New York State Teachers Retirement System Sells 129,872 Shares of Alphabet Inc. $GOOGL

Key Points

• New York State Teachers Retirement System trimmed its Alphabet stake by 2.7% in the fourth quarter, selling 129,872 shares and leaving it with 4.73 million shares valued at about $1.48 billion. Alphabet remains one of the fund’s largest holdings, making up 2.9% of its portfolio.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus the $2.64 consensus estimate and revenue of $109.9 billion, topping analyst expectations. The company also said analysts still see meaningful upside, with a consensus price target of $411.23 and a Moderate Buy rating.
• Alphabet raised its quarterly dividend to $0.22 per share from $0.21, marking a small increase and implying an annualized yield of 0.2%. The dividend payout ratio remains low at 6.41%, suggesting plenty of room for reinvestment and future payments.

New York State Teachers Retirement System cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,733,757 shares of the information services provider's stock after selling 129,872 shares during the quarter. Alphabet accounts for 2.9% of New York State Teachers Retirement System's portfolio, making the stock its 5th biggest holding. New York State Teachers Retirement System's holdings in Alphabet were worth $1,481,666,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GOOGL. Brighton Jones LLC boosted its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its position in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank boosted its position in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL opened at $387.66 on Wednesday. The firm has a market cap of $4.70 trillion, a PE ratio of 29.57, a P/E/G ratio of 1.70 and a beta of 1.26. The business has a fifty day simple moving average of $333.00 and a 200-day simple moving average of $319.32. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Argus increased their price objective on Alphabet from $365.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Citizens Jmp lifted their price objective on Alphabet from $385.00 to $515.00 and gave the stock a "market outperform" rating in a research report on Monday, May 4th. DA Davidson lifted their price objective on Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Oppenheimer lifted their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Finally, Rothschild & Co Redburn upped their target price on Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $411.23.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and Blackstone announced a $5 billion AI infrastructure joint venture to build TPU-powered cloud capacity, which could deepen demand for Google’s custom chips and expand its AI ecosystem. Google, Blackstone to create new AI cloud company, WSJ reports
• Positive Sentiment: Google I/O showcased a broad AI push across Search, Gemini, Workspace, shopping, and video tools, reinforcing the idea that Alphabet is monetizing AI rather than just defending against rivals. Google debuts new AI models, personal AI agents in effort to keep pace with OpenAI and Anthropic
• Positive Sentiment: Analyst sentiment remains constructive, with Arete Research lifting its price target to $425 and maintaining a buy rating, signaling continued upside expectations. Arete Research adjusts price target on Alphabet to $425 from $405
• Positive Sentiment: Alphabet said Gemini now has 900 million monthly users and AI Overviews has 2.5 billion monthly users, suggesting its AI products are already reaching scale. Google kicks off I/O conference with AI upgrades for coders, consumers
• Neutral Sentiment: Alphabet disclosed insider sales by a major shareholder, but the transactions appear routine and are not, by themselves, a strong fundamental signal. SEC filing
• Negative Sentiment: Some investors are uneasy that Google’s AI-heavy search redesign could disrupt the company’s core ad model, especially as the “ten blue links” era fades. Google Search as you know it is over
• Negative Sentiment: There is also headline risk from broader scrutiny around platform responsibility and YouTube youth-safety issues, which may keep some investors cautious. Alphabet’s $5 Trillion Milestone: How AI Ambitions Are Fueling Google’s Record Run

Insider Activity

In other news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total transaction of $348,232.50. Following the completion of the sale, 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. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the business'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 sale, the insider owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 226,481 shares of company stock valued at $27,422,061. 11.61% of the stock is owned by 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.

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