BLKBRD Asset Management LP cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 80.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,679 shares of the information services provider’s stock after selling 56,158 shares during the period. Alphabet comprises about 5.8% of BLKBRD Asset Management LP’s investment portfolio, making the stock its 5th largest position. BLKBRD Asset Management LP’s holdings in Alphabet were worth $4,282,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew 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 valued at $165,567,398,000 after acquiring an additional 12,531,695 shares during the period. State Street Corp grew 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 valued at $40,524,841,000 after acquiring an additional 4,008,374 shares during the period. Geode Capital Management LLC grew 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 valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the period. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at $30,534,239,000. Finally, Capital World Investors grew 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 valued at $16,865,158,000 after acquiring an additional 774,336 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand its AI capabilities, reinforcing Alphabet’s cloud momentum and potential enterprise revenue growth. HSBC partners with Google Cloud to expand AI usage
- Positive Sentiment: Google released Android 17 and Wear OS 7, while also adding new Gemini AI features and Pixel device upgrades, highlighting continued product innovation and deeper AI integration across its ecosystem. Android 17 launches with new multitasking tools as Google expands Gemini features
- Positive Sentiment: Google Cloud also landed a strategic partnership with Ineffable Intelligence, another sign that enterprises and AI startups are choosing Alphabet’s infrastructure for frontier AI development. Ineffable Intelligence Selects Google Cloud To Power Its Superintelligence Mission
- Neutral Sentiment: Several recent commentary pieces continued to frame Alphabet as a favorite large-cap AI name and a possible long-term winner, which may be supporting investor sentiment but does not reflect a new fundamental announcement. Alphabet: Still A Big Tech Pick To ‘Buy’ Now
- Neutral Sentiment: Google’s disclosure about Chinese-linked hackers targeting research facilities underscores its cybersecurity and threat-detection role, but the story is more about security awareness than a direct business driver. Chinese-linked hackers targeted U.S.,Canadian research facilities for a year, Google says
- Negative Sentiment: A separate report noted a small student walkout and boos during CEO Sundar Pichai’s Stanford commencement appearance, which is unlikely to affect fundamentals but adds a minor reputational headwind. Sundar Pichai faces boos, walkout at Stanford graduation ceremony over Google’s Israel, ICE ties
Analyst Ratings Changes
Check Out Our Latest Report on Alphabet
Insiders Place Their Bets
In related news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the transaction, the director owned 18,721 shares in the company, valued at $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares in the company, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,466 shares of company stock valued at $6,957,543 over the last 90 days. Corporate insiders own 11.61% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $373.25 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $4.52 trillion, a P/E ratio of 28.47, a P/E/G ratio of 1.58 and a beta of 1.23. The business’s fifty day moving average is $363.48 and its two-hundred day moving average is $331.04. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid 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 yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.
Alphabet Company 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.
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