Alphabet Inc. $GOOGL Stock Position Increased by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management increased its Alphabet stake by 9.2% in the fourth quarter, buying 26,220 additional shares and bringing its total holdings to 312,276 shares worth about $97.7 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates by a wide margin and revenue of $109.9 billion coming in above analyst expectations.
• 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.

Harvest Fund Management Co. Ltd grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,276 shares of the information services provider's stock after acquiring an additional 26,220 shares during the quarter. Alphabet comprises about 3.6% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 5th biggest holding. Harvest Fund Management Co. Ltd's holdings in Alphabet were worth $97,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the fourth 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 during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the fourth 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 during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Alphabet by 17.6% in the second 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 during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Alphabet by 11.2% in the second 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 during the last quarter. Finally, United Bank boosted its holdings in Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 2.2%

Alphabet stock opened at $356.38 on Thursday. The firm has a 50 day moving average of $357.80 and a 200 day moving average of $329.64. The firm has a market capitalization of $4.32 trillion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.56 and a beta of 1.23. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. 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 released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates 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 predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a $0.22 dividend. 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 a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 193,016 shares of company stock worth $17,282,549 in the last ninety days. Corporate insiders own 11.61% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts turned more optimistic on Alphabet’s 2027 outlook, citing strong AI and Google Cloud growth potential. Veteran Analyst Firm Resets Alphabet Forecast for 2027
• Positive Sentiment: Google introduced new Gemini features for small businesses, which could help drive AI adoption and future subscription revenue. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Coverage highlighted Alphabet as a strong long-term growth story, supported by Search, Cloud, and AI. Why Alphabet (GOOGL) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Google Cloud disruption in India from a third-party facility fire appears temporary, but it underscores operational and infrastructure risk. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Alphabet’s bid for a new trial in the youth social media addiction case, keeping litigation risk alive for YouTube. Market Chatter: Google, Meta Platforms Denied New Trial in Youth Social Media Addiction Case by California Judge
• Negative Sentiment: Reports of Gemini/Google Workspace AI errors and downtime may weigh on sentiment around product reliability. Gemini Is Down? Live Updates on Google Workspace's AI Errors

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Barclays reiterated a "buy" rating on shares of Alphabet in a research note on Friday, May 29th. Citizens Jmp reiterated a "market outperform" rating and issued a $515.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Evercore increased their price objective on shares of Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Guggenheim reiterated a "buy" rating and issued a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Truist Financial set a $430.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $413.13.

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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