Global Endowment Management LP Has $31.31 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Global Endowment Management LP trimmed its Alphabet stake by 1.9% in Q4, but still held 100,042 shares worth about $31.31 million. Alphabet remained the fund’s 6th-largest position and made up 3.9% of its portfolio.
• Alphabet continues to attract mixed but generally positive analyst support, with the consensus rating at “Moderate Buy” and an average price target of $413.13. Recent firms including Cantor Fitzgerald and Phillip Securities raised their price targets.
• The company also posted strong recent results, beating earnings and revenue expectations, and it recently raised its quarterly dividend to $0.22 per share. Alphabet’s new payout implies an annualized dividend of $0.88 per share.

Global Endowment Management LP decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,042 shares of the information services provider's stock after selling 1,917 shares during the period. Alphabet comprises about 3.9% of Global Endowment Management LP's holdings, making the stock its 6th largest holding. Global Endowment Management LP's holdings in Alphabet were worth $31,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphabet during the third quarter worth $416,217,000. NewEdge Wealth LLC increased its position in shares of Alphabet by 11.8% during the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after buying an additional 93,293 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new stake in shares of Alphabet during the fourth quarter worth $28,902,000. Private Advisory Group LLC increased its position in shares of Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider's stock worth $7,736,000 after buying an additional 2,678 shares during the period. Finally, Berkshire Hathaway Inc acquired a new stake in shares of Alphabet during the third quarter worth $4,338,397,000. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 617 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's 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. The disclosure for this sale is available in the SEC filing. Insiders sold 191,966 shares of company stock valued at $16,963,968 in the last quarter. 11.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Cantor Fitzgerald increased their price objective on shares of Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Phillip Securities increased their price objective on shares of Alphabet from $340.00 to $395.00 and gave the stock a "moderate buy" rating in a research report on Wednesday, April 15th. UBS Group reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, May 20th. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $393.00 price target on shares of Alphabet in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet's Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic's Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $359.68 on Monday. The stock has a market capitalization of $4.36 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.54 and a beta of 1.23. The company has a 50-day moving average price of $360.45 and a 200-day moving average price of $330.34. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. On average, equities research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors 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 yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.