Alphabet Inc. $GOOGL Shares Sold by Hyperion Capital Advisors LP

Key Points

• Hyperion Capital Advisors LP cut its Alphabet stake by 18.5% in the fourth quarter, selling 12,880 shares and leaving it with 56,560 shares worth about $17.7 million. Alphabet remains the fund’s third-largest holding, at 8.7% of its portfolio.
• Alphabet reported strong quarterly earnings, posting $5.11 EPS versus the $2.64 consensus estimate and revenue of $109.9 billion, above expectations. Analysts now expect the company to earn 14.3 EPS for the current fiscal year.
• The company raised its quarterly dividend to $0.22 per share from $0.21, payable June 15, and Wall Street remains broadly positive with a consensus rating of “Moderate Buy” and a target price of $413.13.

Hyperion Capital Advisors LP trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,560 shares of the information services provider's stock after selling 12,880 shares during the quarter. Alphabet accounts for about 8.7% of Hyperion Capital Advisors LP's portfolio, making the stock its 3rd biggest holding. Hyperion Capital Advisors LP's holdings in Alphabet were worth $17,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its stake in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank lifted its stake in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after acquiring an additional 3,120 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $359.68 on Friday. The stock has a market cap of $4.36 trillion, a P/E ratio of 27.44, a PEG ratio of 1.53 and a beta of 1.23. The company's 50-day simple moving average is $360.45 and its 200 day simple moving average is $330.26. Alphabet Inc. has a twelve month low of $162.00 and a twelve month 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.71%.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,016 shares of company stock worth $17,282,549 over the last ninety days. Corporate insiders own 11.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Citigroup reissued an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. China Renaissance increased their price objective on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Needham & Company LLC restated a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. restated a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Finally, Evercore boosted their target price on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Two 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. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet's Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic's Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

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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