Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $23.38 Million Position in Alphabet Inc. $GOOG

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new Alphabet position in the fourth quarter, buying 74,513 shares worth about $23.38 million. Alphabet now represents roughly 0.8% of the firm’s portfolio.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $109.9 billion, up 21.8% year over year. The company also posted high profitability, including a 38.99% return on equity.
• The company increased its quarterly dividend to $0.22 per share from $0.21, though the yield remains low at about 0.2%. Meanwhile, analyst sentiment is broadly positive, with a consensus rating of Buy and an average price target of $376.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 74,513 shares of the information services provider's stock, valued at approximately $23,382,000. Alphabet makes up approximately 0.8% of Fideuram Intesa Sanpaolo Private Banking S.P.A.'s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock worth $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. Danske Bank A S acquired a new position in Alphabet during the 3rd quarter worth approximately $678,198,000. PFA Pension Forsikringsaktieselskab acquired a new position in Alphabet during the 4th quarter worth approximately $869,781,000. Finally, Holocene Advisors LP acquired a new position in Alphabet during the 2nd quarter worth approximately $455,745,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 2,531 shares of the company's stock, valued at $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,016 shares of company stock worth $17,282,549 over the last ninety days. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

GOOG stock opened at $358.39 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The stock's 50 day moving average is $344.61 and its two-hundred day moving average is $325.11. The company has a market capitalization of $4.34 trillion, a PE ratio of 27.34, a P/E/G ratio of 1.60 and a beta of 1.22.

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

Alphabet Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Freedom Capital lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Truist Financial set a $430.00 price target on Alphabet in a research report on Monday. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research report on Monday. Finally, UBS Group reissued a "neutral" rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $376.00.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s $10 billion commitment to Alphabet supports the company’s AI strategy and signals strong long-term investor confidence. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
• Positive Sentiment: Some analysts say Google remains a key beneficiary of AI search growth, suggesting its core search and ad business may hold up better than feared. Google Is the Clear Beneficiary,’ Says Top Analyst as AI Search Takes Off
• Neutral Sentiment: Alphabet’s stakes in private AI-related companies such as Anthropic and exposure to future IPO optionality may add long-term upside, but this is not a near-term catalyst. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs
• Negative Sentiment: The $80 billion stock sale raised concerns about dilution and the rising cost of Alphabet’s AI expansion, which is pressuring sentiment in the stock. Alphabet plans to raise $80 billion to pay for AI buildout
• Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, which could limit Google’s access to certain government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders

About Alphabet

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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