Alphabet Inc. $GOOG Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 9.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,405 shares of the information services provider’s stock after selling 3,884 shares during the period. Alphabet accounts for about 0.3% of Richard Bernstein Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Richard Bernstein Advisors LLC’s holdings in Alphabet were worth $11,424,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nvest Wealth Strategies Inc. acquired a new position in Alphabet in the fourth quarter worth about $38,000. Imprint Wealth LLC acquired a new position in Alphabet in the third quarter worth about $31,000. Manning & Napier Advisors LLC acquired a new position in Alphabet in the third quarter worth about $32,000. Towne Trust Company N.A grew its stake in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. Finally, Creative Capital Management Investments LLC grew its stake in Alphabet by 1,438.5% in the fourth quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock worth $63,000 after purchasing an additional 187 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman’s Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GOOG shares. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Freedom Capital cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wedbush reissued an “outperform” rating and issued a $370.00 target price on shares of Alphabet in a report on Thursday, February 5th. Pivotal Research reissued a “buy” rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $370.00 target price on shares of Alphabet in a report on Tuesday, January 20th. 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 stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $363.40.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $393.32 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $327.44 and its two-hundred day moving average price is $316.98. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $399.93. The stock has a market capitalization of $4.77 trillion, a P/E ratio of 30.00, a P/E/G ratio of 1.68 and a beta of 1.25.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter last year, the company posted $2.81 earnings per share. Alphabet’s revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast 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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.41%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 157,953 shares of company stock valued at $47,767,818. Company insiders own 12.99% of the company’s stock.

Alphabet 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.