Fisher Funds Management LTD Sells 14,741 Shares of Alphabet Inc. $GOOG

Key Points

• Fisher Funds Management reduced its Alphabet stake by 18.4% in the first quarter, selling 14,741 shares and leaving it with 65,328 shares worth about $18.7 million.
• Alphabet continues to draw positive attention from Wall Street and strategic developments, including its planned addition to the Dow Jones Industrial Average and ongoing enthusiasm around AI infrastructure demand and Google Cloud growth.
• The company recently posted strong quarterly results, with EPS of $5.11 beating estimates and revenue rising 21.8% year over year to $109.9 billion, while it also raised its quarterly dividend to $0.22 per share.

Fisher Funds Management LTD lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 18.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,328 shares of the information services provider's stock after selling 14,741 shares during the period. Fisher Funds Management LTD's holdings in Alphabet were worth $18,743,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GOOG. Kathmere Capital Management LLC raised its position in Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after purchasing an additional 2,341 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of Alphabet by 0.9% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock worth $53,920,000 after buying an additional 2,009 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in shares of Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after buying an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock worth $19,060,000 after buying an additional 4,239 shares in the last quarter. Finally, World Investment Advisors increased its stake in shares of Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock valued at $59,827,000 after buying an additional 15,280 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, a move that should boost its visibility and could support index-fund demand. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average
• Positive Sentiment: Analysts continued to point to Alphabet’s strong AI infrastructure demand and Google Cloud growth as reasons for long-term upside. Alphabet Rides on Accelerating AI Infrastructure Demand: What's Ahead?
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with film studio A24, underscoring continued experimentation with new AI use cases. Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investor sentiment weakened after reports that another top AI scientist, John Jumper, left DeepMind for Anthropic, adding to fears of an AI brain drain. Google's YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Broader market coverage highlighted worries about Alphabet’s heavy AI capital spending and the dilution risk tied to its large equity raise, which has pressured the stock. Alphabet Slides as AI Funding Plan Fuels Dilution Worries

Alphabet Trading Down 0.6%

Shares of NASDAQ:GOOG opened at $346.55 on Wednesday. The company has a market capitalization of $4.20 trillion, a PE ratio of 26.43, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $166.91 and a 12-month high of $404.47. The business's fifty day simple moving average is $365.57 and its 200-day simple moving average is $331.59.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same period in the prior year, the business posted $2.81 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced 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 a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company's stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 160,516 shares of company stock valued at $7,344,604. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Citigroup restated a "market outperform" rating on shares of Alphabet in a report on Monday. Oppenheimer increased their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. KeyCorp reissued an "overweight" rating on shares of Alphabet in a research report on Wednesday, May 20th. TD Cowen boosted their price target on shares of Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $435.00 price target on shares of Alphabet in a research report on Tuesday, June 2nd. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $376.78.

Alphabet Profile

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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