Fagan Associates Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,445 shares of the information services provider's stock after selling 5,825 shares during the quarter. Alphabet accounts for about 10.0% of Fagan Associates Inc.'s holdings, making the stock its biggest holding. Fagan Associates Inc.'s holdings in Alphabet were worth $75,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during the fourth 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 lifted its position in Alphabet by 1.8% during the second 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 lifted its position in Alphabet by 28.0% during the third 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 lifted its position in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock valued at $12,333,076,000 after purchasing an additional 6,874,381 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Alphabet by 2.3% during the third quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider's stock valued at $10,984,744,000 after purchasing an additional 1,034,292 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
GOOGL stock opened at $396.78 on Monday. The company has a market capitalization of $4.81 trillion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.70 and a beta of 1.26. Alphabet Inc. has a one year low of $162.00 and a one year high of $403.70. The company's 50 day moving average price is $329.30 and its two-hundred day moving average price is $317.61. 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 issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $106.98 billion. As a group, analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's payout ratio is presently 6.41%.
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total value of $9,877,400.00. Following the transaction, the chief executive officer directly owned 2,818,524 shares of the company's stock, valued at $856,605,814.08. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 955 shares of Alphabet stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at approximately $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 157,953 shares of company stock valued at $47,767,818 over the last quarter. Company insiders own 11.61% of the company's stock.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
- Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
- Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
- Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
- Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
- Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
- Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
- Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article
Wall Street Analyst Weigh In
GOOGL has been the subject of several research analyst reports. Jefferies Financial Group reiterated a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. DA Davidson lifted their target price on shares of Alphabet from $300.00 to $310.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. DZ Bank reissued a "buy" rating on shares of Alphabet in a research note on Monday, February 16th. Royal Bank Of Canada set a $425.00 price target on shares of Alphabet and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company decreased their price target on shares of Alphabet from $397.00 to $361.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $410.84.
Get Our Latest Analysis on GOOGL
About Alphabet
(
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.
Further Reading
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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