Alphabet Inc. $GOOGL is Beese Fulmer Investment Management Inc.’s 6th Largest Position

Beese Fulmer Investment Management Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 153,864 shares of the information services provider’s stock after purchasing an additional 1,880 shares during the period. Alphabet makes up about 2.8% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 6th largest position. Beese Fulmer Investment Management Inc.’s holdings in Alphabet were worth $48,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC purchased a new position in Alphabet in the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Alphabet in the 3rd quarter worth approximately $53,000. Kentucky Trust Co grew its position in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares during the period. iSAM Funds UK Ltd bought a new stake in Alphabet in the 3rd quarter worth approximately $53,000. Finally, Sellwood Investment Partners LLC bought a new stake in Alphabet in the 3rd quarter worth approximately $63,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on GOOGL shares. BNP Paribas Exane lifted their target price on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. New Street Research lifted their target price on shares of Alphabet from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wedbush lifted their target price on shares of Alphabet from $360.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. The Goldman Sachs Group lifted their target price on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Arete Research lifted their target price on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $413.04.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 193,016 shares of company stock worth $17,282,549. 11.61% of the stock is currently owned by corporate insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet raised its capital plan to $84.75 billion to fund AI infrastructure and cloud capacity, signaling it expects strong demand for compute and is willing to invest heavily to protect and grow its long-term AI position. Reuters article
• Positive Sentiment: Apple reportedly tapped Google Cloud to help power a revamped Siri, which could add a high-profile customer for Alphabet’s cloud business and reinforce its AI infrastructure monetization story. PYMNTS article
• Positive Sentiment: Lovable expanded its multi-year Google Cloud relationship, another sign that Google Cloud is winning AI-related usage and customer growth. TechCrunch article
• Positive Sentiment: Needham reiterated a buy rating and a $450 price target, reflecting continued analyst confidence in Alphabet’s cloud and AI growth potential. Benzinga article
• Neutral Sentiment: Several prominent investors, including Berkshire Hathaway and ARK, were reported as buying Alphabet shares, which supports sentiment but does not change fundamentals on its own. Barron’s article
• Neutral Sentiment: Alphabet also received a softer-than-feared UK antitrust ruling that requires new conduct changes and lets publishers opt out of AI training, which may limit some data use but reduces the risk of a harsher regulatory outcome. Reuters article
• Negative Sentiment: Reports that Google is quietly laying off staff in Cloud, including parts of its cybersecurity team, may weigh on sentiment by raising questions about cost discipline and internal restructuring. Business Insider article

Alphabet Trading Up 3.7%

Shares of Alphabet stock opened at $372.19 on Friday. The company’s fifty day simple moving average is $351.15 and its 200-day simple moving average is $327.52. The stock has a market capitalization of $4.51 trillion, a PE ratio of 28.39, a P/E/G ratio of 1.58 and a beta of 1.23. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61. 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 (NASDAQ:GOOGL) 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 return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 14.28 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. 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. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

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.