Cornerstone Enterprises LLC Has $9.63 Million Holdings in Alphabet Inc. $GOOGL

Cornerstone Enterprises LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,753 shares of the information services provider’s stock after selling 3,536 shares during the period. Alphabet accounts for 4.6% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 9th largest position. Cornerstone Enterprises LLC’s holdings in Alphabet were worth $9,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Symmetry Partners LLC boosted its stake in Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares in the last quarter. Members Trust Co boosted its stake in Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after buying an additional 31 shares in the last quarter. Altfest L J & Co. Inc. lifted its holdings in shares of Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after purchasing an additional 31 shares during the last quarter. Lifelong Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 1.9% during the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider’s stock valued at $541,000 after purchasing an additional 33 shares during the last quarter. Finally, White Wing Wealth Management lifted its holdings in shares of Alphabet by 2.9% during the fourth quarter. White Wing Wealth Management now owns 1,155 shares of the information services provider’s stock valued at $362,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Susquehanna reaffirmed a “positive” rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. KeyCorp set a $425.00 target price on Alphabet and gave the company an “overweight” rating in a report on Thursday, April 30th. Arete Research upped their target price on Alphabet from $380.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Bank of America upped their target price on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $407.86.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet briefly surpassed NVIDIA in market value, highlighting renewed investor confidence in its AI strategy and earnings strength. Alphabet Is on the Brink of Beating NVIDIA in Market Value: ETFs to Buy
• Positive Sentiment: Google said it likely thwarted an AI-generated zero-day exploit, underscoring the strength of its cybersecurity capabilities and AI threat-detection tools. Google says it likely thwarted effort by hacker group to use AI for ‘mass exploitation event’
• Positive Sentiment: Alphabet is expanding Google Finance into Europe as part of its AI-focused product rollout, supporting the case for continued AI-driven innovation across its ecosystem. Google Finance Continues AI-Focused Expansion With EU Launch
• Neutral Sentiment: Alphabet is planning its first yen-denominated bond offering to help fund rising AI infrastructure spending, adding to its recent debt raises in other currencies. Alphabet considers first yen bond sale to fund AI goals
• Neutral Sentiment: Reports that short interest increased were based on zero shares reported, so they do not appear to provide meaningful directional signal for GOOGL.
• Negative Sentiment: The U.S. Commerce Department removed details from a public page about AI security testing involving Google, Microsoft, and xAI, which could raise mild regulatory transparency questions. Microsoft, Google, xAI security test details deleted from US government website

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 617 shares of the 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 directly owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 dated 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 completion of the sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 158,553 shares of company stock worth $47,951,856. 11.61% of the stock is currently owned by company insiders.

Alphabet Stock Down 3.0%

Shares of Alphabet stock opened at $388.64 on Tuesday. The stock has a 50-day moving average price of $322.04 and a 200 day moving average price of $313.71. The company has a market cap of $4.71 trillion, a P/E ratio of 29.64, a P/E/G ratio of 1.64 and a beta of 1.26. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $156.16 and a 1 year high of $402.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.

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.