Alphabet Inc. $GOOGL Stock Holdings Trimmed by Frisch Financial Group Inc.

Frisch Financial Group Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 83,812 shares of the information services provider’s stock after selling 1,420 shares during the period. Alphabet comprises about 5.9% of Frisch Financial Group Inc.’s investment portfolio, making the stock its 3rd biggest holding. Frisch Financial Group Inc.’s holdings in Alphabet were worth $26,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY raised its position in shares of Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after buying an additional 48,805 shares during the period. Finally, United Bank raised its position in shares of Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after buying an additional 3,120 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on GOOGL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Robert W. Baird lifted their price target on shares of Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. HSBC reaffirmed a “buy” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research report on Tuesday. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Argus lifted their price target on shares of Alphabet from $365.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The shares were 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 approximately $14,293,309.12. This trade 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 193,016 shares of company stock valued at $17,282,549 over the last quarter. 11.61% of the stock is owned by corporate insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Alphabet Price Performance

Alphabet stock opened at $368.53 on Friday. The stock has a market cap of $4.47 trillion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. The company has a fifty day simple moving average of $352.70 and a 200-day simple moving average of $327.81. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Equities analysts expect 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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.41%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.