Ovata Capital Management Ltd Sells 2,900 Shares of Alphabet Inc. $GOOG

Ovata Capital Management Ltd lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,400 shares of the information services provider’s stock after selling 2,900 shares during the quarter. Alphabet accounts for 0.4% of Ovata Capital Management Ltd’s portfolio, making the stock its 27th largest position. Ovata Capital Management Ltd’s holdings in Alphabet were worth $2,003,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Imprint Wealth LLC bought a new stake in shares of Alphabet in the 3rd quarter worth about $31,000. Towne Trust Company N.A lifted its holdings in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the last quarter. Creative Capital Management Investments LLC lifted its holdings in shares of Alphabet by 1,438.5% in the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock worth $63,000 after acquiring an additional 187 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Alphabet in the 4th quarter worth about $63,000. Institutional investors own 27.26% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is expanding Gemini with new tools aimed at small businesses, which could help broaden adoption and monetize AI services. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Alphabet’s support for Anthropic’s $35 billion AI infrastructure financing deal reinforces its central role in AI buildout and could boost cloud demand. Google Backs $35 Billion Anthropic AI Infrastructure Financing Deal
• Positive Sentiment: Reports that Gemini monthly users have doubled highlight strong product momentum and strengthen the long-term AI growth story. Alphabet Inc. (GOOGL) Reports Doubling of Gemini App Monthly Users to 900 Million
• Neutral Sentiment: Google’s reported $920 million-per-month AI compute deal with SpaceX may support future growth, but it also signals rising infrastructure spending and AI competition costs. Google’s $920 Million-a-Month Deal Could Supercharge the SpaceX IPO
• Negative Sentiment: A fire at a third-party data center caused intermittent Google Cloud disruptions in India, which could raise reliability concerns for some customers. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Google’s request for a new trial in the youth social media addiction case, leaving legal liability concerns in place. Meta and Google denied new trial after landmark verdict in youth social media addiction case

Alphabet Stock Down 2.5%

Shares of Alphabet stock opened at $353.32 on Thursday. The firm’s 50 day moving average price is $355.05 and its 200-day moving average price is $328.84. 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 Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The company has a market cap of $4.28 trillion, a P/E ratio of 26.95, a PEG ratio of 1.55 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company 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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Freedom Capital lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a report on Monday, June 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $376.78.

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.