United Community Bank Reduces Stock Position in Alphabet Inc. $GOOGL

Key Points

• United Community Bank cut its Alphabet stake by 45.2% in the fourth quarter, selling 5,092 shares and leaving it with 6,184 shares worth about $1.94 million.
• Alphabet continues to draw strong Wall Street support, with several analysts raising price targets; the consensus rating remains Moderate Buy and the average target is about $410.84.
• The company reported better-than-expected quarterly results and also raised its dividend to $0.22 per share, while recent insider sales and some competitive/valuation concerns provided mixed signals.

United Community Bank lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 45.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,184 shares of the information services provider's stock after selling 5,092 shares during the period. United Community Bank's holdings in Alphabet were worth $1,936,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Boyer Financial Services Inc. purchased a new stake in Alphabet during the 4th quarter valued at about $370,000. KTF Investments LLC purchased a new stake in Alphabet during the 4th quarter valued at about $29,845,000. Oakworth Capital Inc. grew its position in Alphabet by 0.4% during the 4th quarter. Oakworth Capital Inc. now owns 27,402 shares of the information services provider's stock valued at $8,577,000 after purchasing an additional 113 shares during the last quarter. Urban Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $5,257,000. Finally, Wealthfront Advisers LLC grew its position in Alphabet by 7.7% during the 4th quarter. Wealthfront Advisers LLC now owns 805,215 shares of the information services provider's stock valued at $252,032,000 after purchasing an additional 57,606 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. Loop Capital increased their price objective on shares of Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research report on Friday. BNP Paribas Exane raised their price target on shares of Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. DA Davidson raised their price target on shares of Alphabet from $300.00 to $310.00 and gave the company a "neutral" rating in a report on Thursday, February 5th. Argus raised their price target on shares of Alphabet from $365.00 to $385.00 and gave the company a "buy" rating in a report on Friday, February 6th. Finally, BMO Capital Markets raised their price target on shares of Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $410.84.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares of the company's stock, valued at approximately $6,908,391. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction on 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 157,953 shares of company stock valued at $47,767,818. Insiders own 11.61% of the company's stock.

Alphabet Stock Down 1.1%

NASDAQ GOOGL opened at $396.78 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $329.30 and a two-hundred day moving average of $317.27. The firm has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 30.27, a PEG ratio of 1.70 and a beta of 1.26. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $403.70.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business 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 is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's payout ratio is presently 6.41%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
• Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
• Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
• Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
• Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
• Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
• Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
• Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article

About Alphabet

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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