First Interstate Bank Sells 2,393 Shares of Alphabet Inc. $GOOGL

Key Points

• First Interstate Bank reduced its Alphabet stake by 3.9% in the fourth quarter, selling 2,393 shares and leaving it with 59,157 shares valued at about $18.5 million.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus the $2.64 consensus estimate and revenue of $109.9 billion, above expectations.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $407.86.

First Interstate Bank cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,157 shares of the information services provider's stock after selling 2,393 shares during the period. Alphabet comprises approximately 1.0% of First Interstate Bank's portfolio, making the stock its 18th biggest holding. First Interstate Bank's holdings in Alphabet were worth $18,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. PMV Capital Advisers LLC bought a new position in Alphabet during the fourth quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Alphabet in the third quarter worth $53,000. Kentucky Trust Co raised its position in shares of Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after buying an additional 100 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Alphabet in the third quarter worth $53,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Alphabet in the third quarter worth $63,000. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the transaction, the director directly owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 955 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value 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. This represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 158,553 shares of company stock valued at $47,951,856 over the last 90 days. 11.61% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock opened at $402.62 on Thursday. The stock has a market capitalization of $4.88 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. Alphabet Inc. has a 12-month low of $159.61 and a 12-month high of $403.70. 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 stock's 50 day simple moving average is $325.48 and its 200 day simple moving average is $315.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The business 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%. As a group, research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. 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. Alphabet's payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research note on Thursday, April 30th. Pivotal Research boosted their price target on Alphabet from $400.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Barclays reaffirmed an "overweight" rating and set a $405.00 price objective (up from $360.00) on shares of Alphabet in a research report on Thursday, April 30th. Tigress Financial set a $415.00 price objective on Alphabet and gave the company a "strong-buy" rating in a research report on Thursday, February 19th. Finally, Loop Capital lifted their price objective on Alphabet from $320.00 to $355.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $407.86.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is getting multiple bullish price-target and valuation upgrades, with one report citing an 11.2% increase in target to $410.17 and another framing the stock as still attractive despite its big recent run. Alphabet (GOOGL) price target increased by 11.20% to 410.17
• Positive Sentiment: Google expanded its AI push across Android and Gemini, unveiling new agentic features, AI-native laptops, and deeper integration into search and mobile workflows ahead of I/O. Everything Google announced at its Android Show, from Googlebooks to vibe-coded widgets
• Positive Sentiment: Reports that Google and SpaceX are exploring orbital data centers add to the market’s view that Alphabet remains a leading AI infrastructure winner with long-term optionality. Report: Google and SpaceX in talks to put data centers into orbit
• Positive Sentiment: Alphabet’s Waymo business is still a positive catalyst overall as investors continue to reward the autonomous-driving unit’s growth, even though a recall creates near-term headlines. Why Alphabet stock is outperforming broader market today?
• Neutral Sentiment: Apple is reportedly backing Google’s pushback against EU AI rules, which may help Alphabet manage regulatory friction, but the outcome remains uncertain. Apple Sides With Google In Fighting EU's AI Measures
• Neutral Sentiment: Alphabet-backed Isomorphic Labs raised $2.1 billion to scale AI-driven drug discovery, which reinforces Alphabet’s AI ecosystem but is not an immediate core earnings driver. Google-backed Isomorphic raises $2.1 billion to scale AI-driven drug discovery
• Negative Sentiment: Waymo’s recall of nearly 3,800 robotaxis over a software issue is a setback for Alphabet’s autonomous vehicle unit and could invite more scrutiny from regulators. Waymo to recall nearly 3,800 robotaxis over self-driving software issue

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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