Novare Capital Management LLC Sells 2,661 Shares of Alphabet Inc. $GOOGL

Novare Capital Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 171,423 shares of the information services provider’s stock after selling 2,661 shares during the quarter. Alphabet comprises 4.0% of Novare Capital Management LLC’s holdings, making the stock its 4th biggest position. Novare Capital Management LLC’s holdings in Alphabet were worth $53,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in Alphabet during the third quarter worth about $416,217,000. NewEdge Wealth LLC grew its stake in shares of Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after purchasing an additional 93,293 shares during the period. Sovran Advisors LLC grew its stake in shares of Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock valued at $5,401,000 after purchasing an additional 4,241 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Alphabet by 5.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider’s stock valued at $17,652,000 after purchasing an additional 3,740 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Alphabet by 3.8% in the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider’s stock valued at $405,131,000 after purchasing an additional 60,831 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were 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 can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred 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 directly owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% 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 valued at $17,282,549. 11.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOGL shares. Citizens Jmp reiterated a “market outperform” rating and issued a $515.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. The Goldman Sachs Group lifted their target price on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $390.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. Wedbush raised their price target on shares of Alphabet from $360.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, DA Davidson raised their price target on shares of Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $413.04.

Alphabet Stock Performance

Shares of Alphabet stock opened at $358.99 on Thursday. 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 firm has a market cap of $4.35 trillion, a P/E ratio of 27.38, a P/E/G ratio of 1.55 and a beta of 1.23. The firm has a 50 day simple moving average of $349.51 and a 200 day simple moving average of $326.85. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Sell-side analysts predict that Alphabet Inc. will post 14.28 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 is a boost 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%. Alphabet’s payout ratio is 6.41%.

Key Alphabet News

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

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.