Keynote Financial Services LLC Has $4.85 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Keynote Financial Services LLC cut its Alphabet stake by 9.8% in the fourth quarter, but still held 15,481 shares worth about $4.85 million. Alphabet remains its 7th-largest position and makes up 2.7% of the portfolio.
• Wall Street sentiment on Alphabet remains constructive, with analysts assigning a Moderate Buy rating overall and an average price target of $413.13. Recent notes from firms like RBC, Susquehanna, and Citigroup included reiterated bullish ratings and higher targets.
• Alphabet’s latest fundamentals were strong, as it reported $5.11 EPS versus $2.64 expected and $109.9 billion in revenue, while also raising its quarterly dividend to $0.22 per share. The company continues to benefit from growth in areas like Waymo, Wing, and Google Cloud-related AI demand.

Keynote Financial Services LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,481 shares of the information services provider's stock after selling 1,678 shares during the period. Alphabet comprises approximately 2.7% of Keynote Financial Services LLC's portfolio, making the stock its 7th biggest position. Keynote Financial Services LLC's holdings in Alphabet were worth $4,846,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a report on Thursday, April 30th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $393.00 target price on shares of Alphabet in a report on Thursday, May 21st. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the company an "outperform" rating in a report on Thursday, April 30th. Susquehanna reaffirmed a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 102 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 193,016 shares of company stock valued at $17,282,549. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $359.68 on Friday. The stock has a fifty day simple moving average of $360.45 and a two-hundred day simple moving average of $330.26. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61. The firm has a market cap of $4.36 trillion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

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

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.

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