Alphabet Inc. $GOOG Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,542,494 shares of the information services provider’s stock after selling 66,956 shares during the quarter. Alphabet comprises 2.3% of Resona Asset Management Co. Ltd.’s holdings, making the stock its 6th largest holding. Resona Asset Management Co. Ltd.’s holdings in Alphabet were worth $484,197,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOOG. Vanguard Group Inc. grew its holdings in Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares during the period. JPMorgan Chase & Co. grew its holdings in Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after acquiring an additional 7,904,434 shares during the period. Danske Bank A S acquired a new stake in Alphabet during the 3rd quarter worth $678,198,000. PFA Pension Forsikringsaktieselskab acquired a new stake in Alphabet during the 4th quarter worth $869,781,000. Finally, Holocene Advisors LP acquired a new position in shares of Alphabet in the 2nd quarter valued at $455,745,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 955 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the transaction, the chief accounting officer owned 9,918 shares in the company, valued at $2,955,564. This represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 226,481 shares of company stock worth $27,422,061 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3%

Shares of NASDAQ:GOOG opened at $386.12 on Friday. The company’s 50-day moving average price is $341.87 and its two-hundred day moving average price is $323.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a one year low of $163.33 and a one year high of $404.47. The stock has a market capitalization of $4.68 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.81 EPS. On average, equities analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOG shares. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a report on Monday, February 16th. TD Cowen reissued a “buy” rating on shares of Alphabet in a report on Thursday, May 21st. Scotiabank reissued an “outperform” rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average target price of $372.65.

About Alphabet

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.