New Age Alpha Advisors LLC Has $38.44 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• New Age Alpha Advisors cut its Alphabet stake by 24.5% in the fourth quarter, but still held 122,481 shares worth about $38.4 million, making GOOG its 7th largest position.
• Alphabet reported better-than-expected quarterly results, with EPS of $5.11 versus $2.68 expected and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly positive with a consensus rating of Buy and an average price target of $376.

New Age Alpha Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 122,481 shares of the information services provider's stock after selling 39,726 shares during the period. Alphabet comprises approximately 1.7% of New Age Alpha Advisors LLC's holdings, making the stock its 7th largest holding. New Age Alpha Advisors LLC's holdings in Alphabet were worth $38,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Allen Capital Group LLC raised its position in shares of Alphabet by 12.5% during the fourth quarter. Allen Capital Group LLC now owns 7,739 shares of the information services provider's stock worth $2,429,000 after acquiring an additional 862 shares during the last quarter. LifePlan Investment Advisors Inc. boosted its holdings in Alphabet by 11.3% in the fourth quarter. LifePlan Investment Advisors Inc. now owns 1,083 shares of the information services provider's stock valued at $340,000 after acquiring an additional 110 shares during the last quarter. Wealthquest Corp acquired a new stake in Alphabet in the fourth quarter worth about $757,000. Lathrop Investment Management Co. raised its holdings in Alphabet by 14.5% during the 4th quarter. Lathrop Investment Management Co. now owns 2,489 shares of the information services provider's stock worth $781,000 after purchasing an additional 316 shares during the last quarter. Finally, Praxis Capital Management LLC bought a new stake in Alphabet during the 4th quarter worth about $1,163,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 102 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the sale, the director owned 18,721 shares in the company, valued at $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 193,016 shares of company stock valued at $17,282,549. 12.99% of the stock is owned by company insiders.

Alphabet Stock Down 3.8%

Alphabet stock opened at $358.39 on Wednesday. The firm has a market capitalization of $4.34 trillion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.60 and a beta of 1.22. The company's 50 day simple moving average is $344.61 and its 200 day simple moving average is $325.11. 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 Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. During the same period last year, the firm posted $2.81 earnings per share. The business's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. 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 yield of 0.2%. Alphabet's payout ratio is presently 6.41%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s $10 billion commitment to Alphabet supports the company’s AI strategy and signals strong long-term investor confidence. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
• Positive Sentiment: Some analysts say Google remains a key beneficiary of AI search growth, suggesting its core search and ad business may hold up better than feared. Google Is the Clear Beneficiary,’ Says Top Analyst as AI Search Takes Off
• Neutral Sentiment: Alphabet’s stakes in private AI-related companies such as Anthropic and exposure to future IPO optionality may add long-term upside, but this is not a near-term catalyst. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs
• Negative Sentiment: The $80 billion stock sale raised concerns about dilution and the rising cost of Alphabet’s AI expansion, which is pressuring sentiment in the stock. Alphabet plans to raise $80 billion to pay for AI buildout
• Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, which could limit Google’s access to certain government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research note on Monday. TD Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Thursday, May 21st. Pivotal Research reiterated a "buy" rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, DZ Bank raised Alphabet to a "strong-buy" rating in a research note on Monday, February 16th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $376.00.

About Alphabet

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.

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