Lyell Wealth Management LP reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 7.5% in the fourth quarter, Holdings Channel reports. The firm owned 85,356 shares of the information services provider’s stock after selling 6,965 shares during the period. Alphabet comprises approximately 1.9% of Lyell Wealth Management LP’s holdings, making the stock its 10th biggest position. Lyell Wealth Management LP’s holdings in Alphabet were worth $26,785,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Marest Capital LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $888,000. Stirlingshire Investments Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $924,000. Cornerstone Advisors Asset Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $206,000. ARK Investment Management LLC grew its position in shares of Alphabet by 61.1% during the 4th quarter. ARK Investment Management LLC now owns 545,892 shares of the information services provider’s stock valued at $171,301,000 after purchasing an additional 206,936 shares in the last quarter. Finally, Legacy Capital Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $4,857,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 1st. Truist Financial set a $430.00 price target on shares of Alphabet in a research report on Monday, June 1st. Oppenheimer upped their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $435.00 target price on shares of Alphabet in a research report on Tuesday, June 2nd. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $376.78.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction 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. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction 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 sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last three months. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Up 0.9%
Shares of NASDAQ:GOOG opened at $356.56 on Friday. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The firm has a fifty day moving average of $356.44 and a 200 day moving average of $329.24. The firm has a market capitalization of $4.32 trillion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period in the previous year, the business earned $2.81 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. This is a boost 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 of this dividend is Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet shareholders approved an expansion of the company’s stock plan and re-elected the board, a routine but shareholder-friendly governance update that signals continuity and support for management. Alphabet Shareholders Approve Stock Plan Expansion, Reelect Board
- Positive Sentiment: Waymo, Alphabet’s self-driving unit, launched a $29.99 monthly “Premier” subscription and added perks like cash back and free cancellations, suggesting Alphabet is still pushing to monetize robotaxi demand in high-usage markets. Waymo launches premier subscription tier
- Positive Sentiment: Alphabet is expanding its AI footprint through new Google chip plans and continued infrastructure support for Anthropic, reinforcing the view that Google Cloud and its AI ecosystem could benefit from long-term demand. Google in talks with Samsung to make next-generation chips
- Positive Sentiment: Several reports highlighted bullish analyst and investor sentiment, including higher earnings estimates and Alphabet’s continued status as a favored large-cap AI name. Analyst estimate updates and AI-stock commentary
- Neutral Sentiment: Google said it identified an active cyber extortion campaign targeting Oracle PeopleSoft users via a ShinyHunters exploit; the issue appears to be a threat-intelligence update rather than a direct breach of Alphabet systems. Google says ShinyHunters hackers targeting education sector via Oracle exploit
- Neutral Sentiment: Alphabet’s Gemini and AI Overview products drew more scrutiny, including reports of search/AI controversy and temporary Workspace AI errors, which may keep debate alive around product quality and AI monetization. Google Stock Drops as AI Overview Faces Fresh Controversy
- Negative Sentiment: Investor concern remains centered on heavy capex and how quickly Alphabet can turn AI spending into durable revenue, especially as some commentary questioned search monetization and data-center economics. Alphabet Stock Opinions on Capital Raise and AI Challenges
- Negative Sentiment: A California judge denied a new trial in the youth social media addiction case involving YouTube, leaving Alphabet exposed to ongoing legal and reputational risk. Meta and Google denied new trial after landmark verdict
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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