Fiduciary Alliance LLC Sells 4,749 Shares of Alphabet Inc. $GOOGL

Fiduciary Alliance LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,653 shares of the information services provider’s stock after selling 4,749 shares during the period. Alphabet makes up 1.4% of Fiduciary Alliance LLC’s portfolio, making the stock its 10th biggest position. Fiduciary Alliance LLC’s holdings in Alphabet were worth $22,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EMC Capital Management acquired a new position in Alphabet in the 4th quarter worth $33,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the 4th quarter valued at about $32,000. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $52,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, which boosted demand for the shares and highlighted the company’s growing importance in AI and large-cap tech. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Several reports pointed to bullish Wall Street views, including a higher price target from analysts and commentary that Alphabet remains a strong long-term growth stock. Alphabet Replaces Verizon In Dow Jones As Analyst Boosts Target To $415
• Positive Sentiment: Google introduced Nano Banana 2 Lite, a faster and cheaper AI image/video generator, which may strengthen its competitive position in generative AI. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signed on to use the OpenUSD stablecoin for money movement, expanding Alphabet’s presence in digital payments and emerging commerce infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: One director disclosed a small stock sale, which is routine and not large enough to signal a major change in fundamentals. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: UK regulators are targeting Apple and Google app-store fees and payment restrictions, which could pressure Alphabet’s services revenue and app platform economics if rules are tightened. UK targets Apple, Google app store fees for developers
• Negative Sentiment: Some AI-related headlines noted talent loss to rivals and ongoing concerns about regulatory and AI-related risks, which may limit upside enthusiasm near term. Google hit by new AI brain drain as Anthropic poaches top Gemini talent

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’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 transaction of $2,077,531.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 151,467 shares of company stock worth $4,877,600. Company insiders own 11.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GOOGL shares. China Renaissance increased their price objective on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price (up from $375.00) on shares of Alphabet in a research note on Tuesday. Royal Bank Of Canada set a $425.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Bank of America raised 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. Finally, Cantor Fitzgerald lifted their price objective on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.90.

Alphabet Stock Performance

Shares of GOOGL stock opened at $357.37 on Wednesday. The company has a fifty day moving average price of $369.61 and a two-hundred day moving average price of $333.53. Alphabet Inc. has a one year low of $172.77 and a one year high of $408.61. The stock has a market cap of $4.33 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.51 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.

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

Alphabet Increases Dividend

The firm also recently declared 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 was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is 6.71%.

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.