Alphabet Inc. $GOOGL Position Boosted by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 62.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,164 shares of the information services provider’s stock after purchasing an additional 157,626 shares during the quarter. Alphabet accounts for approximately 6.0% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Reynders McVeigh Capital Management LLC’s holdings in Alphabet were worth $128,513,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PMV Capital Advisers LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $53,000. Kentucky Trust Co raised its holdings in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after buying an additional 100 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $53,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $63,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google’s AI glasses and they’re almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet’s new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $435.00 target price (up from $427.00) on shares of Alphabet in a report on Wednesday. BMO Capital Markets raised their target price on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 target price on Alphabet and gave the company a “buy” rating in a report on Thursday, April 30th. The Goldman Sachs Group raised their price objective on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Evercore raised their price objective on Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $412.65.

Alphabet Price Performance

Shares of GOOGL opened at $382.97 on Friday. The firm has a market cap of $4.64 trillion, a price-to-earnings ratio of 29.21, a PEG ratio of 1.66 and a beta of 1.26. The stock has a 50 day moving average of $337.75 and a 200-day moving average of $321.26. 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 Inc. has a 52 week low of $162.00 and a 52 week high of $408.61.

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, beating analysts’ consensus estimates of $2.64 by $2.47. 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 analyst estimates of $106.98 billion. As a group, analysts forecast that Alphabet Inc. will post 14.29 EPS for the current 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 given a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s payout ratio is presently 6.41%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the completion of the transaction, the chief executive officer owned 1,674,560 shares in the company, valued at approximately $508,028,012.80. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,481 shares of company stock worth $27,422,061 in the last ninety days. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Company 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.