Bourne Lent Asset Management Inc. Sells 1,515 Shares of Alphabet Inc. $GOOGL

Key Points

• Bourne Lent Asset Management trimmed its Alphabet stake by 1.5% in the first quarter, selling 1,515 shares and ending with 97,435 shares valued at about $28.0 million.
• Wall Street remains largely bullish on GOOGL, with multiple firms raising price targets and the stock carrying a consensus Moderate Buy rating and average target price of $413.13.
• Alphabet beat quarterly expectations with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion, while also increasing its quarterly dividend to $0.22 per share.

Bourne Lent Asset Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,435 shares of the information services provider's stock after selling 1,515 shares during the quarter. Alphabet comprises approximately 10.3% of Bourne Lent Asset Management Inc.'s holdings, making the stock its 3rd largest position. Bourne Lent Asset Management Inc.'s holdings in Alphabet were worth $28,019,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cache Advisors LLC lifted its holdings in shares of Alphabet by 16.9% during the first quarter. Cache Advisors LLC now owns 58,665 shares of the information services provider's stock worth $16,870,000 after buying an additional 8,462 shares during the last quarter. Richards Merrill & Peterson Inc. increased its position in Alphabet by 7.1% during the first quarter. Richards Merrill & Peterson Inc. now owns 22,567 shares of the information services provider's stock worth $6,489,000 after acquiring an additional 1,501 shares during the period. New Covenant Trust Company N.A. raised its stake in Alphabet by 16.0% during the 1st quarter. New Covenant Trust Company N.A. now owns 4,878 shares of the information services provider's stock valued at $1,403,000 after purchasing an additional 672 shares during the last quarter. Amarillo National Bank boosted its holdings in Alphabet by 3.2% in the 1st quarter. Amarillo National Bank now owns 19,886 shares of the information services provider's stock valued at $5,718,000 after purchasing an additional 623 shares during the period. Finally, Presilium Private Wealth LLC grew its position in Alphabet by 3.4% in the 1st quarter. Presilium Private Wealth LLC now owns 2,898 shares of the information services provider's stock worth $833,000 after purchasing an additional 94 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. Royal Bank Of Canada set a $425.00 price objective on shares of Alphabet and gave the stock an "outperform" rating in a report on Thursday, April 30th. BNP Paribas Exane lifted their target price on Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Dbs Bank boosted their price target on Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Wall Street Zen upgraded Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $413.13.

Alphabet Price Performance

Shares of Alphabet stock opened at $337.39 on Monday. The firm has a market cap of $4.09 trillion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The firm's 50-day simple moving average is $368.94 and its 200-day simple moving average is $333.02. Alphabet Inc. has a twelve month low of $171.73 and a twelve month high of $408.61. 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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 firm 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 expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced 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 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here's Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 151,523 shares of company stock valued at $4,863,526. 11.61% of the stock is currently 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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