Alphabet Inc. $GOOGL Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,540 shares of the information services provider’s stock after selling 1,879 shares during the period. Alphabet makes up about 1.3% of Wellington Shields & Co. LLC’s holdings, making the stock its 12th largest position. Wellington Shields & Co. LLC’s holdings in Alphabet were worth $5,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Brighton Jones LLC increased 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 purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth 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 in the last quarter. Matrix Asset Advisors Inc. NY increased its position in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank increased its position in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after purchasing an additional 3,120 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director directly owned 18,721 shares in the company, valued at $7,132,701. This represents a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 193,016 shares of company stock worth $17,282,549 in the last three months. Company insiders own 11.61% of the company’s stock.

Alphabet News Roundup

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

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $393.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Wolfe Research lowered their price target on Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Citigroup reissued an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Rothschild & Co Redburn raised their price target on Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Truist Financial set a $430.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $413.13.

Alphabet Stock Performance

NASDAQ GOOGL 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 business’s 50-day moving average price is $354.35 and its 200 day moving average price is $328.67. The firm has a market cap of $4.40 trillion, a P/E ratio of 27.71, a P/E/G ratio of 1.58 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.41%.

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.