Lmcg Investments LLC Has $30.04 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Lmcg Investments LLC reduced its Alphabet stake by 15.2% in the fourth quarter, selling 17,125 shares and leaving it with 95,733 shares valued at about $30.04 million. Alphabet remains its 13th-largest holding.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus the $2.68 estimate and revenue of $109.9 billion, ahead of forecasts. Revenue rose 21.8% year over year.
• Wall Street remains broadly bullish on GOOG, with a consensus “Buy” rating and average price target of $363.40, while several analysts have recently raised targets ahead of expected AI-related announcements.

Lmcg Investments LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,733 shares of the information services provider's stock after selling 17,125 shares during the period. Alphabet comprises approximately 1.7% of Lmcg Investments LLC's holdings, making the stock its 13th largest holding. Lmcg Investments LLC's holdings in Alphabet were worth $30,041,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock valued at $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock valued at $9,749,864,000 after acquiring an additional 2,209,203 shares in the last quarter. Legal & General Group Plc raised its holdings in Alphabet by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider's stock valued at $7,935,671,000 after acquiring an additional 223,743 shares in the last quarter. Finally, Capital World Investors raised its holdings in Alphabet by 1.9% in the 3rd quarter. Capital World Investors now owns 28,625,464 shares of the information services provider's stock valued at $6,971,769,000 after acquiring an additional 539,679 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOG shares. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a "buy" rating in a report on Friday, March 13th. KeyCorp set a $370.00 target price on Alphabet in a report on Thursday, February 5th. Freedom Capital cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Wedbush reissued an "outperform" rating and issued a $370.00 target price on shares of Alphabet in a report on Thursday, February 5th. Finally, Oppenheimer increased their target price on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a report on Friday. Six research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $363.40.

Alphabet Stock Down 1.0%

NASDAQ GOOG opened at $393.32 on Friday. The firm has a market cap of $4.77 trillion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Alphabet Inc. has a one year low of $163.33 and a one year high of $399.93. The stock's 50 day simple moving average is $327.44 and its 200 day simple moving average is $316.98. 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 (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.81 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is 6.41%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the transaction, the director owned 3,581 shares in the company, valued at $1,187,638.65. The trade was a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 157,953 shares of company stock worth $47,767,818. Corporate insiders own 12.99% of the company's stock.

Alphabet Profile

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.