Alphabet Inc. $GOOGL is Summitry LLC’s 4th Largest Position

Summitry LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 348,766 shares of the information services provider’s stock after selling 14,695 shares during the period. Alphabet comprises about 4.5% of Summitry LLC’s holdings, making the stock its 4th largest position. Summitry LLC’s holdings in Alphabet were worth $109,164,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. PMV Capital Advisers LLC acquired a new stake in Alphabet during the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Alphabet during the 3rd quarter worth $53,000. Kentucky Trust Co raised its stake in Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after acquiring an additional 100 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in Alphabet during the 3rd quarter worth $53,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Alphabet during the 4th quarter worth $69,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Evercore lifted their price target on shares of Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research note on Monday, February 16th. Royal Bank Of Canada set a $425.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Mizuho lifted their price target on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Two research 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 company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the transaction, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 193,016 shares of company stock valued at $17,282,549. Insiders own 11.61% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s long-term AI opportunity remains a major bullish theme, with analysts arguing the company’s heavy investment could support future revenue growth and strengthen its competitive position in search, cloud, and AI. Alphabet: CapEx Pressure Is Real, But The Long-Term AI Opportunity Is Bigger
• Positive Sentiment: Alphabet continues to benefit from broader AI enthusiasm, including reports that Apple is turning to Google for help with its AI overhaul and that Google’s cloud and AI capabilities are being tied to major customer wins and partnerships. Apple tries again on AI, turns to Google for help
• Positive Sentiment: Waymo remains a strategic asset for Alphabet, with new robotaxi-related developments highlighting the unit’s leadership in autonomous driving and potential to unlock long-term value. Uber, Wayve and Waymo are headed towards a robotaxi showdown in London
• Neutral Sentiment: Alphabet is drawing investor attention after its latest earnings results showed strong quarterly performance, including earnings and revenue that beat expectations, which helps support the stock’s long-term valuation. Alphabet Inc. (GOOGL) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Alphabet’s dividend and other capital-return details are also getting attention, but these are unlikely to be the main driver of the stock’s move today. Google to pay dividends next week; Here’s how much 100 GOOGL shares will earn
• Negative Sentiment: Shares are sliding because investors appear worried that Alphabet’s expanding AI spending could pressure margins and require more capital than expected before those investments pay off. What’s Going On With Alphabet Stock?
• Negative Sentiment: Recent market-wide volatility has also weighed on megacap tech stocks, adding to the weakness in Alphabet despite the company’s long-term AI story. Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade

Alphabet Trading Down 1.4%

Shares of Alphabet stock opened at $363.31 on Tuesday. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $354.35 and its 200-day simple moving average is $328.67. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is presently 6.41%.

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.