Alphabet Inc. $GOOGL Shares Bought by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,319,039 shares of the information services provider’s stock after buying an additional 236,587 shares during the quarter. Alphabet makes up 8.0% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 2nd biggest holding. Atalanta Sosnoff Capital LLC’s holdings in Alphabet were worth $412,859,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in GOOGL. CIBC Bancorp USA Inc. acquired a new position in Alphabet in the third quarter valued at about $416,217,000. NewEdge Wealth LLC boosted its position in Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after buying an additional 93,293 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new position in Alphabet in the fourth quarter valued at about $28,902,000. Private Advisory Group LLC lifted its position in shares of Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock worth $7,736,000 after purchasing an additional 2,678 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Alphabet by 8.5% during the third quarter. AE Wealth Management LLC now owns 924,927 shares of the information services provider’s stock worth $224,850,000 after purchasing an additional 72,235 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the sale, the chief executive officer owned 1,642,060 shares of the company’s stock, valued at approximately $505,573,853.40. This represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 193,016 shares of company stock valued at $17,282,549. 11.61% of the stock is currently owned by insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Price Performance

Shares of Alphabet stock opened at $359.68 on Friday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. 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 50-day simple moving average of $360.45 and a two-hundred day simple moving average of $330.26. The stock has a market capitalization of $4.36 trillion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOOGL shares. President Capital boosted their price target on shares of Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wolfe Research dropped their price target on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. Susquehanna reiterated a “positive” rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Robert W. Baird increased their target price on shares of Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $413.13.

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.