Mondrian Investment Partners LTD Has $200.36 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Mondrian Investment Partners cut its Alphabet stake by 20.4% in the fourth quarter, selling 163,636 shares and leaving it with 640,124 shares valued at about $200.36 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus expectations of $2.64 and revenue of $109.9 billion, both topping analyst forecasts.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly bullish with a consensus rating of Moderate Buy and an average target price of $413.13.

Mondrian Investment Partners LTD lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 640,124 shares of the information services provider's stock after selling 163,636 shares during the period. Alphabet makes up about 3.2% of Mondrian Investment Partners LTD's investment portfolio, making the stock its 9th biggest holding. Mondrian Investment Partners LTD's holdings in Alphabet were worth $200,359,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC raised its stake in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after buying an additional 48,805 shares during the period. Finally, United Bank raised its stake in Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after buying an additional 3,120 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL stock opened at $368.53 on Friday. The stock has a 50-day moving average price of $352.70 and a two-hundred day moving average price of $327.81. The stock has a market cap of $4.47 trillion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.58 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 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 earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities analysts forecast that Alphabet Inc. will post 14.29 EPS 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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend 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%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock's 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK 'conduct requirement'

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Bank of America raised their price objective on Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Royal Bank Of Canada set a $425.00 price objective on Alphabet and gave the stock an "outperform" rating in a research note on Thursday, April 30th. UBS Group reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, May 20th. Robert W. Baird raised their price objective on Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $413.13.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 193,016 shares of company stock valued at $17,282,549 in the last quarter. 11.61% of the stock is currently owned by corporate insiders.

About Alphabet

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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