Pier 88 Investment Partners LLC Sells 10,600 Shares of Alphabet Inc. $GOOGL

Pier 88 Investment Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 62.0% during the fourth quarter, Holdings Channel reports. The firm owned 6,500 shares of the information services provider’s stock after selling 10,600 shares during the period. Pier 88 Investment Partners LLC’s holdings in Alphabet were worth $2,034,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Freedom Day Solutions LLC grew its stake in shares of Alphabet by 4.1% in the 4th quarter. Freedom Day Solutions LLC now owns 18,065 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 716 shares during the period. KLCM Advisors Inc. grew its stake in shares of Alphabet by 66.1% in the 4th quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider’s stock valued at $7,161,000 after purchasing an additional 9,105 shares during the period. American Institute for Advanced Investment Management LLP grew its stake in shares of Alphabet by 1.4% in the 4th quarter. American Institute for Advanced Investment Management LLP now owns 3,721 shares of the information services provider’s stock valued at $1,134,000 after purchasing an additional 53 shares during the period. AG2R LA Mondiale Gestion D Actifs grew its stake in shares of Alphabet by 6.4% in the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 230,550 shares of the information services provider’s stock valued at $72,162,000 after purchasing an additional 13,824 shares during the period. Finally, Fortem Financial Group LLC grew its stake in shares of Alphabet by 7.0% in the 4th quarter. Fortem Financial Group LLC now owns 24,733 shares of the information services provider’s stock valued at $7,741,000 after purchasing an additional 1,618 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Susquehanna reiterated a “positive” rating and issued a $460.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Wedbush boosted their price target on shares of Alphabet from $360.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Evercore upped their price objective on shares of Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Rothschild & Co Redburn upped their price objective on shares of Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Loop Capital upped their price objective on shares of Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Two investment 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 data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $412.94.

Alphabet Trading Down 2.5%

GOOGL opened at $380.34 on Friday. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market cap of $4.61 trillion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26. The firm has a 50 day simple moving average of $345.77 and a 200 day simple moving average of $324.91.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud reported standout Q1’26 results, with revenue up 63% to $20 billion, a 32.9% margin, and a backlog that reached $462 billion, suggesting strong demand and improving profitability. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Alphabet and Blackstone announced a partnership to build 500MW of U.S. data center capacity by 2027, underscoring Alphabet’s push to monetize TPU-powered AI compute as a service. Google and Blackstone partner on TPU-powered data centre capacity
• Positive Sentiment: Alphabet’s buy rating was reaffirmed by Barclays, adding to the bullish analyst tone around the stock. Alphabet Class A (GOOGL) Gets a Buy from Cantor Fitzgerald
• Positive Sentiment: Reuters reported that EQT partnered with Google Cloud to accelerate AI adoption across more than 300 portfolio companies, reinforcing Alphabet’s enterprise AI momentum. Private equity firm EQT partners with Google Cloud for AI rollout
• Neutral Sentiment: Waymo continued expanding its robotaxi fleet with lower-cost vehicles and new rider access, which supports Alphabet’s optionality in autonomous driving but is not an immediate earnings driver. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet expansion
• Negative Sentiment: Alphabet is facing fresh reputational and legal pressure after U.S. prosecutors charged a Google engineer in a Polymarket insider-trading case, and an Indian court ruling raised trademark-related ad risk. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: Some commentary also suggested Alphabet could face pressure as AI rivals like OpenAI and Anthropic raise larger funding war chests, keeping competition concerns in focus. Anthropic Leapfrogs OpenAI In Valuation. But Here’s One Thing To Know.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 102 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the transaction, the director owned 18,621 shares of the company’s stock, valued at $6,908,391. The trade was a 0.54% 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 three months. Insiders own 11.61% of the company’s stock.

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.