Alphabet Inc. $GOOG Shares Sold by Costello Asset Management INC

Costello Asset Management INC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,134 shares of the information services provider’s stock after selling 3,306 shares during the period. Alphabet comprises approximately 5.1% of Costello Asset Management INC’s portfolio, making the stock its 6th biggest position. Costello Asset Management INC’s holdings in Alphabet were worth $15,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Pearl Planning LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $206,000. Indie Asset Partners LLC boosted its position in shares of Alphabet by 29.7% in the fourth quarter. Indie Asset Partners LLC now owns 1,436 shares of the information services provider’s stock worth $451,000 after buying an additional 329 shares during the period. Merrithew & Thorsten Inc acquired a new stake in shares of Alphabet in the fourth quarter worth $1,625,000. Sound Financial Strategies Group LLC boosted its position in shares of Alphabet by 12,325.0% in the fourth quarter. Sound Financial Strategies Group LLC now owns 1,491 shares of the information services provider’s stock worth $468,000 after buying an additional 1,479 shares during the period. Finally, Wesbanco Bank Inc. boosted its position in shares of Alphabet by 8.8% in the fourth quarter. Wesbanco Bank Inc. now owns 83,263 shares of the information services provider’s stock worth $26,128,000 after buying an additional 6,707 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares of the company’s stock, valued at $6,908,391. This represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 157,953 shares of company stock valued at $47,767,818. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $393.32 on Monday. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $399.93. The business has a 50-day moving average of $327.44 and a two-hundred day moving average of $317.31. 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. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the previous year, the firm earned $2.81 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business 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 $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is presently 6.41%.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOG. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Tuesday, January 20th. Oppenheimer lifted their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial set a $385.00 price objective on Alphabet in a research report on Wednesday, April 22nd. Wells Fargo & Company raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday, March 13th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $363.40.

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

About Alphabet

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.