Elite Wealth Management Inc. Sells 2,929 Shares of Alphabet Inc. $GOOGL

Elite Wealth Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 95,052 shares of the information services provider’s stock after selling 2,929 shares during the quarter. Alphabet accounts for approximately 8.1% of Elite Wealth Management Inc.’s portfolio, making the stock its 3rd biggest position. Elite Wealth Management Inc.’s holdings in Alphabet were worth $29,751,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Symmetry Partners LLC lifted its stake in shares of Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares in the last quarter. Members Trust Co lifted its stake in shares of Alphabet by 0.5% in the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after buying an additional 31 shares in the last quarter. Altfest L J & Co. Inc. lifted its stake in shares of Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after buying an additional 31 shares in the last quarter. Lifelong Wealth Advisors Inc. lifted its stake in shares of Alphabet by 1.9% in the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider’s stock valued at $541,000 after buying an additional 33 shares in the last quarter. Finally, White Wing Wealth Management lifted its stake in shares of Alphabet by 2.9% in the fourth quarter. White Wing Wealth Management now owns 1,155 shares of the information services provider’s stock valued at $362,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director owned 18,621 shares in the company, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,481 shares of company stock valued at $27,422,061 in the last three months. 11.61% of the stock is owned by corporate insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google I/O announcements reinforced the company’s AI monetization story, with new ad formats, shopping tools, and Gemini-based products that could lift search and commerce revenue. Alphabet’s new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Several analysts reiterated bullish or supportive views on Alphabet after I/O, including price-target increases that point to more upside if AI rollout gains traction. Analyst rating updates on Alphabet
• Positive Sentiment: Google’s broader AI push remains a tailwind for Alphabet, with articles highlighting strong cloud/AI demand and growing usage across Gemini and AI Overviews. 4 Cloud Computing Stocks Benefiting From AI-Driven Demand
• Positive Sentiment: Alphabet continues to win favorable Wall Street coverage, including multiple buy ratings and raised targets, which can help support the stock near recent highs. Alphabet’s Googlebook Brings Gemini AI to PC Hardware
• Neutral Sentiment: Alphabet’s quarterly dividend increase and continued strong earnings remain supportive, but these were already known catalysts rather than a fresh surprise for traders. Alphabet stock performance and company details
• Neutral Sentiment: There was also a routine insider sale by a director, which may get attention but does not by itself change the company’s long-term outlook. SEC filing
• Neutral Sentiment: Alphabet’s new AI search experience has sparked debate about the future of web traffic and search behavior, but this is more of a strategic overhang than an immediate earnings issue. Google is going to ruin the internet
• Negative Sentiment: Waymo suspended freeway robotaxi rides and paused Atlanta operations while it fixes software problems in construction zones and flooded roads, raising short-term safety and execution concerns for Alphabet’s self-driving unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Additional reports said Waymo paused service in multiple cities after robotaxis struggled in heavy rain and construction zones, reinforcing concerns about rollout reliability. Waymo halts freeway rides after robotaxis struggle in construction zones
• Negative Sentiment: Regulatory and public-safety scrutiny is also building around Google’s platforms, including EU complaints over financial scams and UK child-safety criticism on YouTube. Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Alphabet Stock Performance

Shares of GOOGL stock opened at $387.66 on Friday. The firm has a 50-day moving average of $336.26 and a 200-day moving average of $320.82. The company has a market cap of $4.70 trillion, a P/E ratio of 29.57, a P/E/G ratio of 1.66 and a beta of 1.26. 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 Inc. has a one year low of $162.00 and a one year high of $408.61.

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

Alphabet Increases Dividend

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

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. HSBC raised their price objective on shares of Alphabet from $385.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. Daiwa Securities Group raised their price objective on shares of Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, February 16th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Two research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $412.65.

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.