Alphabet Inc. $GOOGL Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,804 shares of the information services provider’s stock after selling 3,389 shares during the period. Alphabet accounts for approximately 2.0% of Convergence Investment Partners LLC’s holdings, making the stock its 3rd largest holding. Convergence Investment Partners LLC’s holdings in Alphabet were worth $10,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. PMV Capital Advisers LLC purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Alphabet during the third quarter worth approximately $53,000. Kentucky Trust Co increased its position in shares of Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Alphabet during the third quarter worth approximately $53,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Alphabet during the third quarter worth approximately $63,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s reported $10 billion commitment to Alphabet’s capital raise is a strong vote of confidence in the company’s AI and cloud strategy, helping validate the long-term investment case. Alphabet plans to raise $80 billion for AI goals, Berkshire to invest $10 billion
• Positive Sentiment: Wall Street continues to frame Alphabet as a major AI beneficiary, with analysts reaffirming bullish price targets and noting rising demand for Google Cloud and AI infrastructure. Alphabet had its “buy” rating reaffirmed by Needham & Company LLC
• Neutral Sentiment: Lovable’s expanded multi-year Google Cloud deal highlights ongoing customer demand for Alphabet’s cloud services, but it is a modest business development rather than a major near-term catalyst. Lovable signs multi-year deal with Google Cloud to up usage 5x, source says
• Neutral Sentiment: Coverage around the AI boom and Alphabet’s expanding role in the sector supports the growth narrative, but much of it is sentiment-driven rather than a direct earnings update. Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
• Negative Sentiment: Alphabet’s massive $84.75 billion equity raise is stirring dilution concerns and signaling that AI infrastructure spending will remain extremely capital intensive, which has weighed on the stock. Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
• Negative Sentiment: UK regulators imposed new conduct requirements on Google Search, including giving publishers more control over AI use of their content, adding a fresh regulatory overhang for Alphabet’s search and AI businesses. UK regulator enforces new competition requirements for Google search

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the transaction, the chief executive officer owned 1,642,060 shares of the company’s stock, valued at approximately $505,573,853.40. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 193,016 shares of company stock worth $17,282,549. Insiders own 11.61% of the company’s stock.

Alphabet Stock Down 0.8%

Shares of NASDAQ:GOOGL opened at $358.99 on Thursday. The stock has a market cap of $4.35 trillion, a P/E ratio of 27.38, a PEG ratio of 1.55 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The business has a fifty day moving average of $349.51 and a two-hundred day moving average of $326.85.

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. The business had revenue of $109.90 billion during 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, research analysts expect that Alphabet Inc. will post 14.28 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. The ex-dividend date is Monday, June 8th. 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. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOOGL shares. Oppenheimer boosted their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Loop Capital boosted their price target on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wells Fargo & Company reiterated an “overweight” rating and set a $435.00 price target (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Evercore boosted their price target on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $413.04.

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.