L. Roy Papp & Associates LLP Sells 4,268 Shares of Alphabet Inc. $GOOGL

Key Points

• L. Roy Papp & Associates LLP reduced its Alphabet stake by 3.9% in the fourth quarter, selling 4,268 shares. The firm still held 106,511 shares valued at about $33.3 million, making Alphabet its 6th-largest holding.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates of $2.64 and revenue of $109.9 billion topping expectations. Analysts now expect the company to earn 14.01 EPS for the current fiscal year.
• The company raised its quarterly dividend to $0.22 per share from $0.21, while recent news also highlighted AI-driven ad tools and multiple analyst price-target hikes that reinforce optimism about Alphabet’s growth prospects.

L. Roy Papp & Associates LLP cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,511 shares of the information services provider's stock after selling 4,268 shares during the period. Alphabet accounts for approximately 3.7% of L. Roy Papp & Associates LLP's holdings, making the stock its 6th biggest holding. L. Roy Papp & Associates LLP's holdings in Alphabet were worth $33,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc purchased a new position in shares of Alphabet in the 3rd quarter worth about $4,338,397,000. Capital World Investors grew its holdings in shares of Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. Capital Research Global Investors grew its holdings in shares of Alphabet by 15.7% during the 3rd quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after purchasing an additional 6,874,381 shares during the period. Mizuho Markets Cayman LP increased its position in Alphabet by 23,402.1% during the 3rd quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock worth $1,487,419,000 after purchasing an additional 6,092,513 shares in the last quarter. Finally, Coatue Management LLC increased its position in Alphabet by 259.1% during the 3rd quarter. Coatue Management LLC now owns 7,221,115 shares of the information services provider's stock worth $1,755,453,000 after purchasing an additional 5,210,434 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL stock opened at $400.69 on Friday. The firm has a fifty day simple moving average of $318.66 and a 200-day simple moving average of $311.72. The company has a market capitalization of $4.85 trillion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. Alphabet Inc. has a twelve month low of $152.20 and a twelve month high of $402.00. 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 released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) 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 firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Equities research analysts anticipate that Alphabet Inc. will post 14.01 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio is presently 6.41%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Alphabet from $330.00 to $375.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. China Renaissance raised their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Raymond James Financial upgraded shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, January 22nd. Rothschild & Co Redburn upped their price target on shares of Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Two research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $407.86.

Insiders Place Their Bets

In related news, CAO Amie Thuener O'toole sold 955 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer owned 9,918 shares of the company's stock, valued at approximately $2,955,564. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total value of $9,859,850.00. Following the sale, the chief executive officer owned 1,674,560 shares of the company's stock, valued at approximately $508,028,012.80. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 158,553 shares of company stock worth $47,951,856. 11.61% of the stock is owned by insiders.

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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