Hemenway Trust Co LLC Cuts Position in Alphabet Inc. $GOOGL

Key Points

• Hemenway Trust Co LLC trimmed its Alphabet stake by 5.2% in the fourth quarter, selling 14,965 shares and leaving it with 275,095 shares worth about $86.1 million. Alphabet remains the firm’s largest holding, accounting for 6.6% of its portfolio.
• Alphabet’s latest quarter beat expectations, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion topping estimates. The company also continues to benefit from AI momentum, including stronger Google Cloud growth and new AI-driven search and ad initiatives.
• Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $412.65. Alphabet also raised its quarterly dividend to $0.22 per share, while the stock was down 1.2% in recent trading.

Hemenway Trust Co LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 275,095 shares of the information services provider's stock after selling 14,965 shares during the period. Alphabet makes up 6.6% of Hemenway Trust Co LLC's investment portfolio, making the stock its largest holding. Hemenway Trust Co LLC's holdings in Alphabet were worth $86,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of GOOGL. Berkshire Hathaway Inc bought a new stake in Alphabet during the third quarter worth about $4,338,397,000. Vanguard Group Inc. boosted its stake 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 worth $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. Capital World Investors boosted its stake in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares in the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after acquiring an additional 6,874,381 shares in the last quarter. Finally, Mizuho Markets Cayman LP boosted its stake in Alphabet by 23,402.1% during the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock worth $1,487,419,000 after acquiring an additional 6,092,513 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google's AI glasses and they're almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Alphabet Stock Down 1.2%

GOOGL opened at $382.97 on Friday. 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 50 day moving average price of $337.75 and a 200-day moving average price of $321.26. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The stock has a market capitalization of $4.64 trillion, a price-to-earnings ratio of 29.21, a PEG ratio of 1.64 and a beta of 1.26.

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 for the quarter, beating 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 firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Equities research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOGL shares. President Capital boosted their price objective on shares of Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. DZ Bank reissued a "buy" rating on shares of Alphabet in a research note on Monday, February 16th. HSBC boosted their price objective on shares of Alphabet from $385.00 to $435.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. DA Davidson boosted their price objective on shares of Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $412.65.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares in the company, valued at approximately $6,908,391. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider owned 51,808 shares of the company's stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,481 shares of company stock valued at $27,422,061 in the last three months. Corporate insiders own 11.61% of the company's stock.

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.

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.