Riverbridge Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,866 shares of the information services provider's stock after selling 33,714 shares during the quarter. Alphabet comprises 1.9% of Riverbridge Partners LLC's portfolio, making the stock its 15th biggest holding. Riverbridge Partners LLC's holdings in Alphabet were worth $77,027,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. State Street Corp lifted its stake in shares of Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after buying an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after buying an additional 2,666,676 shares during the period. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth $30,534,239,000. Finally, Bank of America Corp DE grew its stake in Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after buying an additional 3,218,852 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 617 shares of Alphabet 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 sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. The trade was 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. Insiders have sold a total of 151,523 shares of company stock worth $4,863,526 over the last 90 days. Insiders own 11.61% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Guggenheim reiterated a "buy" rating and issued a $450.00 target price (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Oppenheimer upped their price target on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Dbs Bank raised their price target on Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Loop Capital lifted their price objective on Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $450.00 price objective on shares of Alphabet in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $413.13.
Read Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Shares of Alphabet stock opened at $337.39 on Monday. 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 Inc. has a fifty-two week low of $171.73 and a fifty-two week high of $408.61. The firm has a fifty day moving average price of $368.94 and a two-hundred day moving average price of $333.02. The company has a market cap of $4.09 trillion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.
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 the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
- Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
- Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here's Who the Real Winner Is.
- Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
- Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
- Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
- Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
- Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment
About Alphabet
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Free Report)
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.
Further Reading
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