Fortune 45 LLC Sells 1,866 Shares of Alphabet Inc. $GOOGL

Fortune 45 LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 20.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,248 shares of the information services provider’s stock after selling 1,866 shares during the quarter. Alphabet makes up about 1.0% of Fortune 45 LLC’s portfolio, making the stock its 12th biggest position. Fortune 45 LLC’s holdings in Alphabet were worth $2,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in shares of Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after buying an additional 48,805 shares during the period. Finally, United Bank increased its stake in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after buying an additional 3,120 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $359.51 on Wednesday. The firm has a market capitalization of $4.36 trillion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. 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 business’s 50-day moving average is $371.39 and its two-hundred day moving average is $337.22. Alphabet Inc. has a 1 year low of $180.48 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Research analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is currently 6.71%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, June 22nd. UBS Group reiterated a “neutral” rating and issued a $400.00 price target (down from $410.00) on shares of Alphabet in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $445.00 price objective (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Finally, Rothschild & Co Redburn increased their price objective on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. 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. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.73.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being highlighted by analysts and market commentators as a top large-cap or “monopoly” stock, with bullish takes pointing to its AI-enabled ad business, cloud exposure, and strong earnings outlook. Here’s Why Alphabet (GOOGL) Is One of the Best Monopoly Stocks to Buy According to Hedge Funds
• Positive Sentiment: Google DeepMind chief Demis Hassabis called for a U.S.-led AI standards body, reinforcing Alphabet’s leadership role in frontier AI development and potentially supporting long-term investor confidence. Google DeepMind chief Demis Hassabis calls for U.S. to spearhead AI standards body
• Positive Sentiment: INVIDI announced a collaboration with Google to expand addressable advertising on unconnected set-top boxes, a potentially incremental ad monetization opportunity for Alphabet. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager…
• Neutral Sentiment: Several reports say Alphabet continues to outperform the market and remains favored by growth investors, but these are mostly commentary pieces rather than new business developments. Alphabet Inc. (GOOG) Exceeds Market Returns: Some Facts to Consider
• Neutral Sentiment: Investors are also digesting broader optimism around Alphabet’s valuation, cash generation, and AI chip strategy, which supports the stock but does not appear to be the main driver of the move. Google Vs. Nvidia: The Hidden Silicon Advantage That Could Let Google Dethrone Nvidia
• Negative Sentiment: Alphabet is facing fresh antitrust scrutiny in Switzerland over the removal of the Android “choice screen,” adding to regulatory pressure on its search dominance. Google probed by Swiss regulator over Android default search feature
• Negative Sentiment: Google also faces a new class-action lawsuit from publishers and authors alleging improper use of copyrighted works to train Gemini, raising legal and potential cost risks. Google faces another AI training lawsuit from major publishers
• Negative Sentiment: UK and Swiss regulatory actions targeting Google Search and Android data portability also weigh on sentiment because they could weaken Alphabet’s search moat over time. Should UK Search Data Portability Rules For Google Reshape Alphabet’s Competitive Moat (GOOGL) Narrative?

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. The trade was a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,415 shares of company stock valued at $7,672,279 over the last quarter. Insiders own 11.61% of the company’s stock.

About Alphabet

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.