Alphabet Inc. $GOOGL Stock Position Lowered by Floyd Financial Group LLC

Floyd Financial Group LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,556 shares of the information services provider’s stock after selling 4,319 shares during the quarter. Alphabet makes up about 5.1% of Floyd Financial Group LLC’s portfolio, making the stock its 4th biggest holding. Floyd Financial Group LLC’s holdings in Alphabet were worth $7,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Retirement Advice LLC acquired a new stake in Alphabet in the 4th quarter valued at $632,000. Drake & Associates LLC raised its position in Alphabet by 1.5% in the fourth quarter. Drake & Associates LLC now owns 3,649 shares of the information services provider’s stock valued at $1,142,000 after purchasing an additional 55 shares during the period. GuidedMoney LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $470,000. Beaird Harris Wealth Management LLC boosted its position in shares of Alphabet by 10.5% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 4,684 shares of the information services provider’s stock worth $1,466,000 after buying an additional 447 shares during the period. Finally, Wealth Preservation Advisors LLC grew its stake in shares of Alphabet by 1.1% in the fourth quarter. Wealth Preservation Advisors LLC now owns 7,795 shares of the information services provider’s stock valued at $2,440,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $368.48 on Friday. The firm has a 50-day moving average price of $367.04 and a 200 day moving average price of $331.95. The firm has a market capitalization of $4.46 trillion, a PE ratio of 28.11, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was 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%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being viewed as a major AI winner thanks to ongoing investment in AI infrastructure and data centers, which could support future cloud and AI revenue growth. Article Title
• Positive Sentiment: Reports that Berkshire Hathaway nearly tripled its Alphabet position may be seen as a strong vote of confidence from a major long-term investor. Article Title
• Positive Sentiment: Coverage emphasizing Alphabet’s strong earnings and expanding Google Cloud backlog supports the case for continued fundamental improvement. Article Title
• Neutral Sentiment: Alphabet’s stock is drawing increased investor attention and analyst commentary, but these are mostly sentiment-driven mentions rather than new company-specific catalysts. Article Title
• Negative Sentiment: Noam Shazeer, a top Google DeepMind/Gemini AI leader, is leaving for OpenAI, underscoring the competitive AI talent war. Article Title
• Negative Sentiment: John Jumper is also departing Google DeepMind for Anthropic, adding to concerns that Alphabet may be losing key AI researchers. Article Title
• Negative Sentiment: Waymo’s recall of nearly 3,900 robotaxis after construction-zone driving errors raises safety and regulatory concerns for Alphabet’s autonomous vehicle business. Article Title
• Negative Sentiment: The UK ordering Google to improve search-ranking transparency highlights continued regulatory scrutiny over its core search business. Article Title

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,516 shares of company stock valued at $7,344,604 over the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Canaccord Genuity Group upped their price target on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Robert W. Baird increased their price objective on shares of Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Roth Mkm reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Two investment 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.