Costello Asset Management INC Has $15.42 Million Position in Alphabet Inc. $GOOG

Key Points

• Costello Asset Management reduced its Alphabet stake by 6.3% in the fourth quarter, selling 3,306 shares and leaving it with 49,134 shares valued at about $15.4 million. Alphabet remains one of the firm’s top holdings, making up 5.1% of its portfolio.
• Wall Street sentiment is broadly positive, with multiple analysts reiterating or raising targets on GOOG. Alphabet currently has a consensus "Buy" rating and an average price target of $363.40.
• Alphabet reported a strong quarter, with EPS of $5.11 versus $2.68 expected and revenue of $109.9 billion, up 21.8% year over year. The company also boosted its quarterly dividend to $0.22 per share.

Costello Asset Management INC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,134 shares of the information services provider's stock after selling 3,306 shares during the quarter. Alphabet comprises 5.1% of Costello Asset Management INC's portfolio, making the stock its 6th largest holding. Costello Asset Management INC's holdings in Alphabet were worth $15,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Ring Mountain Capital LLC boosted its stake in Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock valued at $1,174,000 after purchasing an additional 30 shares in the last quarter. HRC Wealth Management LLC boosted its stake in Alphabet by 1.0% during the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock valued at $1,014,000 after purchasing an additional 31 shares in the last quarter. Avaii Wealth Management LLC boosted its stake in Alphabet by 2.3% during the 4th quarter. Avaii Wealth Management LLC now owns 1,437 shares of the information services provider's stock valued at $451,000 after purchasing an additional 32 shares in the last quarter. Accel Wealth Management boosted its stake in Alphabet by 0.8% during the 4th quarter. Accel Wealth Management now owns 4,068 shares of the information services provider's stock valued at $1,276,000 after purchasing an additional 33 shares in the last quarter. Finally, Accelerate Investment Advisors LLC boosted its stake in Alphabet by 1.1% during the 4th quarter. Accelerate Investment Advisors LLC now owns 3,166 shares of the information services provider's stock valued at $993,000 after purchasing an additional 34 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. DZ Bank raised Alphabet to a "strong-buy" rating in a research note on Monday, February 16th. Piper Sandler reaffirmed an "overweight" rating and set a $395.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Freedom Capital lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Oppenheimer increased their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average target price of $363.40.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Alphabet Stock Performance

GOOG opened at $393.32 on Monday. The firm has a market cap of $4.77 trillion, a PE ratio of 30.00, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $327.44 and a 200-day simple moving average of $317.31. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $399.93.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company's revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company posted $2.81 EPS. As a group, equities analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is 6.41%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 617 shares of the firm's stock in a transaction 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 trade represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director directly owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 157,953 shares of company stock worth $47,767,818. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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