S Bank Fund Management Ltd Cuts Position in Alphabet Inc. $GOOG

Key Points

• S Bank Fund Management Ltd cut its Alphabet stake by 23.2% in the fourth quarter, selling 10,351 shares and leaving it with 34,195 shares worth about $10.73 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 topping estimates by $2.43 and revenue rising 21.8% year over year to $109.9 billion.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, though the annualized yield remains low at about 0.2%.

S Bank Fund Management Ltd decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,195 shares of the information services provider's stock after selling 10,351 shares during the quarter. Alphabet accounts for approximately 1.4% of S Bank Fund Management Ltd's portfolio, making the stock its 18th largest position. S Bank Fund Management Ltd's holdings in Alphabet were worth $10,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock worth $24,240,469,000 after acquiring an additional 7,904,434 shares during the period. Alliancebernstein L.P. increased its position in shares of Alphabet by 5.8% during the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock worth $9,749,864,000 after acquiring an additional 2,209,203 shares during the period. Legal & General Group Plc increased its position in shares of Alphabet by 0.7% during the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider's stock worth $7,935,671,000 after acquiring an additional 223,743 shares during the period. Finally, Capital World Investors increased its position in shares of Alphabet by 1.9% during the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider's stock worth $6,971,769,000 after acquiring an additional 539,679 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $393.32 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. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $399.93. The company has a market capitalization of $4.77 trillion, a PE ratio of 30.00, a P/E/G ratio of 1.70 and a beta of 1.25. The company has a fifty day moving average of $327.44 and a two-hundred day moving average of $316.98.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is an increase 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 payout ratio is 6.41%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the transaction, the director directly owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares of the company's stock, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 157,953 shares of company stock valued at $47,767,818 over the last 90 days. Insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Piper Sandler reaffirmed an "overweight" rating and set a $395.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. BMO Capital Markets reaffirmed an "outperform" rating and set a $400.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Finally, Truist Financial set a $385.00 price objective on Alphabet in a research report on Wednesday, April 22nd. Six equities research 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 company presently has a consensus rating of "Buy" and a consensus price target of $363.40.

Alphabet 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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