Avalon Capital Management Sells 8,588 Shares of Alphabet Inc. $GOOGL

Key Points

• Avalon Capital Management reduced its Alphabet stake by 5.8% in the fourth quarter, selling 8,588 shares and leaving it with 138,681 shares worth about $43.4 million. Alphabet remains the fund’s largest holding, making up 10.4% of its portfolio.
• Wall Street sentiment on Alphabet remains constructive, with several analysts raising price targets and the stock carrying a Moderate Buy consensus rating and a consensus target of $413.13.
• Alphabet reported strong quarterly results, beating earnings and revenue estimates, and also raised its quarterly dividend to $0.22 per share. The stock was trading down 2.2% in the article, despite the company’s strong fundamentals and ongoing AI/cloud growth optimism.

Avalon Capital Management lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,681 shares of the information services provider's stock after selling 8,588 shares during the period. Alphabet makes up 10.4% of Avalon Capital Management's investment portfolio, making the stock its largest position. Avalon Capital Management's holdings in Alphabet were worth $43,407,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. State Street Corp lifted its stake in Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after acquiring an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after acquiring an additional 2,666,676 shares in the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter worth about $30,534,239,000. Finally, Capital World Investors lifted its stake in Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Trending Headlines about Alphabet

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Bank of America increased their target price on Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. New Street Research increased their target price on Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Wells Fargo & Company reissued an "overweight" rating and set a $435.00 target price (up from $427.00) on shares of Alphabet in a research note on Wednesday, May 20th. Guggenheim reissued a "buy" rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Piper Sandler reissued an "overweight" rating and set a $445.00 target price (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Two equities research 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $413.13.

Alphabet Trading Down 2.2%

NASDAQ:GOOGL opened at $356.38 on Thursday. The stock's 50 day moving average price is $357.80 and its 200 day moving average price is $329.64. The company has a market capitalization of $4.32 trillion, a PE ratio of 27.18, a P/E/G ratio of 1.56 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, research analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is 6.71%.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 617 shares of the firm's 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 transaction, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,016 shares of company stock worth $17,282,549 over the last ninety days. 11.61% of the stock is owned by corporate insiders.

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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