Ewa LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 33.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,239 shares of the information services provider’s stock after purchasing an additional 2,570 shares during the quarter. Alphabet accounts for about 0.7% of Ewa LLC’s portfolio, making the stock its 27th biggest position. Ewa LLC’s holdings in Alphabet were worth $2,944,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of GOOGL. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in 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 acquiring an additional 12,531,695 shares in the last quarter. State Street Corp lifted its stake in Alphabet by 1.8% in the 2nd 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after acquiring an additional 2,666,676 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE lifted its position in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock worth $21,630,861,000 after purchasing an additional 3,218,852 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several analyst reports. Wolfe Research cut their price target on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Robert W. Baird raised their target price on shares of Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. HSBC reaffirmed a “buy” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. The Goldman Sachs Group increased their price target on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research report on Monday, May 4th. Two equities research 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 MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $413.54.
Alphabet Stock Up 1.8%
GOOGL stock opened at $366.46 on Tuesday. 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 stock has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 27.95, a PEG ratio of 1.54 and a beta of 1.24. The business’s fifty day moving average price is $371.05 and its two-hundred day moving average price is $334.60. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) 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 company 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 analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. This is a positive change 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%.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Investors are highlighting Alphabet as a top AI stock, with billionaire Jeffrey Talpins reportedly naming it a preferred AI idea, reinforcing confidence in the company’s long-term AI upside. Alphabet Inc. (GOOGL) Is A Top AI Stock To Buy According To Billionaire Jeffrey Talpins
- Positive Sentiment: Google Cloud is being touted as a major growth engine, with commentary suggesting it may be “driving the train” for Alphabet thanks to strong cloud momentum and a large backlog, which supports the bull case for revenue and margin expansion. Is Google Cloud Officially Driving the Train?
- Positive Sentiment: Alphabet was featured as a “final trade” on CNBC, and several bullish pieces point to continued investor interest in the stock after strong gains over the past year. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC’s ‘Final Trades’
- Neutral Sentiment: Articles noting Alphabet’s strong stock performance and asking whether it is too late to buy may keep the stock in focus, but they mainly reflect momentum rather than a new fundamental catalyst. Down Over 10% From Its All-Time High, Is Now the Perfect Time to Buy Alphabet Stock?
- Negative Sentiment: Regulatory pressure remains a drag after Europe’s final €4.1 billion Android antitrust ruling, which adds to legal risk around Alphabet’s mobile and search ecosystem. Alphabet (GOOGL) Faces Final €4.1b Android Antitrust Ruling In Europe
- Negative Sentiment: Privacy-related reporting that Google is expanding AI training using user-uploaded media could raise user trust and regulatory concerns, even if it also supports AI model development. If you use Google, you’re training its AI. Here’s how to opt out.
Insiders Place Their Bets
In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’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 transaction of $387,061.50. Following the transaction, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is currently owned by insiders.
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.
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