Alphabet Inc. $GOOGL Shares Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 228,088 shares of the information services provider’s stock after selling 13,891 shares during the period. Alphabet comprises approximately 2.2% of Profund Advisors LLC’s investment portfolio, making the stock its 8th largest position. Profund Advisors LLC’s holdings in Alphabet were worth $71,392,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in Alphabet by 22.5% during the 4th quarter. ProShare Advisors LLC now owns 4,354,281 shares of the information services provider’s stock valued at $1,362,890,000 after purchasing an additional 799,376 shares in the last quarter. Warner Group LLC grew its holdings in Alphabet by 7.3% during the 4th quarter. Warner Group LLC now owns 3,637 shares of the information services provider’s stock valued at $1,138,000 after purchasing an additional 246 shares in the last quarter. Summit Wealth Group LLC grew its holdings in Alphabet by 13.8% during the 4th quarter. Summit Wealth Group LLC now owns 3,139 shares of the information services provider’s stock valued at $983,000 after purchasing an additional 381 shares in the last quarter. Radnor Capital Management LLC grew its holdings in Alphabet by 0.8% during the 4th quarter. Radnor Capital Management LLC now owns 31,540 shares of the information services provider’s stock valued at $9,872,000 after purchasing an additional 257 shares in the last quarter. Finally, Prossimo Advisors LLC grew its holdings in Alphabet by 2.8% during the 4th quarter. Prossimo Advisors LLC now owns 1,631 shares of the information services provider’s stock valued at $511,000 after purchasing an additional 45 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $425.00 price target on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, April 30th. Guggenheim reissued a “buy” rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. President Capital raised their price objective on shares of Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley raised their price objective on shares of Alphabet from $330.00 to $375.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $515.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. 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 company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $413.13.

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’

Insider Buying and Selling

In other news, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 193,016 shares of company stock worth $17,282,549. Company insiders own 11.61% of the company’s stock.

Alphabet Trading Down 1.0%

Alphabet stock opened at $368.53 on Friday. The firm’s 50-day moving average is $352.70 and its 200-day moving average is $327.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The company has a market cap of $4.47 trillion, a P/E ratio of 28.11, a PEG ratio of 1.59 and a beta of 1.23.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 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.