Alphabet Inc. $GOOGL Shares Sold by Wellington Shields & Co. LLC

Key Points

• Wellington Shields & Co. LLC reduced its Alphabet stake by 10.2% in the fourth quarter, selling 1,879 shares and leaving it with 16,540 shares worth about $5.18 million.
• Alphabet’s latest earnings beat expectations, reporting $5.11 EPS versus $2.64 estimated and revenue of $109.9 billion versus $106.98 billion expected.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $413.13.

Wellington Shields & Co. LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,540 shares of the information services provider's stock after selling 1,879 shares during the quarter. Alphabet comprises about 1.3% of Wellington Shields & Co. LLC's holdings, making the stock its 12th largest holding. Wellington Shields & Co. LLC's holdings in Alphabet were worth $5,177,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. CIBC Bancorp USA Inc. purchased a new position in shares of Alphabet during the third quarter worth $416,217,000. NewEdge Wealth LLC boosted its position in shares of Alphabet by 11.8% during the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after buying an additional 93,293 shares during the period. Sovran Advisors LLC boosted its position in shares of Alphabet by 23.6% during the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock worth $5,401,000 after buying an additional 4,241 shares during the period. Belpointe Asset Management LLC boosted its position in shares of Alphabet by 5.4% during the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock worth $17,652,000 after buying an additional 3,740 shares during the period. Finally, Private Advisory Group LLC boosted its position in shares of Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider's stock worth $7,736,000 after buying an additional 2,678 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director directly owned 18,721 shares in the company, valued at $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director owned 2,531 shares in the company, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 193,016 shares of company stock valued at $17,282,549. 11.61% of the stock is owned by company insiders.

Alphabet Stock Down 1.4%

Shares of NASDAQ GOOGL opened at $363.31 on Tuesday. The stock has a market cap of $4.40 trillion, a P/E ratio of 27.71, a PEG ratio of 1.58 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The business's fifty day simple moving average is $354.35 and its 200-day simple moving average is $328.67.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 38.99% and a net margin of 37.92%. As a group, equities analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Guggenheim restated a "buy" rating and set a $450.00 price target (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Robert W. Baird raised their price target on Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Cantor Fitzgerald raised their price target on Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. The Goldman Sachs Group raised their price target on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Evercore raised their price target on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a research report 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s long-term AI opportunity remains a major bullish theme, with analysts arguing the company’s heavy investment could support future revenue growth and strengthen its competitive position in search, cloud, and AI. Alphabet: CapEx Pressure Is Real, But The Long-Term AI Opportunity Is Bigger
• Positive Sentiment: Alphabet continues to benefit from broader AI enthusiasm, including reports that Apple is turning to Google for help with its AI overhaul and that Google’s cloud and AI capabilities are being tied to major customer wins and partnerships. Apple tries again on AI, turns to Google for help
• Positive Sentiment: Waymo remains a strategic asset for Alphabet, with new robotaxi-related developments highlighting the unit’s leadership in autonomous driving and potential to unlock long-term value. Uber, Wayve and Waymo are headed towards a robotaxi showdown in London
• Neutral Sentiment: Alphabet is drawing investor attention after its latest earnings results showed strong quarterly performance, including earnings and revenue that beat expectations, which helps support the stock’s long-term valuation. Alphabet Inc. (GOOGL) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Alphabet’s dividend and other capital-return details are also getting attention, but these are unlikely to be the main driver of the stock’s move today. Google to pay dividends next week; Here's how much 100 GOOGL shares will earn
• Negative Sentiment: Shares are sliding because investors appear worried that Alphabet’s expanding AI spending could pressure margins and require more capital than expected before those investments pay off. What's Going On With Alphabet Stock?
• Negative Sentiment: Recent market-wide volatility has also weighed on megacap tech stocks, adding to the weakness in Alphabet despite the company’s long-term AI story. Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade

About Alphabet

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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