Deltec Asset Management LLC Lowers Stock Position in Alphabet Inc. $GOOGL

Key Points

• Deltec Asset Management slightly reduced its Alphabet stake by 0.9% in the first quarter, but Alphabet remains its largest holding at 9.0% of assets, worth about $49.3 million.
• Alphabet reported a strong quarterly beat, posting $5.11 EPS versus $2.64 expected on $109.9 billion in revenue, and it also raised its quarterly dividend to $0.22 per share from $0.21.
• Analysts remain broadly positive on GOOGL, with a Moderate Buy consensus and a target price of $413.54, while recent price-target increases from several firms reflect continued optimism about Alphabet’s AI and cloud prospects.

Deltec Asset Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,401 shares of the information services provider's stock after selling 1,542 shares during the quarter. Alphabet makes up 9.0% of Deltec Asset Management LLC's holdings, making the stock its biggest position. Deltec Asset Management LLC's holdings in Alphabet were worth $49,288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of GOOGL. Brighton Jones LLC increased its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its holdings in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after acquiring an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank lifted its holdings in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after purchasing an additional 3,120 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $358.89 on Friday. Alphabet Inc. has a 52 week low of $174.38 and a 52 week high of $408.61. The business has a 50-day simple moving average of $372.47 and a 200 day simple moving average of $336.30. 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 stock has a market cap of $4.35 trillion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.55 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (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 firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, research analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's dividend payout ratio (DPR) is presently 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
• Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
• Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
• Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
• Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
• Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
• Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
• Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. Cantor Fitzgerald lifted their target price on shares of Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Needham & Company LLC reissued a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Citizens Jmp restated a "market outperform" rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. BNP Paribas Exane boosted their price objective on Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Finally, Freedom Capital cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Two investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $413.54.

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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