Alphabet Inc. $GOOGL Stock Holdings Boosted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its Alphabet stake by 0.9% in the fourth quarter, buying 20,700 more shares and bringing its total holding to 2,381,160 shares worth about $745.3 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 topping estimates by $2.47 and revenue of $109.9 billion beating expectations. Analysts now see the company earning 14.29 EPS for the current year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain generally bullish with a consensus price target of $407.86 and a "Moderate Buy" rating.

KLP Kapitalforvaltning AS raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,381,160 shares of the information services provider's stock after purchasing an additional 20,700 shares during the period. Alphabet accounts for about 2.9% of KLP Kapitalforvaltning AS's holdings, making the stock its 5th biggest position. KLP Kapitalforvaltning AS's holdings in Alphabet were worth $745,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Symmetry Partners LLC increased its stake in Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after purchasing an additional 30 shares during the last quarter. Members Trust Co increased its stake in Alphabet by 0.5% in the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock valued at $2,014,000 after purchasing an additional 31 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock valued at $2,489,000 after purchasing an additional 31 shares during the last quarter. Lifelong Wealth Advisors Inc. increased its stake in Alphabet by 1.9% in the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider's stock valued at $541,000 after purchasing an additional 33 shares during the last quarter. Finally, White Wing Wealth Management increased its stake in Alphabet by 2.9% in the fourth quarter. White Wing Wealth Management now owns 1,155 shares of the information services provider's stock valued at $362,000 after purchasing an additional 33 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 $400.69 on Friday. The company has a market capitalization of $4.85 trillion, a P/E ratio of 30.56, a PEG ratio of 1.67 and a beta of 1.26. Alphabet Inc. has a twelve month low of $152.20 and a twelve month high of $402.00. The business has a 50 day simple moving average of $318.66 and a 200-day simple moving average of $311.72. 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 (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 for the quarter, topping 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 during the quarter, compared to the consensus estimate of $106.98 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The business 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. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio is 6.41%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the sale, the chief executive officer directly owned 1,642,060 shares of the company's stock, valued at $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on 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 directly owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 158,553 shares of company stock valued at $47,951,856. 11.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on GOOGL. Wedbush increased their price target on shares of Alphabet from $360.00 to $370.00 and gave the company an "outperform" rating in a research note on Thursday, February 5th. Arete Research increased their price target on shares of Alphabet from $380.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. UBS Group set a $410.00 price objective on Alphabet and gave the company a "neutral" rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the company a "buy" 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 data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $407.86.

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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