Magellan Asset Management Ltd Has $145.37 Million Holdings in Alphabet Inc. $GOOG

Magellan Asset Management Ltd lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 463,264 shares of the information services provider’s stock after selling 30,107 shares during the period. Alphabet comprises 1.8% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 25th largest holding. Magellan Asset Management Ltd’s holdings in Alphabet were worth $145,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Regency Capital Management Inc. DE purchased a new position in Alphabet during the 4th quarter valued at about $1,262,000. Sittner & Nelson LLC grew its stake in Alphabet by 0.6% during the 4th quarter. Sittner & Nelson LLC now owns 22,861 shares of the information services provider’s stock valued at $7,386,000 after acquiring an additional 134 shares in the last quarter. Verus Capital Partners LLC grew its stake in Alphabet by 1.1% during the 4th quarter. Verus Capital Partners LLC now owns 36,914 shares of the information services provider’s stock valued at $11,584,000 after acquiring an additional 410 shares in the last quarter. Platform Wealth Management LLC purchased a new position in Alphabet during the 4th quarter valued at about $25,769,000. Finally, TD Asset Management Inc grew its stake in Alphabet by 0.3% during the 4th quarter. TD Asset Management Inc now owns 4,238,699 shares of the information services provider’s stock valued at $1,330,104,000 after acquiring an additional 13,612 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 193,016 shares of company stock valued at $17,282,549. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 2.5%

Shares of GOOG stock opened at $353.32 on Thursday. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. 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 business’s 50 day moving average is $355.05 and its two-hundred day moving average is $328.84. The company has a market cap of $4.28 trillion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. 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 the consensus estimate of $106.96 billion. During the same quarter last year, the company posted $2.81 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial set a $430.00 target price on Alphabet in a research note on Monday, June 1st. JPMorgan Chase & Co. lifted their target price on Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Needham & Company LLC set a $400.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, March 13th. UBS Group reaffirmed a “neutral” rating and set a $348.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $376.78.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is expanding Gemini with new tools aimed at small businesses, which could help broaden adoption and monetize AI services. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Alphabet’s support for Anthropic’s $35 billion AI infrastructure financing deal reinforces its central role in AI buildout and could boost cloud demand. Google Backs $35 Billion Anthropic AI Infrastructure Financing Deal
• Positive Sentiment: Reports that Gemini monthly users have doubled highlight strong product momentum and strengthen the long-term AI growth story. Alphabet Inc. (GOOGL) Reports Doubling of Gemini App Monthly Users to 900 Million
• Neutral Sentiment: Google’s reported $920 million-per-month AI compute deal with SpaceX may support future growth, but it also signals rising infrastructure spending and AI competition costs. Google’s $920 Million-a-Month Deal Could Supercharge the SpaceX IPO
• Negative Sentiment: A fire at a third-party data center caused intermittent Google Cloud disruptions in India, which could raise reliability concerns for some customers. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Google’s request for a new trial in the youth social media addiction case, leaving legal liability concerns in place. Meta and Google denied new trial after landmark verdict in youth social media addiction case

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.