Sageworth Trust Co Decreases Stake in Alphabet Inc. $GOOGL

Sageworth Trust Co reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 88.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,058 shares of the information services provider’s stock after selling 30,650 shares during the period. Sageworth Trust Co’s holdings in Alphabet were worth $1,270,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc purchased a new stake in Alphabet during the third quarter valued at approximately $4,338,397,000. Vanguard Group Inc. raised its position in Alphabet by 2.4% during 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 purchasing an additional 12,531,695 shares during the period. Capital World Investors raised its position in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. Capital Research Global Investors raised its position in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock valued at $12,333,076,000 after purchasing an additional 6,874,381 shares during the period. Finally, Mizuho Markets Cayman LP raised its position in Alphabet by 23,402.1% during the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider’s stock valued at $1,487,419,000 after purchasing an additional 6,092,513 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $382.97 on Tuesday. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The stock has a market cap of $4.64 trillion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. The business’s 50 day moving average is $339.34 and its 200 day moving average is $322.26. 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 (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. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Sell-side analysts predict that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company 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. 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. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is currently 6.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. Citigroup restated an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Sanford C. Bernstein restated a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Citizens Jmp restated a “market outperform” rating and set a $515.00 price objective on shares of Alphabet in a research report on Wednesday, May 20th. New Street Research upped their price objective on Alphabet from $380.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Robert W. Baird upped their price objective on Alphabet from $380.00 to $400.00 and gave the company 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $412.65.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being highlighted as a strong AI investment thanks to its vertically integrated AI stack and cloud growth, which some analysts say could help it compete effectively in the booming AI data center market.
• Positive Sentiment: Google rolled out new AI-powered ad products at Marketing Live, including Gemini-based ad formats and AI search checkout tools, which could expand ad monetization and strengthen its core advertising business. Article Title
• Positive Sentiment: Reports that Alphabet may invest up to $190 billion by 2026 underscore its aggressive push into AI and infrastructure, signaling continued long-term spending to defend and grow its leadership position.
• Positive Sentiment: Coverage suggesting Alphabet has the tools to win the AI race and remains a top-ranked growth stock may be reinforcing investor confidence in the company’s earnings and strategic outlook.
• Neutral Sentiment: Alphabet’s Waymo unit faced service interruptions in some cities due to flooded roads and construction zones, a reminder that the autonomous driving business still has operational hurdles.
• Neutral Sentiment: Commentary around Google’s AI security challenges and its smart-glasses partnerships adds to the long-term innovation story, but these developments are not likely to move the stock immediately.
• Negative Sentiment: The European Union is reportedly preparing to fine Google a high triple-digit million-euro amount as part of an antitrust investigation, increasing regulatory risk for Alphabet’s core business and pressuring sentiment. Article Title
• Negative Sentiment: Google is also appealing a court ruling tied to its search monopoly, keeping antitrust uncertainty alive for investors focused on the durability of its search dominance.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the transaction, the director directly owned 3,581 shares in the company, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 226,481 shares of company stock valued at $27,422,061 over the last 90 days. 11.61% of the stock is owned by insiders.

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.