Alphabet Inc. $GOOGL Shares Sold by Forum Financial Management LP

Forum Financial Management LP cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 32.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,436 shares of the information services provider’s stock after selling 45,600 shares during the quarter. Alphabet makes up approximately 0.4% of Forum Financial Management LP’s portfolio, making the stock its 20th biggest position. Forum Financial Management LP’s holdings in Alphabet were worth $27,444,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOGL. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY raised its position in Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after acquiring an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares during the period. Finally, United Bank boosted its stake in shares of Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after acquiring an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $366.46 on Tuesday. Alphabet Inc. has a one year low of $172.77 and a one year high of $408.61. The company has a 50-day moving average of $371.05 and a two-hundred day moving average of $334.60. The stock has a market cap 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 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 results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business 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%. On average, equities research analysts expect that Alphabet Inc. will post 14.32 earnings per share 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 given 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 payout ratio is presently 6.71%.

Alphabet News Roundup

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.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. BMO Capital Markets raised their price target on Alphabet from $410.00 to $435.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Sanford C. Bernstein restated a “market perform” rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. BNP Paribas Exane increased their price target on Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research note on Wednesday, June 3rd. Finally, CICC Research raised their target price on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $413.54.

Insider Buying and Selling

In other 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 value of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,465 shares of company stock worth $8,020,511 over the last ninety days. 11.61% of the stock is currently owned by corporate insiders.

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.