Brasada Capital Management LP Sells 4,864 Shares of Alphabet Inc. $GOOGL

Brasada Capital Management LP decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,827 shares of the information services provider’s stock after selling 4,864 shares during the quarter. Alphabet comprises about 5.2% of Brasada Capital Management LP’s investment portfolio, making the stock its biggest position. Brasada Capital Management LP’s holdings in Alphabet were worth $30,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares during the last quarter. State Street Corp boosted its holdings in Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after acquiring an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the last quarter. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at $30,534,239,000. Finally, Capital World Investors boosted its holdings in Alphabet by 1.5% in the fourth quarter. Capital World Investors now owns 53,881,908 shares of the information services provider’s stock valued at $16,865,158,000 after acquiring an additional 774,336 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was 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 of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director directly owned 18,721 shares in the company, valued at approximately $7,132,701. The trade was a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,016 shares of company stock valued at $17,282,549 over the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GOOGL shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $435.00 target price (up from $427.00) on shares of Alphabet in a report on Wednesday, May 20th. Royal Bank Of Canada set a $425.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Thursday, April 30th. Daiwa Securities Group raised their price objective on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Citizens Jmp reaffirmed a “market outperform” rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus set a $420.00 target price on Alphabet and gave the stock a “buy” rating in a research 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Trending Headlines about Alphabet

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 Performance

Shares of NASDAQ GOOGL opened at $359.68 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $360.45 and a 200-day simple moving average of $330.26. The company has a market cap of $4.36 trillion, a PE ratio of 27.44, a P/E/G ratio of 1.54 and a beta of 1.23. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

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

Alphabet Company 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.