Alphabet Inc. $GOOGL Stock Holdings Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 63.2% during the 4th quarter, HoldingsChannel reports. The firm owned 8,927,693 shares of the information services provider’s stock after purchasing an additional 3,457,517 shares during the period. Alphabet comprises about 1.6% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 6th biggest position. Arrowstreet Capital Limited Partnership’s holdings in Alphabet were worth $2,794,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. State Street Corp boosted its position in Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC boosted its position in Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares during the last quarter. Norges Bank purchased a new position in Alphabet in the fourth quarter worth about $30,534,239,000. Finally, Capital World Investors boosted its position in Alphabet by 1.5% in the fourth quarter. Capital World Investors now owns 53,881,908 shares of the information services provider’s stock worth $16,865,158,000 after purchasing an additional 774,336 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting 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

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Monday, February 16th. Arete Research raised their target price on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Susquehanna reissued a “positive” rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Citizens Jmp reaffirmed a “market outperform” rating and set a $515.00 price objective on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Phillip Securities lifted their price objective on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research report on Wednesday, April 15th. Two research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $413.13.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 $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. Insiders have sold 193,016 shares of company stock worth $17,282,549 in the last three months. Corporate insiders own 11.61% of the company’s stock.

Alphabet Stock Up 0.5%

GOOGL stock opened at $359.68 on Friday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. 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 stock has a market cap of $4.36 trillion, a P/E ratio of 27.44, a PEG ratio of 1.54 and a beta of 1.23. The business’s 50-day moving average price is $360.45 and its 200-day moving average price is $330.26.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations 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 forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a boost 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 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is 6.71%.

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.