Comerica Bank Has $397.80 Million Stock Position in Alphabet Inc. $GOOGL

Comerica Bank decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,270,924 shares of the information services provider’s stock after selling 91,064 shares during the period. Alphabet comprises 1.6% of Comerica Bank’s portfolio, making the stock its 7th largest holding. Comerica Bank’s holdings in Alphabet were worth $397,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PMV Capital Advisers LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Alphabet during the third quarter valued at approximately $53,000. Kentucky Trust Co grew its holdings in shares of Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after buying an additional 100 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Alphabet during the third quarter valued at approximately $53,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $63,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.1%

Shares of GOOGL stock opened at $396.78 on Friday. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $403.70. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $329.30 and its 200 day moving average is $317.27. The stock has a market capitalization of $4.81 trillion, a P/E ratio of 30.27, a P/E/G ratio of 1.70 and a beta of 1.26.

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

Alphabet Increases Dividend

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

Insider Buying and Selling

In related news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total value of $37,842.00. Following the sale, the director owned 18,621 shares in the company, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 1,642,060 shares in the company, valued at $505,573,853.40. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 157,953 shares of company stock valued at $47,767,818 in the last ninety days. Corporate insiders own 11.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Mizuho increased their price target on shares of Alphabet from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Guggenheim reiterated a “buy” rating and set a $450.00 price target (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. DA Davidson increased their price target on shares of Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Argus increased their price target on shares of Alphabet from $365.00 to $385.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, HSBC increased their price target on shares of Alphabet from $385.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $410.84.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
• Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
• Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
• Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
• Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
• Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
• Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
• Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article

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.