Bosman Wealth Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,965 shares of the information services provider's stock after selling 3,214 shares during the period. Alphabet accounts for about 7.7% of Bosman Wealth Management LLC's holdings, making the stock its 2nd biggest position. Bosman Wealth Management LLC's holdings in Alphabet were worth $9,379,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. PMV Capital Advisers LLC purchased a new stake in Alphabet in the fourth quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Alphabet during the 3rd quarter valued at $53,000. iSAM Funds UK Ltd bought a new position in shares of Alphabet during the 3rd quarter worth $53,000. Kentucky Trust Co grew its stake in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after acquiring an additional 100 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new stake in Alphabet in the 3rd quarter worth about $63,000. 40.03% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of research reports. Royal Bank Of Canada set a $425.00 price objective on Alphabet and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Alphabet in a research report on Monday. CICC Research lifted their target price on shares of Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a research note on Friday. Needham & Company LLC boosted their price target on shares of Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, China Renaissance upped their price target on shares of Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $402.96.
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More Alphabet News
Here are the key news stories impacting Alphabet this week:
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 955 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the sale, the chief accounting officer owned 9,918 shares in the company, valued at $2,955,564. The trade was a 8.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total value of $9,877,400.00. Following the completion of the sale, the chief executive officer directly owned 2,818,524 shares of the company's stock, valued at approximately $856,605,814.08. This represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 191,053 shares of company stock valued at $58,845,206. 11.61% of the stock is currently owned by corporate insiders.
Alphabet Stock Down 0.6%
Shares of NASDAQ:GOOGL opened at $383.25 on Tuesday. The firm has a market capitalization of $4.64 trillion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 52-week low of $147.84 and a 52-week high of $387.38. The firm has a fifty day moving average of $313.72 and a 200 day moving average of $308.70.
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 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 business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. As a group, research analysts anticipate that Alphabet Inc. will post 12.94 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.41%.
Alphabet Company Profile
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Free Report)
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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