IMC Chicago LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 94.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,180 shares of the information services provider's stock after selling 142,740 shares during the period. IMC Chicago LLC's holdings in Alphabet were worth $2,347,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kathmere Capital Management LLC raised its holdings in Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after buying an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its holdings in Alphabet by 1.0% in 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. lifted its stake in shares of Alphabet by 7.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock worth $19,060,000 after acquiring an additional 4,239 shares in the last quarter. World Investment Advisors boosted its stake in shares of Alphabet by 8.7% during the 4th 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 last quarter. Finally, Violich Capital Management Inc. boosted its stake in Alphabet by 1.0% during the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock valued at $106,936,000 after acquiring an additional 3,378 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company's stock, valued at $545,941.03. This represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 159,415 shares of company stock valued at $7,672,279. Corporate insiders own 12.99% of the company's stock.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
- Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
- Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.
Alphabet Trading Down 2.2%
Alphabet stock opened at $346.12 on Friday. Alphabet Inc. has a 52 week low of $184.73 and a 52 week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $4.19 trillion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 1.45 and a beta of 1.23. The company has a 50 day moving average price of $366.29 and a 200 day moving average price of $336.65.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $106.96 billion. During the same period in the previous year, the firm earned $2.81 earnings per share. Alphabet's quarterly revenue was up 21.8% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 14.33 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared 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 0.3%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is presently 6.71%.
Wall Street Analyst Weigh In
A number of research firms have commented on GOOG. Truist Financial set a $430.00 target price on Alphabet in a report on Monday, June 1st. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. TD Cowen upped their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, Freedom Capital lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and a consensus price target of $383.44.
Check Out Our Latest Research Report on Alphabet
Alphabet Company Profile
(
Free Report)
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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