest holding. Cornerstone Advisory LLC's holdings in Alphabet were worth $21,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Omega Financial Group LLC raised its holdings in shares of Alphabet by 1.2% in the fourth quarter. Omega Financial Group LLC now owns 2,982 shares of the information services provider's stock worth $934,000 after acquiring an additional 34 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of Alphabet by 1.2% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 81,803 shares of the information services provider's stock worth $25,604,000 after acquiring an additional 952 shares during the last quarter. Nicholson Meyer Capital Management Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $228,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $69,000. Finally, waypoint wealth counsel raised its holdings in shares of Alphabet by 9.9% in the fourth quarter. waypoint wealth counsel now owns 8,543 shares of the information services provider's stock worth $2,674,000 after acquiring an additional 769 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Tigress Financial set a $415.00 price target on Alphabet and gave the stock a "strong-buy" rating in a report on Thursday, February 19th. Moffett Nathanson increased their target price on Alphabet from $305.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Susquehanna reiterated a "positive" rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. BMO Capital Markets increased their target price on Alphabet from $410.00 to $435.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Finally, Roth Mkm reiterated a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $407.86.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $388.64 on Tuesday. The firm has a market capitalization of $4.71 trillion, a PE ratio of 29.64, a P/E/G ratio of 1.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50-day moving average of $322.04 and a two-hundred day moving average of $313.71. Alphabet Inc. has a 12 month low of $156.16 and a 12 month high of $402.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $109.90 billion during 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%. As a group, research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet's payout ratio is currently 6.41%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet briefly surpassed NVIDIA in market value, highlighting renewed investor confidence in its AI strategy and earnings strength. Alphabet Is on the Brink of Beating NVIDIA in Market Value: ETFs to Buy
• Positive Sentiment: Google said it likely thwarted an AI-generated zero-day exploit, underscoring the strength of its cybersecurity capabilities and AI threat-detection tools. Google says it likely thwarted effort by hacker group to use AI for 'mass exploitation event'
• Positive Sentiment: Alphabet is expanding Google Finance into Europe as part of its AI-focused product rollout, supporting the case for continued AI-driven innovation across its ecosystem. Google Finance Continues AI-Focused Expansion With EU Launch
• Neutral Sentiment: Alphabet is planning its first yen-denominated bond offering to help fund rising AI infrastructure spending, adding to its recent debt raises in other currencies. Alphabet considers first yen bond sale to fund AI goals
• Neutral Sentiment: Reports that short interest increased were based on zero shares reported, so they do not appear to provide meaningful directional signal for GOOGL.
• Negative Sentiment: The U.S. Commerce Department removed details from a public page about AI security testing involving Google, Microsoft, and xAI, which could raise mild regulatory transparency questions. Microsoft, Google, xAI security test details deleted from US government website

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the company's 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 sale, the director owned 3,581 shares of the company's stock, valued at $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 158,553 shares of company stock valued at $47,951,856 over the last three months. Insiders own 11.61% of the company's stock.

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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