Fiduciary Alliance LLC Has $22.04 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Fiduciary Alliance LLC trimmed its Alphabet position by 5.8% in the first quarter, but still held 76,653 shares valued at about $22.0 million. Alphabet remained its 10th-largest holding.
• Wall Street sentiment on Alphabet stays bullish: several analysts recently raised price targets, and the stock now carries a Moderate Buy consensus with an average target of $413.90.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus expectations of $2.64 and revenue of $109.9 billion beating estimates. The company also raised its quarterly dividend to $0.22 per share from $0.21.

Fiduciary Alliance LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,653 shares of the information services provider's stock after selling 4,749 shares during the period. Alphabet comprises approximately 1.4% of Fiduciary Alliance LLC's holdings, making the stock its 10th biggest holding. Fiduciary Alliance LLC's holdings in Alphabet were worth $22,042,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 valued at $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. State Street Corp increased its holdings in shares of Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after buying an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after buying an additional 2,666,676 shares in the last quarter. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE raised its stake in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after acquiring an additional 3,218,852 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GOOGL shares. BMO Capital Markets increased their price target on Alphabet from $410.00 to $435.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Evercore lifted their price objective on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. President Capital boosted their price objective on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $413.90.

Insider Activity

In related news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares of the company's stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 151,467 shares of company stock worth $4,877,600 over the last quarter. 11.61% of the stock is owned by insiders.

Alphabet Trading Up 1.1%

NASDAQ GOOGL opened at $357.37 on Wednesday. Alphabet Inc. has a 12 month low of $172.77 and a 12 month high of $408.61. The stock has a 50-day simple moving average of $369.61 and a 200 day simple moving average of $333.53. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.33 trillion, a PE ratio of 27.26, a P/E/G ratio of 1.51 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results 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 analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.71%.

Key Headlines Impacting 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

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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