King Luther Capital Management Corp Purchases 46,386 Shares of Alphabet Inc. $GOOG

King Luther Capital Management Corp boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,495,977 shares of the information services provider’s stock after acquiring an additional 46,386 shares during the period. Alphabet comprises approximately 3.2% of King Luther Capital Management Corp’s holdings, making the stock its 5th biggest holding. King Luther Capital Management Corp’s holdings in Alphabet were worth $783,237,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Imprint Wealth LLC purchased a new position in Alphabet during the third quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet in the 4th quarter valued at about $38,000. Towne Trust Company N.A grew its holdings in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the period. Winnow Wealth LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at about $63,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Alphabet by 29.0% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 58 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet signed a major cloud-computing agreement with SpaceX, with reports putting the deal at about $920 million per month for 32 months, which could provide a meaningful revenue stream and reinforce demand for Google Cloud. Article Title
• Positive Sentiment: Alphabet’s municipal-bond debut drew strong investor demand, suggesting institutions still view the company as a high-quality borrower with flexible financing options. Article Title
• Positive Sentiment: Some investors and analysts said the equity raise is a strategic move to accelerate AI infrastructure and may help Alphabet defend and expand its long-term leadership in search, cloud, and AI. Article Title
• Neutral Sentiment: Alphabet also appeared in commentary about AI-related partnerships, including potential indirect benefits from the SpaceX IPO and other cloud collaborations, but these are mostly longer-term strategic themes rather than immediate catalysts. Article Title
• Negative Sentiment: Wall Street coverage focused heavily on Alphabet’s expanding capital expenditures, with some commentators warning that the AI buildout may be getting too expensive and could pressure free cash flow. Article Title

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 193,016 shares of company stock valued at $17,282,549. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOG shares. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Truist Financial set a $430.00 price target on shares of Alphabet in a report on Monday. Finally, Citigroup reissued a “market outperform” rating on shares of Alphabet in a research note on Monday. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $376.00.

Alphabet Stock Performance

NASDAQ:GOOG opened at $365.76 on Friday. The firm’s fifty day simple moving average is $350.06 and its 200 day simple moving average is $327.07. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The firm has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.58 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.81 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s payout ratio is 6.41%.

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.