Triple Frond Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 353,459 shares of the information services provider's stock after selling 197,415 shares during the period. Alphabet accounts for approximately 11.5% of Triple Frond Partners LLC's investment portfolio, making the stock its 4th biggest holding. Triple Frond Partners LLC's holdings in Alphabet were worth $110,915,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Vistica Wealth Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $268,000. Tillman Hartley LLC grew its position in Alphabet by 11.6% during the 4th quarter. Tillman Hartley LLC now owns 5,362 shares of the information services provider's stock worth $1,683,000 after purchasing an additional 556 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after purchasing an additional 2,850 shares during the period. SVRN Asset Management LLC acquired a new stake in Alphabet during the 4th quarter worth about $659,000. Finally, Concorde Asset Management LLC grew its position in Alphabet by 8.7% during the 4th quarter. Concorde Asset Management LLC now owns 1,290 shares of the information services provider's stock worth $405,000 after purchasing an additional 103 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s drone-delivery unit Wing expanded into seven more U.S. cities with Walmart, reinforcing that its Other Bets can scale into real businesses and may be more valuable than the market gives them credit for.
- Positive Sentiment: Waymo launched a $29.99 monthly membership program, adding a recurring-revenue layer to its robotaxi business and highlighting rapid growth in paid rides, which investors may see as a meaningful long-term opportunity.
- Positive Sentiment: Several analyst and commentary pieces remain constructive on Alphabet’s AI, cloud, and search setup, with some calling it an AI powerhouse and lifting price targets, which supports the stock’s bullish narrative.
- Positive Sentiment: Google is also expanding its real-estate listings nationwide and continuing to deepen its AI infrastructure and chip strategy, reinforcing multiple growth avenues beyond search advertising.
- Neutral Sentiment: Google filed suit against an alleged Chinese cybercrime group that used AI to scam victims, a move that shows the company is actively defending its platforms, though the stock impact is likely limited unless the issue escalates.
- Neutral Sentiment: Alphabet declined a $2 billion U.S. quantum-computing funding program, saying the terms could slow development; that may be viewed as a strategic choice rather than a major financial event.
- Neutral Sentiment: News that some billionaire investors sold Alphabet in Q1 while others bought more adds to the debate, but it does not change the underlying business fundamentals by itself.
- Negative Sentiment: Some recent coverage continues to focus on worries about rising capital expenditures and AI monetization, which can pressure sentiment if investors fear Alphabet’s AI spending will take longer to pay off.
- Negative Sentiment: Alphabet’s AI Overview feature has also faced renewed controversy, adding another small overhang around search quality and user trust.
Alphabet Trading Up 0.4%
GOOG stock opened at $358.16 on Friday. The company's 50-day simple moving average is $357.71 and its 200-day simple moving average is $329.44. 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 Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The firm has a market cap of $4.34 trillion, a P/E ratio of 27.32, a PEG ratio of 1.53 and a beta of 1.22.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same period in the prior year, the company posted $2.81 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is currently 6.71%.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 8,993 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
GOOG has been the topic of several analyst reports. Scotiabank reaffirmed an "outperform" rating and set a $450.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a research report on Monday, June 1st. Pivotal Research reaffirmed a "buy" rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Needham & Company LLC set a $400.00 price target on Alphabet and gave the stock a "buy" rating in a research report on Friday, March 13th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Alphabet in a research report on Wednesday, May 20th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $376.78.
View Our Latest Stock Analysis on GOOG
About Alphabet
(
Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
