Pittenger & Anderson Inc. Has $70.86 Million Position in Alphabet Inc. $GOOGL

Key Points

• Pittenger & Anderson Inc. trimmed its Alphabet stake by 4.2% in the fourth quarter, but still held 226,387 shares worth about $70.86 million, making Alphabet its fifth-largest holding.
• Alphabet’s latest quarterly results were strong, with EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion topping forecasts, while the company also raised its quarterly dividend to $0.22 per share.
• Wall Street sentiment remains upbeat, with multiple analysts reiterating buy/outperform ratings and a consensus price target of $412.65, even as Waymo safety and rollout issues create some near-term caution.

Pittenger & Anderson Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,387 shares of the information services provider's stock after selling 9,840 shares during the quarter. Alphabet comprises about 2.7% of Pittenger & Anderson Inc.'s investment portfolio, making the stock its 5th largest holding. Pittenger & Anderson Inc.'s holdings in Alphabet were worth $70,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Berkshire Hathaway Inc bought a new stake in shares of Alphabet in the third quarter worth about $4,338,397,000. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. Capital World Investors increased its holdings in shares of Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Alphabet by 15.7% in the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after acquiring an additional 6,874,381 shares in the last quarter. Finally, Mizuho Markets Cayman LP increased its holdings in shares of Alphabet by 23,402.1% in the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock worth $1,487,419,000 after acquiring an additional 6,092,513 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google I/O announcements reinforced the company’s AI monetization story, with new ad formats, shopping tools, and Gemini-based products that could lift search and commerce revenue. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Several analysts reiterated bullish or supportive views on Alphabet after I/O, including price-target increases that point to more upside if AI rollout gains traction. Analyst rating updates on Alphabet
• Positive Sentiment: Google’s broader AI push remains a tailwind for Alphabet, with articles highlighting strong cloud/AI demand and growing usage across Gemini and AI Overviews. 4 Cloud Computing Stocks Benefiting From AI-Driven Demand
• Positive Sentiment: Alphabet continues to win favorable Wall Street coverage, including multiple buy ratings and raised targets, which can help support the stock near recent highs. Alphabet's Googlebook Brings Gemini AI to PC Hardware
• Neutral Sentiment: Alphabet’s quarterly dividend increase and continued strong earnings remain supportive, but these were already known catalysts rather than a fresh surprise for traders. Alphabet stock performance and company details
• Neutral Sentiment: There was also a routine insider sale by a director, which may get attention but does not by itself change the company’s long-term outlook. SEC filing
• Neutral Sentiment: Alphabet’s new AI search experience has sparked debate about the future of web traffic and search behavior, but this is more of a strategic overhang than an immediate earnings issue. Google is going to ruin the internet
• Negative Sentiment: Waymo suspended freeway robotaxi rides and paused Atlanta operations while it fixes software problems in construction zones and flooded roads, raising short-term safety and execution concerns for Alphabet’s self-driving unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Additional reports said Waymo paused service in multiple cities after robotaxis struggled in heavy rain and construction zones, reinforcing concerns about rollout reliability. Waymo halts freeway rides after robotaxis struggle in construction zones
• Negative Sentiment: Regulatory and public-safety scrutiny is also building around Google’s platforms, including EU complaints over financial scams and UK child-safety criticism on YouTube. Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 226,481 shares of company stock valued at $27,422,061. Insiders own 11.61% of the company's stock.

Alphabet Stock Down 0.3%

GOOGL stock opened at $387.66 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market capitalization of $4.70 trillion, a P/E ratio of 29.57, a P/E/G ratio of 1.66 and a beta of 1.26. The business has a 50-day moving average of $336.26 and a 200-day moving average of $320.82. 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 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. 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 analysts' expectations of $106.98 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date of this dividend 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 dividend yield of 0.2%. Alphabet's payout ratio is 6.41%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOGL shares. Royal Bank Of Canada set a $425.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Thursday, April 30th. CICC Research increased their price target on Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a report on Friday, May 1st. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. JPMorgan Chase & Co. restated a "buy" rating on shares of Alphabet in a report on Monday, May 4th. Finally, Morgan Stanley increased their price target on Alphabet from $330.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $412.65.

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.

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