Alphabet Inc. $GOOGL Shares Sold by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System trimmed its Alphabet stake by 3.8% in the fourth quarter, selling 76,700 shares. The fund still holds 1,925,280 shares, making Alphabet its 6th largest position.
• Wall Street remains broadly bullish on GOOGL, with multiple analysts reiterating buy/overweight ratings and raising price targets. The consensus rating is Moderate Buy, with an average target price of $410.84.
• Alphabet reported strong quarterly results, beating EPS and revenue estimates, and it also increased its quarterly dividend to $0.22 per share. The stock was trading down 1.1% on the day at $396.78 despite the upbeat fundamentals.

State of Michigan Retirement System lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,925,280 shares of the information services provider's stock after selling 76,700 shares during the quarter. Alphabet comprises approximately 2.9% of State of Michigan Retirement System's holdings, making the stock its 6th largest position. State of Michigan Retirement System's holdings in Alphabet were worth $602,613,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Berkshire Hathaway Inc acquired a new position in Alphabet during the 3rd quarter worth $4,338,397,000. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after buying an additional 12,531,695 shares during the period. Capital World Investors lifted its holdings in shares of Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after buying an additional 11,605,785 shares during the period. Capital Research Global Investors lifted its holdings in shares of Alphabet by 15.7% in the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock valued at $12,333,076,000 after buying an additional 6,874,381 shares during the period. Finally, Mizuho Markets Cayman LP lifted its holdings in shares of Alphabet by 23,402.1% in the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock valued at $1,487,419,000 after buying an additional 6,092,513 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a report on Tuesday, April 28th. Piper Sandler restated an "overweight" rating and issued a $425.00 price objective (up from $395.00) on shares of Alphabet in a report on Thursday, April 30th. HSBC upped their price objective on Alphabet from $385.00 to $435.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wells Fargo & Company cut their price objective on Alphabet from $397.00 to $361.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Finally, KeyCorp set a $425.00 price objective on Alphabet and gave the company an "overweight" rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $410.84.

Insider Activity

In related news, insider John Kent Walker sold 47,574 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares of the company's stock, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 955 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at $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 sold 157,953 shares of company stock valued at $47,767,818 in the last ninety days. Corporate insiders own 11.61% of the company's stock.

Alphabet Trading Down 1.1%

NASDAQ GOOGL opened at $396.78 on Friday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $403.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $4.81 trillion, a price-to-earnings ratio of 30.27, a PEG ratio of 1.72 and a beta of 1.26. The firm's 50 day moving average price is $329.30 and its two-hundred day moving average price is $317.27.

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

Alphabet Increases Dividend

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

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
• Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
• Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
• Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
• Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
• Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
• Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
• Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article

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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