Adams Diversified Equity Fund Inc. Has $167.61 Million Holdings in Alphabet Inc. $GOOGL

Adams Diversified Equity Fund Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 535,500 shares of the information services provider’s stock after purchasing an additional 2,500 shares during the period. Alphabet accounts for approximately 5.6% of Adams Diversified Equity Fund Inc.’s holdings, making the stock its 4th largest position. Adams Diversified Equity Fund Inc.’s holdings in Alphabet were worth $167,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Norges Bank bought a new position in Alphabet during the fourth quarter worth about $30,534,239,000. Berkshire Hathaway Inc bought a new position in Alphabet during the third quarter worth about $4,338,397,000. Cardano Risk Management B.V. grew its holdings in Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the period. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Finally, Capital World Investors grew its holdings in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $393.00 price target on shares of Alphabet in a report on Thursday, May 21st. Rothschild & Co Redburn lifted their price target on Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. BMO Capital Markets boosted their price objective on Alphabet from $410.00 to $435.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Bank of America boosted their price objective on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, CICC Research boosted their price objective on Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Activity

In related news, 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 value of $2,481,078.77. Following the sale, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 193,016 shares of company stock valued at $17,282,549. 11.61% of the stock is currently owned by insiders.

More Alphabet News

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 Stock Up 0.5%

Shares of GOOGL opened at $359.68 on Friday. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The company has a market cap of $4.36 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.54 and a beta of 1.23. 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 firm has a 50 day simple moving average of $360.45 and a two-hundred day simple moving average of $330.26.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. 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%. 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.