Alphabet Inc. $GOOG Stake Decreased by Channel Wealth LLC

Channel Wealth LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,170 shares of the information services provider’s stock after selling 4,342 shares during the period. Alphabet accounts for 3.5% of Channel Wealth LLC’s portfolio, making the stock its 6th largest position. Channel Wealth LLC’s holdings in Alphabet were worth $13,861,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $31,000. Manning & Napier Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. Towne Trust Company N.A raised its position in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. Finally, Creative Capital Management Investments LLC raised its position in shares of Alphabet by 1,438.5% during the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock valued at $63,000 after buying an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Key Headlines Impacting 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 Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated 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 owned 3,581 shares in the company, valued at approximately $1,187,638.65. The trade was a 22.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $302.99, for a total transaction of $33,934.88. Following the completion of the transaction, the director owned 18,418 shares in the company, valued at $5,580,469.82. The trade was a 0.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 157,953 shares of company stock valued at $47,767,818. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOG. KeyCorp set a $370.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Wells Fargo & Company upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $395.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Truist Financial set a $385.00 target price on shares of Alphabet in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $400.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $363.40.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $393.32 on Monday. The stock has a market cap of $4.77 trillion, a PE ratio of 30.00, a PEG ratio of 1.68 and a beta of 1.25. The company’s fifty day moving average is $327.44 and its 200 day moving average is $317.31. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $399.93. 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 (NASDAQ:GOOG) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The company 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 firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.81 EPS. Research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a positive change 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 dividend payout ratio is presently 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.