Profund Advisors LLC Sells 12,703 Shares of Alphabet Inc. $GOOG

Profund Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,895 shares of the information services provider’s stock after selling 12,703 shares during the quarter. Alphabet accounts for 1.9% of Profund Advisors LLC’s holdings, making the stock its 9th biggest holding. Profund Advisors LLC’s holdings in Alphabet were worth $63,982,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Ring Mountain Capital LLC grew its holdings in shares of Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after purchasing an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. grew its holdings in shares of Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after purchasing an additional 30 shares in the last quarter. HRC Wealth Management LLC lifted its position in shares of Alphabet by 1.0% during the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after buying an additional 31 shares during the last quarter. Certior Financial Group LLC lifted its position in shares of Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after buying an additional 31 shares during the last quarter. Finally, Synergy Investment Management LLC lifted its position in shares of Alphabet by 0.8% during the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock worth $1,294,000 after buying an additional 31 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares of the company’s stock, valued at $505,573,853.40. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 226,481 shares of company stock valued at $27,422,061. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $386.12 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.68 trillion, a PE ratio of 29.45, a P/E/G ratio of 1.65 and a beta of 1.25. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. The stock has a 50-day moving average price of $341.87 and a two-hundred day moving average price of $323.94.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the company earned $2.81 earnings per share. Analysts expect that Alphabet Inc. will post 14.29 EPS for the current 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 given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.41%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOOG shares. KeyCorp restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Piper Sandler restated an “overweight” rating and set a $395.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their price objective on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TD Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $372.65.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

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.