PGGM Investments Has $170.27 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• PGGM Investments trimmed its Alphabet stake slightly in the fourth quarter, selling 8,571 shares and ending with 543,993 shares worth about $170.27 million. Alphabet remains PGGM’s 7th-largest holding and represents roughly 2.7% of its portfolio.
• Alphabet’s latest results were strong, with quarterly EPS of $5.11 topping estimates by a wide margin and revenue also beating expectations. The company also reported solid profitability, including a net margin of 37.92% and return on equity of 38.99%.
• Wall Street remains broadly positive on GOOGL, with a consensus rating of “Moderate Buy” and an average price target of $413.13. Alphabet also raised its quarterly dividend to $0.22 per share, and several analysts recently lifted their targets.

PGGM Investments decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 543,993 shares of the information services provider's stock after selling 8,571 shares during the period. Alphabet comprises about 2.7% of PGGM Investments' holdings, making the stock its 7th largest holding. PGGM Investments' holdings in Alphabet were worth $170,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its stake in shares of 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 valued at $685,000 after acquiring an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after acquiring an additional 48,805 shares during the last quarter. Finally, United Bank raised its stake in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after acquiring an additional 3,120 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $363.31 on Tuesday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The firm has a fifty day simple moving average of $354.35 and a 200 day simple moving average of $328.67. The company has a market capitalization of $4.40 trillion, a PE ratio of 27.71, a P/E/G ratio of 1.58 and a beta of 1.23. 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:GOOGL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date 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 dividend payout ratio is 6.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOGL shares. UBS Group reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, May 20th. Citizens Jmp reaffirmed a "market outperform" rating and set a $515.00 price target on shares of Alphabet in a research note on Wednesday, May 20th. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. BNP Paribas Exane raised their price target on shares of Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Finally, Daiwa Securities Group raised 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. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $413.13.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s long-term AI opportunity remains a major bullish theme, with analysts arguing the company’s heavy investment could support future revenue growth and strengthen its competitive position in search, cloud, and AI. Alphabet: CapEx Pressure Is Real, But The Long-Term AI Opportunity Is Bigger
• Positive Sentiment: Alphabet continues to benefit from broader AI enthusiasm, including reports that Apple is turning to Google for help with its AI overhaul and that Google’s cloud and AI capabilities are being tied to major customer wins and partnerships. Apple tries again on AI, turns to Google for help
• Positive Sentiment: Waymo remains a strategic asset for Alphabet, with new robotaxi-related developments highlighting the unit’s leadership in autonomous driving and potential to unlock long-term value. Uber, Wayve and Waymo are headed towards a robotaxi showdown in London
• Neutral Sentiment: Alphabet is drawing investor attention after its latest earnings results showed strong quarterly performance, including earnings and revenue that beat expectations, which helps support the stock’s long-term valuation. Alphabet Inc. (GOOGL) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Alphabet’s dividend and other capital-return details are also getting attention, but these are unlikely to be the main driver of the stock’s move today. Google to pay dividends next week; Here's how much 100 GOOGL shares will earn
• Negative Sentiment: Shares are sliding because investors appear worried that Alphabet’s expanding AI spending could pressure margins and require more capital than expected before those investments pay off. What's Going On With Alphabet Stock?
• Negative Sentiment: Recent market-wide volatility has also weighed on megacap tech stocks, adding to the weakness in Alphabet despite the company’s long-term AI story. Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 617 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company's stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 193,016 shares of company stock valued at $17,282,549. 11.61% of the stock is currently owned by corporate insiders.

Alphabet 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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