Stockman Wealth Management Inc. Cuts Position in Alphabet Inc. $GOOGL

Key Points

• Stockman Wealth Management reduced its Alphabet position by 8.3% in the fourth quarter, selling 5,918 shares and leaving it with 65,722 shares valued at about $20.6 million.
• Alphabet reported better-than-expected quarterly results, with EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion versus expectations of $106.98 billion.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly positive with an average rating of “Moderate Buy” and an average price target of $407.86.

Stockman Wealth Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,722 shares of the information services provider's stock after selling 5,918 shares during the period. Alphabet comprises about 2.4% of Stockman Wealth Management Inc.'s portfolio, making the stock its 13th biggest position. Stockman Wealth Management Inc.'s holdings in Alphabet were worth $20,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Alphabet by 2.4% during 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 purchasing an additional 12,531,695 shares during the period. State Street Corp increased its position in shares of Alphabet by 1.8% during 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 acquiring an additional 4,008,374 shares during the period. Capital World Investors increased its position in shares of Alphabet by 28.0% during 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 during the period. Capital Research Global Investors increased its position in shares of Alphabet by 15.7% during 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 during the period. Finally, Invesco Ltd. increased its position in shares of Alphabet by 2.3% during the third quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider's stock worth $10,984,744,000 after acquiring an additional 1,034,292 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $401.07 on Friday. The stock has a market capitalization of $4.86 trillion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $403.70. The stock's 50-day moving average price is $327.43 and its 200 day moving average price is $316.71. 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 posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating 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 firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 14.29 EPS 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. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's payout ratio is 6.41%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being viewed as a major AI winner, with multiple reports highlighting strong demand for its infrastructure, cloud, and Gemini AI efforts as hyperscalers pour capital into AI. Hyperscalers Now Competing With US Treasury for Capital, Driving Up Government Borrowing Costs
• Positive Sentiment: Alphabet’s stock has been re-rated higher by the market, with analysts and commentators pointing to a stronger valuation profile and improved confidence in its earnings power. Why The Market Is Re-Rating Google Stock
• Positive Sentiment: Alphabet’s Google Pay partnership with Affirm could broaden monetization and make Google’s payments ecosystem more attractive to consumers and merchants. Affirm's Google Deal Aims for Your Wallet (GOOGL)
• Positive Sentiment: Reports say Alphabet is gaining momentum in government AI contracts, which could open a new high-value revenue stream and help diversify away from ads. Why Palantir Suddenly Looks Vulnerable After Google’s Move

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 47,574 shares of Alphabet stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares in the company, valued at $3,987,279.15. This trade represents a 78.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director owned 4,631 shares in the company, valued at $1,405,091.71. The trade was a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,953 shares of company stock worth $47,767,818 over the last quarter. 11.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. DA Davidson upped their price objective on Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research note on Tuesday, April 28th. Morgan Stanley upped their target price on shares of Alphabet from $330.00 to $375.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Citizens Jmp upped their target price on shares of Alphabet from $385.00 to $515.00 and gave the stock a "market outperform" rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $407.86.

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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