Alphabet Inc. $GOOGL Shares Sold by BLKBRD Asset Management LP

BLKBRD Asset Management LP decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 80.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,679 shares of the information services provider’s stock after selling 56,158 shares during the quarter. Alphabet accounts for about 5.8% of BLKBRD Asset Management LP’s investment portfolio, making the stock its 5th largest holding. BLKBRD Asset Management LP’s holdings in Alphabet were worth $4,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares during the last quarter. State Street Corp lifted its stake 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 buying an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 2,666,676 shares during the last quarter. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at $30,534,239,000. Finally, Capital World Investors increased its holdings in shares of Alphabet by 1.5% during 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 purchasing an additional 774,336 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. Bank of America upped their price target on shares of Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $390.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Roth Mkm reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, April 30th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $515.00 price target on shares of Alphabet in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.13.

Alphabet Trading Up 1.1%

Shares of NASDAQ GOOGL opened at $373.25 on Wednesday. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The firm has a market capitalization of $4.52 trillion, a PE ratio of 28.47, a PEG ratio of 1.58 and a beta of 1.23. 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 business has a 50-day moving average price of $363.48 and a two-hundred day moving average price of $331.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $106.98 billion. As a group, analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.71%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 159,466 shares of company stock worth $6,957,543. 11.61% of the stock is currently owned by company insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand its AI capabilities, reinforcing Alphabet’s cloud momentum and potential enterprise revenue growth. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google released Android 17 and Wear OS 7, while also adding new Gemini AI features and Pixel device upgrades, highlighting continued product innovation and deeper AI integration across its ecosystem. Android 17 launches with new multitasking tools as Google expands Gemini features
• Positive Sentiment: Google Cloud also landed a strategic partnership with Ineffable Intelligence, another sign that enterprises and AI startups are choosing Alphabet’s infrastructure for frontier AI development. Ineffable Intelligence Selects Google Cloud To Power Its Superintelligence Mission
• Neutral Sentiment: Several recent commentary pieces continued to frame Alphabet as a favorite large-cap AI name and a possible long-term winner, which may be supporting investor sentiment but does not reflect a new fundamental announcement. Alphabet: Still A Big Tech Pick To ‘Buy’ Now
• Neutral Sentiment: Google’s disclosure about Chinese-linked hackers targeting research facilities underscores its cybersecurity and threat-detection role, but the story is more about security awareness than a direct business driver. Chinese-linked hackers targeted U.S.,Canadian research facilities for a year, Google says
• Negative Sentiment: A separate report noted a small student walkout and boos during CEO Sundar Pichai’s Stanford commencement appearance, which is unlikely to affect fundamentals but adds a minor reputational headwind. Sundar Pichai faces boos, walkout at Stanford graduation ceremony over Google’s Israel, ICE ties

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.