Elite Wealth Management Inc. Decreases Stake in Alphabet Inc. $GOOGL

Key Points

• Elite Wealth Management reduced its Alphabet stake by 3.0% in the fourth quarter, selling 2,929 shares and leaving it with 95,052 shares valued at about $29.75 million. Alphabet remains its third-largest position and makes up roughly 8.1% of the portfolio.
• Alphabet continues to draw strong institutional and analyst support, with major firms like Vanguard and State Street adding shares and several analysts raising price targets or reiterating buy ratings. The stock’s average analyst target now stands at $412.65, with a consensus rating of “Moderate Buy.”
• Fundamentals and AI momentum remain key positives: Alphabet beat quarterly earnings and revenue estimates, and its Google I/O AI announcements were viewed as supportive for future search, shopping, and cloud monetization. However, Waymo’s recent operational pauses and growing regulatory scrutiny add some near-term risk.

Elite Wealth Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,052 shares of the information services provider's stock after selling 2,929 shares during the quarter. Alphabet accounts for about 8.1% of Elite Wealth Management Inc.'s portfolio, making the stock its 3rd largest position. Elite Wealth Management Inc.'s holdings in Alphabet were worth $29,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. State Street Corp grew its holdings in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Capital World Investors grew its holdings in shares of Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares during the last quarter. Capital Research Global Investors grew its holdings in Alphabet by 15.7% during the 3rd quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after acquiring an additional 6,874,381 shares during the last quarter. Finally, Invesco Ltd. increased its position in Alphabet by 2.3% in the 3rd quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider's stock valued at $10,984,744,000 after acquiring an additional 1,034,292 shares during the period. 40.03% of the stock is owned by institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google I/O announcements reinforced the company’s AI monetization story, with new ad formats, shopping tools, and Gemini-based products that could lift search and commerce revenue. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Several analysts reiterated bullish or supportive views on Alphabet after I/O, including price-target increases that point to more upside if AI rollout gains traction. Analyst rating updates on Alphabet
• Positive Sentiment: Google’s broader AI push remains a tailwind for Alphabet, with articles highlighting strong cloud/AI demand and growing usage across Gemini and AI Overviews. 4 Cloud Computing Stocks Benefiting From AI-Driven Demand
• Positive Sentiment: Alphabet continues to win favorable Wall Street coverage, including multiple buy ratings and raised targets, which can help support the stock near recent highs. Alphabet's Googlebook Brings Gemini AI to PC Hardware
• Neutral Sentiment: Alphabet’s quarterly dividend increase and continued strong earnings remain supportive, but these were already known catalysts rather than a fresh surprise for traders. Alphabet stock performance and company details
• Neutral Sentiment: There was also a routine insider sale by a director, which may get attention but does not by itself change the company’s long-term outlook. SEC filing
• Neutral Sentiment: Alphabet’s new AI search experience has sparked debate about the future of web traffic and search behavior, but this is more of a strategic overhang than an immediate earnings issue. Google is going to ruin the internet
• Negative Sentiment: Waymo suspended freeway robotaxi rides and paused Atlanta operations while it fixes software problems in construction zones and flooded roads, raising short-term safety and execution concerns for Alphabet’s self-driving unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Additional reports said Waymo paused service in multiple cities after robotaxis struggled in heavy rain and construction zones, reinforcing concerns about rollout reliability. Waymo halts freeway rides after robotaxis struggle in construction zones
• Negative Sentiment: Regulatory and public-safety scrutiny is also building around Google’s platforms, including EU complaints over financial scams and UK child-safety criticism on YouTube. Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the transaction, the chief executive officer owned 1,674,560 shares in the company, valued at $508,028,012.80. The trade was a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction dated 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. Insiders have sold 226,481 shares of company stock worth $27,422,061 over the last ninety days. 11.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Raymond James Financial raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, January 22nd. Loop Capital raised their price target on shares of Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Wolfe Research dropped their price target on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating for the company in a research note on Friday, April 10th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price target (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Bank of America raised their price target on shares of Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $412.65.

Alphabet Trading Down 0.3%

NASDAQ:GOOGL opened at $387.66 on Friday. The firm's fifty day moving average is $336.26 and its 200-day moving average is $320.82. 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 $162.00 and a 52 week high of $408.61. The firm has a market cap of $4.70 trillion, a P/E ratio of 29.57, a P/E/G ratio of 1.66 and a beta of 1.26.

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

Alphabet Increases Dividend

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

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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