Alphabet Inc. $GOOGL Stake Reduced by North Point Portfolio Managers Corp OH

Key Points

• North Point Portfolio Managers Corp OH trimmed its Alphabet stake by 2.0% in the first quarter, selling 1,571 shares and ending with 78,240 shares worth about $22.5 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus the $2.64 consensus and revenue of $109.90 billion versus expectations of $106.98 billion.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $413.54, while Alphabet also recently raised its quarterly dividend to $0.22 per share.

North Point Portfolio Managers Corp OH lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,240 shares of the information services provider's stock after selling 1,571 shares during the period. Alphabet makes up 4.0% of North Point Portfolio Managers Corp OH's investment portfolio, making the stock its 4th largest position. North Point Portfolio Managers Corp OH's holdings in Alphabet were worth $22,499,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Key Financial Inc increased its position in shares of Alphabet by 2.7% during the 1st quarter. Key Financial Inc now owns 17,366 shares of the information services provider's stock worth $4,994,000 after purchasing an additional 459 shares during the last quarter. Equita Financial Network Inc. lifted its position in Alphabet by 49.4% in the first quarter. Equita Financial Network Inc. now owns 1,867 shares of the information services provider's stock valued at $537,000 after buying an additional 617 shares during the last quarter. Impact Partnership Wealth LLC boosted its stake in Alphabet by 24.4% during the first quarter. Impact Partnership Wealth LLC now owns 11,005 shares of the information services provider's stock worth $3,164,000 after buying an additional 2,156 shares during the period. Ellenbecker Investment Group increased its position in shares of Alphabet by 6.1% during the first quarter. Ellenbecker Investment Group now owns 3,433 shares of the information services provider's stock valued at $987,000 after acquiring an additional 196 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC lifted its holdings in shares of Alphabet by 2.6% in the 1st quarter. Kohmann Bosshard Financial Services LLC now owns 7,457 shares of the information services provider's stock worth $2,144,000 after acquiring an additional 187 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL stock opened at $361.92 on Thursday. 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 company has a market capitalization of $4.39 trillion, a P/E ratio of 27.61, a PEG ratio of 1.57 and a beta of 1.24. The business has a 50 day simple moving average of $372.28 and a 200-day simple moving average of $335.93. Alphabet Inc. has a twelve month low of $172.77 and a twelve month high of $408.61.

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 (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was 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 dividend yield of 0.2%. Alphabet's payout ratio is presently 6.71%.

Insiders Place Their Bets

In other news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 160,465 shares of company stock valued at $8,020,511. Corporate insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Evercore upped their price target on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a research note on Wednesday, June 3rd. Arete Research increased their price objective on Alphabet from $405.00 to $425.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Finally, President Capital boosted their price target on shares of Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $413.54.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo plans to expand driverless rides to four more major cities this year, with a phased rollout that could broaden Alphabet’s autonomous vehicle opportunity and reinforce its leadership in robotaxis. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Alphabet continues to be highlighted as a beneficiary of massive AI infrastructure spending, with analysts pointing to strong demand for cloud expansion, data centers, and AI hardware. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Alphabet was cited as an indirect way to gain exposure to Anthropic ahead of a possible IPO, since the company already holds a major private stake in the AI startup. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There (GOOGL)
• Positive Sentiment: Berkshire Hathaway reportedly added a $10 billion private placement investment in Alphabet, a sign of institutional confidence that could support sentiment in the stock. Warren Buffett's Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Cognizant deepened its Google Cloud partnership to accelerate enterprise AI adoption, which underscores Alphabet’s cloud relevance but is not a direct financial catalyst by itself. Cognizant Strengthens AI Portfolio Through Google Cloud Partnership
• Neutral Sentiment: Google’s upcoming Pixel launch event on August 12 keeps hardware in view, but this is more of a product-calendar reminder than an immediate stock-moving catalyst. Google's Pixel event is set for August 12
• Negative Sentiment: Google updated the Chrome Web Store to ban prediction market transactions, a policy move that may be seen as restrictive and could attract backlash from affected users and developers. Google Bans Prediction Market Transactions Amid Backlash
• Negative Sentiment: One article noted Alphabet shares were already slipping versus the broader market, adding to the intraday weakness as traders weigh valuation and AI competition concerns. Alphabet Inc. (GOOG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

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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