M&T Bank Corp Decreases Stake in Alphabet Inc. $GOOGL

Key Points

• M&T Bank Corp slashed its Alphabet stake by 99.2% in the fourth quarter, selling 944,093 shares and leaving it with 7,516 shares worth about $2.35 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus the $2.64 consensus and revenue of $109.9 billion, both ahead of expectations.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $407.86.

M&T Bank Corp reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 99.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,516 shares of the information services provider's stock after selling 944,093 shares during the quarter. M&T Bank Corp's holdings in Alphabet were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Global Trust Wealth Management LLC bought a new stake in Alphabet in the 4th quarter worth about $1,803,000. Walleye Partners LLC bought a new position in Alphabet during the 4th quarter valued at about $296,000. Southern Capital Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $249,000. Crown Wealth Group LLC boosted its holdings in shares of Alphabet by 3.1% during the 4th quarter. Crown Wealth Group LLC now owns 19,823 shares of the information services provider's stock valued at $6,205,000 after acquiring an additional 587 shares during the last quarter. Finally, TABR Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth approximately $364,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 158,553 shares of company stock worth $47,951,856 in the last ninety days. Corporate insiders own 11.61% of the company's stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $400.69 on Friday. The business's fifty day moving average is $318.66 and its 200 day moving average is $311.72. Alphabet Inc. has a fifty-two week low of $152.20 and a fifty-two week high of $402.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. 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 (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $106.98 billion. Sell-side analysts predict that Alphabet Inc. will post 14.01 earnings per share for the current year.

Alphabet Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore increased their price objective on shares of Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Arete Research lifted their price objective on Alphabet from $380.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Susquehanna reiterated a "positive" rating and set a $460.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Roth Mkm reissued a "buy" rating on shares of Alphabet in a report on Thursday, April 30th. Finally, Wells Fargo & Company cut their price target on Alphabet from $397.00 to $361.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $407.86.

Key Headlines Impacting Alphabet

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

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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