Forum Financial Management LP reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,436 shares of the information services provider's stock after selling 45,600 shares during the period. Alphabet accounts for approximately 0.4% of Forum Financial Management LP's portfolio, making the stock its 20th largest position. Forum Financial Management LP's holdings in Alphabet were worth $27,444,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during 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 during the period. State Street Corp raised its stake in shares of Alphabet by 1.8% in 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 purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the period. Norges Bank bought a new position in Alphabet during the fourth quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE boosted its stake in shares of Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock worth $21,630,861,000 after buying an additional 3,218,852 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Investors are highlighting Alphabet as a top AI stock, with billionaire Jeffrey Talpins reportedly naming it a preferred AI idea, reinforcing confidence in the company’s long-term AI upside. Alphabet Inc. (GOOGL) Is A Top AI Stock To Buy According To Billionaire Jeffrey Talpins
- Positive Sentiment: Google Cloud is being touted as a major growth engine, with commentary suggesting it may be “driving the train” for Alphabet thanks to strong cloud momentum and a large backlog, which supports the bull case for revenue and margin expansion. Is Google Cloud Officially Driving the Train?
- Positive Sentiment: Alphabet was featured as a “final trade” on CNBC, and several bullish pieces point to continued investor interest in the stock after strong gains over the past year. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC's ‘Final Trades'
- Neutral Sentiment: Articles noting Alphabet’s strong stock performance and asking whether it is too late to buy may keep the stock in focus, but they mainly reflect momentum rather than a new fundamental catalyst. Down Over 10% From Its All-Time High, Is Now the Perfect Time to Buy Alphabet Stock?
- Negative Sentiment: Regulatory pressure remains a drag after Europe’s final €4.1 billion Android antitrust ruling, which adds to legal risk around Alphabet’s mobile and search ecosystem. Alphabet (GOOGL) Faces Final €4.1b Android Antitrust Ruling In Europe
- Negative Sentiment: Privacy-related reporting that Google is expanding AI training using user-uploaded media could raise user trust and regulatory concerns, even if it also supports AI model development. If you use Google, you're training its AI. Here's how to opt out.
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock worth $8,020,511 over the last quarter. Corporate insiders own 11.61% of the company's stock.
Analysts Set New Price Targets
GOOGL has been the topic of several recent research reports. Wall Street Zen raised Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Morgan Stanley reiterated an "overweight" rating and set a $415.00 target price (up from $375.00) on shares of Alphabet in a research report on Tuesday, June 30th. Citigroup reissued an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Mizuho boosted their price objective on Alphabet from $420.00 to $460.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $413.54.
Read Our Latest Stock Report on GOOGL
Alphabet Stock Up 1.8%
Shares of NASDAQ GOOGL opened at $366.46 on Tuesday. Alphabet Inc. has a 52-week low of $172.77 and a 52-week high of $408.61. The company's 50-day simple moving average is $371.05 and its 200-day simple moving average is $334.60. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.44 trillion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly 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. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Equities analysts predict that Alphabet Inc. will post 14.32 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is presently 6.71%.
About Alphabet
(
Free Report)
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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