Riverbridge Partners LLC Sells 20,709 Shares of Alphabet Inc. $GOOG

Key Points

• Riverbridge Partners LLC reduced its Alphabet stake by 9.0% in the first quarter, selling 20,709 shares and leaving it with 210,154 shares valued at about $60.3 million.
• Alphabet reported better-than-expected Q1 earnings, posting $5.11 EPS versus $2.68 expected 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, while analysts largely remain bullish with a consensus Buy rating and an average price target of $376.78.

Riverbridge Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 210,154 shares of the information services provider's stock after selling 20,709 shares during the period. Alphabet comprises 1.5% of Riverbridge Partners LLC's portfolio, making the stock its 20th biggest holding. Riverbridge Partners LLC's holdings in Alphabet were worth $60,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kathmere Capital Management LLC boosted its holdings in shares of Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after purchasing an additional 2,341 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock worth $53,920,000 after purchasing an additional 2,009 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in shares of Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after buying an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Alphabet by 7.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock worth $19,060,000 after buying an additional 4,239 shares in the last quarter. Finally, World Investment Advisors boosted its stake in Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock valued at $59,827,000 after buying an additional 15,280 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG opened at $334.71 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.06 trillion, a PE ratio of 25.53, a P/E/G ratio of 1.46 and a beta of 1.22. Alphabet Inc. has a 12 month low of $172.71 and a 12 month high of $404.47. The stock has a fifty day moving average price of $366.33 and a 200-day moving average price of $331.94.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the previous year, the business earned $2.81 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date was 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 0.3%. Alphabet's payout ratio is presently 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s advertising business is still growing, with one analyst note pointing to rising ad revenues and AI-driven ad tools as a source of further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Wedbush said the recent sell-off in big tech and AI names looks more like a buying opportunity than a broken AI thesis, and included Alphabet among the core beneficiaries of the AI trend. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: Alphabet continues to get bullish long-term commentary from investors who see it as a strong growth and AI compounder, helped by Google Cloud momentum and AI monetization potential. Alphabet: Still A Top-Tier AI Compounder
• Neutral Sentiment: Alphabet is set to join the Dow Jones Industrial Average, which is a notable index inclusion but not an immediate fundamental catalyst. Alphabet Set to Join Dow Jones Industrial Average as Verizon Exits Index (GOOG)
• Neutral Sentiment: A new bill would study data-center energy and water measurement standards, which could eventually affect Alphabet’s cloud and AI infrastructure, but it does not create immediate regulation. New Bill: Representative Suhas Subramanyam introduces H.R. 9372: Data Infrastructure Energy Measurement and Standards Act
• Negative Sentiment: Investor concern is centered on Google’s AI talent exodus, with reports of more researchers leaving for rivals like Anthropic, raising worries about execution in Gemini and broader AI competitiveness. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: A separate report said Google is taking a tougher stance with publishers to secure broader content access for AI training, while publishers warn that traffic declines are already hurting them, adding to regulatory and relationship risk. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Several articles this week continued to highlight weakness in the “all-in on AI” trade and pressure on Alphabet shares tied to AI talent losses and competitive fears. Ranking the FAANG Stocks From Most to Least Attractive, Based on Future Cash Flow

Insider Activity 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 Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 151,523 shares of company stock worth $4,863,526. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOG shares. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. The Goldman Sachs Group reiterated a "buy" rating and issued a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. TD Cowen lifted their price objective on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Finally, Scotiabank restated an "outperform" rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus target price of $376.78.

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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