PFA Pension Forsikringsaktieselskab Makes New Investment in Alphabet Inc. $GOOG

Key Points

• PFA Pension Forsikringsaktieselskab took a new position in Alphabet during the fourth quarter, buying 2,765,161 shares worth about $869.8 million. Alphabet now makes up roughly 2.5% of the fund’s holdings and is its seventh-largest position.
• Alphabet reported a strong quarter, with EPS of $5.11 versus estimates of $2.68 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.
• Analysts remain broadly bullish on GOOG, with an average rating of “Buy” and an average price target of $362.73. Recent commentary has been upbeat on Alphabet’s AI, cloud, and Gemini momentum, while insiders have also been selling shares over the past 90 days.

PFA Pension Forsikringsaktieselskab acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,765,161 shares of the information services provider's stock, valued at approximately $869,781,000. Alphabet accounts for approximately 2.5% of PFA Pension Forsikringsaktieselskab's holdings, making the stock its 7th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Everest Management Corp. increased its holdings in Alphabet by 1.2% in the 4th quarter. Everest Management Corp. now owns 42,798 shares of the information services provider's stock worth $13,430,000 after acquiring an additional 499 shares in the last quarter. Blalock Williams LLC lifted its holdings in Alphabet by 2.9% during the fourth quarter. Blalock Williams LLC now owns 5,666 shares of the information services provider's stock valued at $1,778,000 after purchasing an additional 159 shares in the last quarter. Acorn Creek Capital LLC raised its position in shares of Alphabet by 1.6% during the 4th quarter. Acorn Creek Capital LLC now owns 6,183 shares of the information services provider's stock valued at $1,940,000 after purchasing an additional 96 shares during the period. CapWealth Advisors LLC raised its position in shares of Alphabet by 113.5% during the 4th quarter. CapWealth Advisors LLC now owns 1,881 shares of the information services provider's stock valued at $590,000 after purchasing an additional 1,000 shares during the period. Finally, Essex Bank lifted its stake in shares of Alphabet by 9.7% during the 4th quarter. Essex Bank now owns 34,793 shares of the information services provider's stock valued at $10,918,000 after buying an additional 3,063 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google said it likely stopped a hacker group from using AI to plan a large-scale cyberattack, underscoring the strength of its cybersecurity capabilities and reducing the risk of a major breach. Reuters: Hackers pushing innovation in AI-enabled hacking operations, Google says
• Positive Sentiment: Investor commentary remained upbeat on Alphabet’s AI, cloud, and Gemini momentum, with some coverage arguing the company could challenge Nvidia as the world’s most valuable company. MSN: Alphabet could overtake Nvidia as world's largest company
• Neutral Sentiment: Google Finance is expanding in Europe, adding another AI-focused product initiative, but this is more of a long-term growth story than an immediate stock-moving catalyst. PYMNTS: Google Finance Continues AI-Focused Expansion With EU Launch

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 955 shares of Alphabet stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the sale, the chief accounting officer owned 9,918 shares of the company's stock, valued at $2,955,564. The trade was a 8.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the company'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 value of $348,232.50. Following the sale, the director directly owned 3,581 shares in the company, valued at $1,187,638.65. This trade represents a 22.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 158,553 shares of company stock worth $47,951,856. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 2.6%

Shares of GOOG stock opened at $386.77 on Tuesday. The company's fifty day simple moving average is $320.46 and its two-hundred day simple moving average is $313.53. Alphabet Inc. has a 52 week low of $157.58 and a 52 week high of $398.37. The stock has a market cap of $4.69 trillion, a P/E ratio of 29.50, a PEG ratio of 1.62 and a beta of 1.25. 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 (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter last year, the business posted $2.81 earnings per share. The business's quarterly revenue was up 21.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This is a boost 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 dividend payout ratio is currently 6.41%.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $395.00 target price on shares of Alphabet in a report on Thursday, February 5th. TD Cowen boosted their price objective on Alphabet from $375.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $375.00 price objective on shares of Alphabet in a research note on Thursday, January 15th. Wedbush reiterated an "outperform" rating and set a $370.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $362.73.

Alphabet Company Profile

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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