Alphabet Inc. $GOOGL Shares Sold by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,697 shares of the information services provider’s stock after selling 1,592 shares during the quarter. Alphabet makes up about 1.8% of Riverbend Wealth Management LLC’s portfolio, making the stock its 9th largest holding. Riverbend Wealth Management LLC’s holdings in Alphabet were worth $3,076,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lifetime Wealth Management P.C. bought a new position in Alphabet during the 4th quarter worth $32,000. EMC Capital Management bought a new stake in shares of Alphabet in the 4th quarter valued at about $33,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $359.91 on Monday. Alphabet Inc. has a 52-week low of $172.77 and a 52-week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The business’s 50 day moving average price is $371.05 and its two-hundred day moving average price is $334.60. The firm has a market cap of $4.36 trillion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Several recent stories highlight Alphabet’s AI and cloud momentum, including Google Cloud traction with enterprise customers like Jack Henry and growing use of Google’s cloud tech by Italy’s Intesa Sanpaolo, which supports the bull case for future growth. Article Title
• Positive Sentiment: Jim Cramer argued that Alphabet still looks cheap, reinforcing a valuation-supportive narrative for GOOGL after its pullback. Article Title
• Positive Sentiment: Wall Street sentiment remains constructive, with Wells Fargo keeping an overweight rating and multiple analysts maintaining buy recommendations, which may help support the stock. Article Title
• Neutral Sentiment: Alphabet’s insider selling by John Kent Walker appears routine and is not, by itself, a major fundamental concern for investors. Article Title
• Neutral Sentiment: Coverage around Alphabet’s growing role in AI-powered shopping, robotaxis, and other ecosystem developments adds to the long-term story, but these are more thesis-supportive than immediate catalysts. Article Title
• Negative Sentiment: The biggest drag is the EU Supreme Court decision upholding Alphabet’s €4.1 billion Android antitrust fine, which reinforces legal and regulatory overhangs for the stock. Article Title
• Negative Sentiment: A separate Swedish court ruling ordered Alphabet to pay nearly $2 billion in a price-comparison dispute, adding to the sense that antitrust and competition risks remain active. Article Title

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director directly owned 2,531 shares in the company, valued at $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock worth $8,020,511 in the last quarter. Company insiders own 11.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KeyCorp reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. New Street Research increased their target price on shares of Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Loop Capital raised their price target on shares of Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, May 15th. CICC Research boosted their price target on shares of Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Freedom Capital lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $413.54.

About Alphabet

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.