TRB Advisors LP Acquires New Holdings in Alphabet Inc. $GOOGL

TRB Advisors LP acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the information services provider’s stock, valued at approximately $9,390,000. Alphabet accounts for approximately 2.2% of TRB Advisors LP’s holdings, making the stock its 9th biggest holding.

Several other institutional investors also recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new position in Alphabet in the third quarter worth $416,217,000. NewEdge Wealth LLC grew its holdings in Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock worth $277,696,000 after purchasing an additional 93,293 shares during the last quarter. Sovran Advisors LLC grew its holdings in Alphabet by 23.6% in the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock worth $5,401,000 after purchasing an additional 4,241 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in Alphabet by 5.4% in the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider’s stock worth $17,652,000 after purchasing an additional 3,740 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Alphabet by 3.8% in the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider’s stock worth $405,131,000 after purchasing an additional 60,831 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, February 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Dbs Bank boosted their price objective on shares of Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Freedom Capital lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Evercore boosted their price objective on shares of Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was 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 of the company’s stock, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last ninety days. Corporate insiders own 11.61% of the company’s stock.

Alphabet Trading Down 1.0%

NASDAQ GOOGL opened at $368.53 on Friday. The company has a market capitalization of $4.47 trillion, a PE ratio of 28.11, a P/E/G ratio of 1.58 and a beta of 1.23. The company has a fifty day moving average of $352.70 and a 200 day moving average of $327.81. Alphabet Inc. has a 1 year low of $162.00 and a 1 year 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.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. 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%. The ex-dividend date is Monday, June 8th. Alphabet’s payout ratio is presently 6.41%.

Alphabet 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.