First Manhattan CO. LLC. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,191,392 shares of the information services provider’s stock after selling 85,148 shares during the period. Alphabet comprises approximately 3.5% of First Manhattan CO. LLC.’s holdings, making the stock its 4th largest position. First Manhattan CO. LLC.’s holdings in Alphabet were worth $1,315,259,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC increased its position in Alphabet by 76.2% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after purchasing an additional 806,681 shares during the period. Darwin Wealth Management LLC purchased a new position in Alphabet during the 2nd quarter valued at about $658,000. Financial Advisors Network Inc. increased its position in Alphabet by 7.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after purchasing an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. increased its position in Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after purchasing an additional 3,616 shares during the period. Institutional investors own 27.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on GOOG shares. TD Cowen raised their target price on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Oppenheimer raised their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Finally, Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $376.78.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director owned 2,531 shares of the company’s stock, valued at $995,341.06. The trade was a 29.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 159,466 shares of company stock worth $6,957,543. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Down 2.4%
Shares of Alphabet stock opened at $362.10 on Thursday. The firm’s 50 day moving average price is $361.98 and its 200-day moving average price is $330.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The company has a market cap of $4.39 trillion, a P/E ratio of 27.62, a PEG ratio of 1.59 and a beta of 1.22.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Negative Sentiment: Britain’s competition watchdog set new requirements for Google Search, demanding greater transparency in ranking results and fairer treatment for businesses, adding to global regulatory scrutiny that could pressure Alphabet’s core search business. UK regulator sets out conduct requirements for Google’s search services
- Negative Sentiment: Analyst commentary remains cautious, with concerns about Alphabet’s high AI spending, heavy capital expenditures, competition, and valuation limiting enthusiasm despite strong growth prospects. AI Spending Is Strengthening the Alphabet (GOOGL) Bull Case
- Neutral Sentiment: Alphabet showcased more AI momentum at the G7, where Google DeepMind’s Demis Hassabis backed a U.S.-led AI coalition, reinforcing the company’s influence in frontier AI policy and investment discussions. CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
- Neutral Sentiment: Google also launched Android 17 and a new Gemini-focused smart speaker, highlighting ongoing product innovation that could support long-term ecosystem growth but is not an immediate earnings catalyst. Google bets on Gemini to reinvent the smart home speaker
- Positive Sentiment: HSBC expanded its partnership with Google Cloud to grow AI usage, a sign that Alphabet’s cloud and enterprise AI business continues to gain traction with major customers. HSBC partners with Google Cloud to expand AI usage
- Positive Sentiment: Alphabet is also expanding its physical and digital footprint, including a $1.5 billion Alabama data center investment and new Google-supported initiatives, which support the company’s AI infrastructure buildout. Alphabet (GOOGL) to Spend $1.5 Billion Expanding Alabama Data Center
Alphabet 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.
Further Reading
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