Trillium Asset Management LLC Sells 141,600 Shares of Alphabet Inc. $GOOGL

Trillium Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 593,612 shares of the information services provider’s stock after selling 141,600 shares during the quarter. Alphabet accounts for 5.7% of Trillium Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Trillium Asset Management LLC’s holdings in Alphabet were worth $188,594,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Symmetry Partners LLC increased its stake in shares of Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after acquiring an additional 30 shares during the last quarter. Members Trust Co increased its stake in shares of Alphabet by 0.5% in the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after acquiring an additional 31 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in shares of Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after acquiring an additional 31 shares during the last quarter. Insight 2811 Inc. increased its stake in shares of Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock valued at $978,000 after acquiring an additional 32 shares during the last quarter. Finally, LJI Wealth Management LLC increased its stake in shares of Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after acquiring an additional 32 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’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 the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. This trade represents 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. Over the last quarter, insiders have sold 193,016 shares of company stock worth $17,282,549. 11.61% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $359.68 on Friday. 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 company has a market capitalization of $4.36 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. The company’s 50 day moving average price is $360.45 and its two-hundred day moving average price is $330.26. 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 results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping 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 firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company 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 an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend 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 currently 6.71%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Analysts Set New Price Targets

A number of analysts have recently commented on GOOGL shares. Cantor Fitzgerald upped their price target on Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. KeyCorp reiterated an “overweight” rating and issued a $425.00 price objective on shares of Alphabet in a research report on Wednesday, May 20th. Arete Research raised their target price on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group restated a “buy” rating 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 issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

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.