Novare Capital Management LLC Decreases Stake in Alphabet Inc. $GOOGL

Novare Capital Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,236 shares of the information services provider’s stock after selling 22,187 shares during the period. Alphabet comprises about 3.4% of Novare Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Novare Capital Management LLC’s holdings in Alphabet were worth $42,914,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Alphabet by 2.4% during the fourth 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 grew its position in shares of Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares during the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $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 buying an additional 3,218,852 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here’s Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Insider Activity

In related news, Director Frances Arnold sold 102 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 151,523 shares of company stock worth $4,863,526 over the last 90 days. Insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $337.39 on Friday. The business’s 50 day moving average price is $368.94 and its 200-day moving average price is $332.88. Alphabet Inc. has a fifty-two week low of $171.73 and a fifty-two week high of $408.61. The company has a market cap of $4.09 trillion, a P/E ratio of 25.74, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

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. 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%. Sell-side analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a boost 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 dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Canaccord Genuity Group raised their price target on Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Dbs Bank increased their target price on Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Rothschild & Co Redburn raised their target price on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company restated an “overweight” rating and issued a $435.00 price target (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Finally, New Street Research upped their price target on shares of Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Two equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $413.13.

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.