Alphabet Inc. $GOOG Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. cut its position in Alphabet Inc. (NASDAQ:GOOG) by 48.3% during the fourth quarter, Holdings Channel reports. The firm owned 7,500 shares of the information services provider’s stock after selling 7,000 shares during the period. Olstein Capital Management L.P.’s holdings in Alphabet were worth $2,354,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of GOOG. Tradewinds LLC. boosted its stake in shares of Alphabet by 2,134.8% in the third quarter. Tradewinds LLC. now owns 45,098 shares of the information services provider’s stock worth $10,984,000 after buying an additional 43,080 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock worth $9,381,000 after buying an additional 2,341 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Alphabet by 31.3% in the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider’s stock worth $86,345,000 after buying an additional 84,553 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock worth $53,920,000 after buying an additional 2,009 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Alphabet by 7.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock worth $19,060,000 after buying an additional 4,239 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman’s Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 47,574 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the completion of the transaction, the insider owned 13,227 shares of the company’s stock, valued at $3,987,279.15. This represents a 78.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the transaction, the director directly owned 3,581 shares of the company’s stock, valued at $1,187,638.65. The trade was a 22.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 157,953 shares of company stock valued at $47,767,818. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. DZ Bank upgraded Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. Raymond James Financial restated a “strong-buy” rating and issued a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Oppenheimer upped their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Finally, TD Cowen upped their target price on Alphabet from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Six investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $363.40.

Alphabet Price Performance

Shares of Alphabet stock opened at $393.32 on Friday. The business has a 50 day simple moving average of $327.44 and a two-hundred day simple moving average of $316.98. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $399.93. The stock has a market capitalization of $4.77 trillion, a P/E ratio of 30.00, a PEG ratio of 1.68 and a beta of 1.25. 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 (NASDAQ:GOOG) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the prior year, the firm earned $2.81 earnings per share. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s payout ratio is currently 6.41%.

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.