Kornitzer Capital Management Inc. KS Has $102.46 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Kornitzer Capital Management reduced its Alphabet stake by 5.8% in the fourth quarter, but still held 327,355 shares valued at about $102.46 million, making GOOGL its fifth-largest position.
• Wall Street remains broadly positive on Alphabet, with analysts giving the stock a “Moderate Buy” consensus and a consensus price target of $412.65 despite a few mixed rating changes.
• Alphabet continues to show strong momentum from its AI push and recent earnings, reporting better-than-expected quarterly results, raising its dividend, and highlighting major AI initiatives such as Google I/O product launches and a $5 billion AI cloud venture with Blackstone.

Kornitzer Capital Management Inc. KS decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,355 shares of the information services provider's stock after selling 20,256 shares during the period. Alphabet comprises about 2.1% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 5th largest holding. Kornitzer Capital Management Inc. KS's holdings in Alphabet were worth $102,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. PMV Capital Advisers LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet in the 3rd quarter valued at approximately $53,000. Kentucky Trust Co increased its position in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after acquiring an additional 100 shares during the period. iSAM Funds UK Ltd acquired a new position in Alphabet in the 3rd quarter valued at approximately $53,000. Finally, Sellwood Investment Partners LLC acquired a new position in Alphabet in the 3rd quarter valued at approximately $63,000. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GOOGL shares. Roth Mkm restated a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Canaccord Genuity Group upped their price target on shares of Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. UBS Group restated a "neutral" rating on shares of Alphabet in a research report on Wednesday. Freedom Capital cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, KeyCorp restated an "overweight" rating and issued a $425.00 price target on shares of Alphabet in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $412.65.

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,481 shares of company stock valued at $27,422,061 over the last 90 days. 11.61% of the stock is owned by company insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google I/O showcase highlighted a broad AI push across Search, Gemini, Workspace, shopping, coding, and video tools, reinforcing expectations that Google can monetize AI rather than just defend against competitors. Google debuts new AI models, personal AI agents in effort to keep pace with OpenAI and Anthropic
• Positive Sentiment: Google and Blackstone announced a $5 billion joint venture to build AI cloud infrastructure powered by Google’s TPU chips, which could expand demand for Alphabet’s custom silicon and strengthen its enterprise AI ecosystem. Google, Blackstone to create new AI cloud company, WSJ reports
• Positive Sentiment: Wall Street analysts turned more constructive after I/O, with firms including BofA, KeyCorp, Citizens JMP, Needham, and others reiterating or raising targets, signaling confidence that Alphabet’s AI strategy is gaining traction. Alphabet analyst forecasts
• Positive Sentiment: Alphabet said Gemini now has 900 million monthly users and AI Overviews has 2.5 billion monthly users, showing that its AI products are already operating at significant scale. Google kicks off I/O conference with AI upgrades for coders, consumers
• Positive Sentiment: Alphabet also introduced new AI-powered search and shopping features, including agentic tools and a universal cart, which could open additional monetization opportunities. Google's new Universal Cart wants to follow you across the entire internet
• Neutral Sentiment: Insider and shareholder sales were disclosed, including a director sale and a larger shareholder sale, but these appear to be routine filings rather than a clear signal of changing fundamentals. SEC filing
• Negative Sentiment: Ofcom said YouTube and TikTok have not done enough to protect British children from harmful content, adding another layer of regulatory scrutiny for Alphabet’s YouTube business. TikTok, YouTube lag on UK child safety as rivals act, regulator says
• Negative Sentiment: Some investors worry that Google’s AI-heavy search redesign could pressure its core ad model by reducing reliance on the traditional “ten blue links” format. Google Search as you know it is over

Alphabet Trading Up 0.3%

GOOGL opened at $388.91 on Thursday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. 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 company has a fifty day moving average of $334.65 and a 200-day moving average of $320.07. The stock has a market cap of $4.71 trillion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. On average, sell-side analysts predict that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 dividend 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 currently 6.41%.

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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