Allstate Corp Raises Stock Position in Alphabet Inc. $GOOG

Allstate Corp raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 108.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 372,429 shares of the information services provider’s stock after acquiring an additional 193,895 shares during the period. Alphabet accounts for 1.6% of Allstate Corp’s holdings, making the stock its 15th biggest holding. Allstate Corp’s holdings in Alphabet were worth $116,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Imprint Wealth LLC purchased a new stake in shares of Alphabet in the third quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet during the fourth quarter worth about $38,000. Towne Trust Company N.A raised its position in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares in the last quarter. Winnow Wealth LLC acquired a new position in Alphabet in the third quarter valued at approximately $63,000. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Alphabet by 29.0% in the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 58 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 193,016 shares of company stock valued at $17,282,549. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.8%

Shares of GOOG stock opened at $355.68 on Thursday. Alphabet Inc. has a 1-year low of $163.33 and a 1-year high of $404.47. The company has a market cap of $4.31 trillion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a 50 day simple moving average of $346.94 and a 200-day simple moving average of $326.15.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.81 EPS. On average, equities research analysts expect that Alphabet Inc. will post 14.28 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. This is a boost 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 dividend payout ratio is presently 6.41%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet expanded its collaboration with Google Cloud and Lovable in a multi-year deal, reinforcing demand for Google Cloud infrastructure and AI tools. Lovable Expands Collaboration With Google Cloud to Scale AI-Powered Software Creation
• Positive Sentiment: Multiple reports highlighted strong investor appetite for Alphabet’s AI expansion, including an upsized equity raise to $84.75 billion and Berkshire Hathaway’s planned $10 billion participation, which signals outside confidence in the company’s AI strategy. Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
• Positive Sentiment: Alphabet said its Gemini AI app has reached 900 million users, underscoring momentum in its consumer AI products and supporting the long-term growth story. Alphabet’s Gemini AI App Surges to 900 Million Users
• Neutral Sentiment: Analysts remain broadly constructive, with several firms reiterating buy ratings and price targets around the low-to-mid $400s, suggesting Wall Street still sees upside despite recent volatility. Google to See Variable Margins, Cloud Segment Growth Through 2028, UBS Says
• Negative Sentiment: UK regulators imposed new conduct requirements on Google Search, including letting publishers opt out of AI search features and model training, which could weaken the economics of AI Overviews and increase regulatory pressure. UK regulator enforces new competition requirements for Google search
• Negative Sentiment: Investors also appear uneasy about the scale of Alphabet’s AI spending plans, since the huge capital raise raises dilution concerns and suggests heavy infrastructure costs ahead. Alphabet plans to raise $80 billion to pay for AI buildout

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. UBS Group reissued a “neutral” rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Sanford C. Bernstein restated a “market perform” rating and set a $345.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $376.00.

Alphabet Company 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.