Fairvoy Private Wealth LLC Trims Position in Alphabet Inc. $GOOGL

Key Points

• Fairvoy Private Wealth LLC cut its Alphabet stake by 28.4% in the first quarter, selling 6,901 shares and leaving it with 17,398 shares worth about $5.0 million.
• Alphabet posted a strong quarterly beat, reporting $5.11 EPS versus $2.64 expected and revenue of $109.9 billion above estimates, while analysts still rate the stock Moderate Buy on average.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, and the stock was trading near $357.37 with a market cap of about $4.33 trillion.

Fairvoy Private Wealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,398 shares of the information services provider's stock after selling 6,901 shares during the quarter. Alphabet makes up 1.2% of Fairvoy Private Wealth LLC's portfolio, making the stock its 26th largest position. Fairvoy Private Wealth LLC's holdings in Alphabet were worth $5,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,534,239,000. Berkshire Hathaway Inc bought a new stake in shares of Alphabet in the third quarter valued at about $4,338,397,000. Cardano Risk Management B.V. raised its holdings in shares of Alphabet by 855.3% in the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock valued at $4,546,413,000 after acquiring an additional 13,004,828 shares in the last quarter. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the period. Finally, Capital World Investors lifted its stake in Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.1%

NASDAQ:GOOGL opened at $357.37 on Wednesday. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61. The stock has a market capitalization of $4.33 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.51 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company's 50-day simple moving average is $369.61 and its 200-day simple moving average is $333.53.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Rosenblatt Securities reissued a "neutral" rating and set a $393.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Dbs Bank upped their price target on shares of Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Phillip Securities increased their price objective on shares of Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a research note on Wednesday, April 15th. BNP Paribas Exane lifted their price objective on shares of Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Finally, Loop Capital lifted their price objective on shares of Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a report on Friday, May 15th. Two investment 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 presently has an average rating of "Moderate Buy" and an average price target of $413.90.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, which boosted demand for the shares and highlighted the company’s growing importance in AI and large-cap tech. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Several reports pointed to bullish Wall Street views, including a higher price target from analysts and commentary that Alphabet remains a strong long-term growth stock. Alphabet Replaces Verizon In Dow Jones As Analyst Boosts Target To $415
• Positive Sentiment: Google introduced Nano Banana 2 Lite, a faster and cheaper AI image/video generator, which may strengthen its competitive position in generative AI. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signed on to use the OpenUSD stablecoin for money movement, expanding Alphabet’s presence in digital payments and emerging commerce infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: One director disclosed a small stock sale, which is routine and not large enough to signal a major change in fundamentals. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: UK regulators are targeting Apple and Google app-store fees and payment restrictions, which could pressure Alphabet’s services revenue and app platform economics if rules are tightened. UK targets Apple, Google app store fees for developers
• Negative Sentiment: Some AI-related headlines noted talent loss to rivals and ongoing concerns about regulatory and AI-related risks, which may limit upside enthusiasm near term. Google hit by new AI brain drain as Anthropic poaches top Gemini talent

Insider Activity

In other news, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares of the company's stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the 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 sale, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,467 shares of company stock valued at $4,877,600 over the last three months. Company insiders own 11.61% of the company's stock.

About Alphabet

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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