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

Ovata Capital Management Ltd trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 31.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,400 shares of the information services provider’s stock after selling 2,900 shares during the period. Ovata Capital Management Ltd’s holdings in Alphabet were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. J. Stern & Co. LLP boosted its stake in Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after buying an additional 111,699,704 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $18,093,665,000. Cardano Risk Management B.V. lifted its holdings in shares of Alphabet by 850.3% during the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after acquiring an additional 15,830,754 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Pivotal Research reissued a “buy” rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. Finally, KeyCorp reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $376.78.

Insider Buying and Selling

In other news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the transaction, the director directly owned 18,721 shares in the company, valued at approximately $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 160,516 shares of company stock valued at $7,344,604. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $367.46 on Friday. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. The stock has a market capitalization of $4.45 trillion, a PE ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s fifty day moving average is $364.31 and its 200-day moving average is $331.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. Equities research analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. 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 dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

About Alphabet

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.