IvyRock Asset Management HK Ltd Invests $11.49 Million in Alphabet Inc. $GOOGL

Key Points

• IvyRock Asset Management HK Ltd opened a new position in Alphabet, buying 36,700 shares valued at about $11.49 million. The stake now represents roughly 6.1% of the fund’s portfolio.
• Other institutional investors also increased their Alphabet holdings, and hedge funds now own 40.03% of the company’s stock. Meanwhile, analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $413.13.
• Alphabet reported strong quarterly results, with earnings per share of $5.11 versus estimates of $2.64 and revenue of $109.9 billion beating expectations. The company also raised its quarterly dividend to $0.22 per share, while shares were down 2.2% on the day.

IvyRock Asset Management HK Ltd acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,700 shares of the information services provider's stock, valued at approximately $11,487,000. Alphabet makes up about 6.1% of IvyRock Asset Management HK Ltd's investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank grew its holdings in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their price objective on Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. CICC Research upped their target price on Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research note on Wednesday, June 3rd. Daiwa Securities Group upped their target price on Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $413.13.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the 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 sale, the insider directly owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 193,016 shares of company stock valued at $17,282,549. Corporate insiders own 11.61% of the company's stock.

Alphabet Stock Down 2.2%

Shares of GOOGL opened at $356.38 on Thursday. The firm has a market cap of $4.32 trillion, a P/E ratio of 27.18, a P/E/G ratio of 1.56 and a beta of 1.23. The stock has a 50 day simple moving average of $357.80 and a two-hundred day simple moving average of $329.64. 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 Inc. has a 1 year low of $162.00 and a 1 year high of $408.61.

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 analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's payout ratio is currently 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts turned more optimistic on Alphabet’s 2027 outlook, citing strong AI and Google Cloud growth potential. Veteran Analyst Firm Resets Alphabet Forecast for 2027
• Positive Sentiment: Google introduced new Gemini features for small businesses, which could help drive AI adoption and future subscription revenue. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Coverage highlighted Alphabet as a strong long-term growth story, supported by Search, Cloud, and AI. Why Alphabet (GOOGL) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Google Cloud disruption in India from a third-party facility fire appears temporary, but it underscores operational and infrastructure risk. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Alphabet’s bid for a new trial in the youth social media addiction case, keeping litigation risk alive for YouTube. Market Chatter: Google, Meta Platforms Denied New Trial in Youth Social Media Addiction Case by California Judge
• Negative Sentiment: Reports of Gemini/Google Workspace AI errors and downtime may weigh on sentiment around product reliability. Gemini Is Down? Live Updates on Google Workspace's AI Errors

Alphabet 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.

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