Oppenheimer Asset Management Inc. Has $108.90 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Oppenheimer Asset Management trimmed its Alphabet stake by 6.7% in the fourth quarter, but it still held 347,921 shares worth about $108.9 million, making GOOGL its 8th-largest position.
• Alphabet continues to draw strong institutional and analyst support, with multiple firms raising price targets and consensus ratings staying at Moderate Buy. The stock is also backed by sizable institutional ownership at 40.03%.
• The company’s recent results and AI momentum remain key catalysts: Alphabet beat quarterly EPS and revenue expectations, lifted its dividend, and is expanding its AI push through initiatives like the $5 billion AI infrastructure joint venture with Blackstone.

Oppenheimer Asset Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,921 shares of the information services provider's stock after selling 24,938 shares during the quarter. Alphabet accounts for approximately 1.3% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 8th largest position. Oppenheimer Asset Management Inc.'s holdings in Alphabet were worth $108,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. PMV Capital Advisers LLC bought a new stake in Alphabet during the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Alphabet during the 3rd quarter valued at $53,000. Kentucky Trust Co increased its stake in Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after purchasing an additional 100 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in Alphabet during the 3rd quarter valued at $53,000. Finally, Sellwood Investment Partners LLC bought a new stake in Alphabet during the 3rd quarter valued at $63,000. Institutional investors own 40.03% of the company's stock.

Key Stories Impacting Alphabet

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

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction dated 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 in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,481 shares of company stock worth $27,422,061 in the last ninety days. 11.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on GOOGL shares. DZ Bank restated a "buy" rating on shares of Alphabet in a research note on Monday, February 16th. Daiwa Securities Group boosted their price target on shares of Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Dbs Bank boosted their price target on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Argus boosted their price target on shares of Alphabet from $365.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. 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 data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $411.23.

Alphabet Trading Down 2.3%

Shares of Alphabet stock opened at $387.66 on Wednesday. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The stock's 50-day simple moving average is $333.00 and its 200 day simple moving average is $319.32. The stock has a market capitalization of $4.70 trillion, a P/E ratio of 29.57, a P/E/G ratio of 1.70 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $106.98 billion. As a group, research analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

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

Alphabet Company Profile

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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