Alphabet Inc. $GOOGL Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,439 shares of the information services provider’s stock after selling 4,645 shares during the period. Alphabet comprises approximately 1.3% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 8th biggest position. New Age Alpha Advisors LLC’s holdings in Alphabet were worth $29,559,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Allen Capital Group LLC grew its holdings in Alphabet by 1.9% during the 4th quarter. Allen Capital Group LLC now owns 53,245 shares of the information services provider’s stock worth $16,666,000 after acquiring an additional 990 shares during the period. LifePlan Investment Advisors Inc. grew its holdings in Alphabet by 3.6% during the 4th quarter. LifePlan Investment Advisors Inc. now owns 2,500 shares of the information services provider’s stock worth $782,000 after acquiring an additional 87 shares during the period. Wealthquest Corp acquired a new stake in Alphabet during the 4th quarter worth about $2,650,000. Kuhn & Co Investment Counsel grew its holdings in Alphabet by 17.8% during the 4th quarter. Kuhn & Co Investment Counsel now owns 6,564 shares of the information services provider’s stock worth $2,055,000 after acquiring an additional 994 shares during the period. Finally, First National Trust Co grew its holdings in Alphabet by 0.9% during the 4th quarter. First National Trust Co now owns 270,983 shares of the information services provider’s stock worth $84,818,000 after acquiring an additional 2,373 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 193,016 shares of company stock worth $17,282,549 in the last 90 days. Company insiders own 11.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOGL. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the stock a “buy” rating in a report on Thursday, April 30th. HSBC reiterated a “buy” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. The Goldman Sachs Group increased their price target on Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $515.00 price target on shares of Alphabet in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.13.

Alphabet Stock Performance

Shares of GOOGL opened at $368.53 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a 50-day moving average of $352.70 and a 200-day moving average of $328.11. The company has a market cap of $4.47 trillion, a PE ratio of 28.11, a P/E/G ratio of 1.58 and a beta of 1.23. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities research analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.71%.

Alphabet News Summary

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 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.