OVERSEA CHINESE BANKING Corp Ltd Has $109.61 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• OVERSEA CHINESE BANKING Corp Ltd cut its Alphabet stake by 52.3% in the fourth quarter, but still held 350,139 shares worth about $109.6 million at quarter-end.
• Alphabet continues to receive bullish analyst support, with several firms raising price targets after strong results; the consensus rating remains Moderate Buy with a target around $407.86.
• The company reported better-than-expected earnings and revenue for the latest quarter, while also lifting its quarterly dividend to $0.22 per share from $0.21.

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 52.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,139 shares of the information services provider's stock after selling 384,437 shares during the period. Alphabet comprises 2.9% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 7th largest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in Alphabet were worth $109,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphabet in the 3rd quarter valued at $416,217,000. Sovran Advisors LLC lifted its stake in shares of Alphabet by 23.6% during the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock valued at $5,401,000 after acquiring an additional 4,241 shares during the period. Wright Investors Service Inc. boosted its holdings in Alphabet by 21.2% in the third quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock valued at $12,171,000 after acquiring an additional 8,746 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Alphabet by 3.8% in the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock valued at $405,131,000 after acquiring an additional 60,831 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its position in Alphabet by 5.4% in the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock worth $17,652,000 after purchasing an additional 3,740 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on GOOGL shares. Mizuho boosted their price objective on Alphabet from $420.00 to $460.00 and gave the stock an "outperform" rating in a report on Wednesday. Tigress Financial set a $415.00 price target on shares of Alphabet and gave the stock a "strong-buy" rating in a research report on Thursday, February 19th. Arete Research boosted their price target on shares of Alphabet from $380.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Barclays restated an "overweight" rating and issued a $405.00 price objective (up from $360.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Moffett Nathanson raised their price objective on shares of Alphabet from $305.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $407.86.

Key Alphabet News

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

Insider Buying and Selling at Alphabet

In other Alphabet 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 transaction, the director owned 3,581 shares of the company's stock, valued at $1,187,638.65. The trade was a 22.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 955 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the sale, the chief accounting officer directly owned 9,918 shares of the company's stock, valued at approximately $2,955,564. The trade was a 8.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 158,553 shares of company stock valued at $47,951,856. Corporate insiders own 11.61% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $400.69 on Friday. The firm has a market cap of $4.85 trillion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The stock's 50-day moving average is $318.66 and its 200-day moving average is $311.72. Alphabet Inc. has a one year low of $152.20 and a one year high of $402.00. 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $106.98 billion. Equities analysts predict that Alphabet Inc. will post 14.01 earnings per share 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 is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's payout ratio 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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