Armistice Capital LLC Sells 34,261 Shares of Alphabet Inc. $GOOGL

Armistice Capital LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,420 shares of the information services provider's stock after selling 34,261 shares during the quarter. Alphabet makes up about 0.7% of Armistice Capital LLC's investment portfolio, making the stock its 19th largest position. Armistice Capital LLC's holdings in Alphabet were worth $61,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphabet during the third quarter worth $416,217,000. NewEdge Wealth LLC grew its stake 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 purchasing an additional 93,293 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new stake in shares of Alphabet during the fourth quarter worth $28,902,000. Private Advisory Group LLC grew its stake 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 purchasing an additional 2,678 shares during the period. Finally, Berkshire Hathaway Inc acquired a new stake in shares of Alphabet during the third quarter worth $4,338,397,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $363.79 on Thursday. The firm has a market cap of $4.41 trillion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The stock's 50-day moving average is $364.75 and its 200-day moving average is $331.35. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Equities analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.

Insider Buying and Selling

In other news, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, the director owned 2,531 shares in the company, valued at $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,466 shares of company stock valued at $6,957,543 over the last ninety days. Insiders own 11.61% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOGL. Cantor Fitzgerald lifted their price objective on Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. HSBC reissued a "buy" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Loop Capital boosted their target price on Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Susquehanna reissued a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Phillip Securities boosted their target price on Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a research note on Wednesday, April 15th. Two research 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google Cloud is gaining momentum, with HSBC announcing a multi-year partnership to expand its AI usage on Google Cloud, and another AI startup, Ineffable Intelligence, choosing Google Cloud as its preferred infrastructure partner. These deals reinforce Alphabet’s position in enterprise AI and cloud growth. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google also unveiled a new Gemini-powered Google Home Speaker and broader Android 17/Gemini updates, highlighting continued product rollout across consumer devices and AI features that could support ecosystem engagement over time. Google bets on Gemini to reinvent the smart home speaker
• Positive Sentiment: At the G7, Google DeepMind’s Demis Hassabis joined other AI leaders in calling for a U.S.-led AI coalition, underscoring Alphabet’s influence in shaping the AI industry and keeping Google front and center in policy discussions. CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
• Neutral Sentiment: Analysts and commentary pieces remain mixed, with some still bullish on Alphabet’s AI and cloud growth while others warn that heavy capital spending, competition, and a stretched valuation could limit upside near term. Alphabet Drops 6% in a Month: Buy, Sell, or Hold the GOOGL Stock?
• Negative Sentiment: Alphabet faces fresh regulatory pressure in the U.K., where the competition watchdog set conduct requirements for Google Search to increase fairness and transparency in ranking results. That adds to worries about search monetization and long-term control over its core business. UK regulator sets out conduct requirements for Google's search services

Alphabet 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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