Cane Capital Partners LLC Sells 8,160 Shares of Alphabet Inc. $GOOGL

Cane Capital Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 59,031 shares of the information services provider’s stock after selling 8,160 shares during the period. Alphabet accounts for approximately 7.4% of Cane Capital Partners LLC’s investment portfolio, making the stock its biggest holding. Cane Capital Partners LLC’s holdings in Alphabet were worth $16,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth approximately $30,534,239,000. Berkshire Hathaway Inc bought a new position in shares of Alphabet during the third quarter worth approximately $4,338,397,000. Cardano Risk Management B.V. increased its stake in shares of Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the period. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Finally, Capital World Investors lifted its holdings in Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GOOGL shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Rosenblatt Securities reissued a “neutral” rating and set a $393.00 target price on shares of Alphabet in a report on Thursday, May 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. President Capital boosted their target price on shares of Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $413.54.

Alphabet Stock Down 0.8%

Shares of NASDAQ GOOGL opened at $358.89 on Friday. The stock has a market capitalization of $4.35 trillion, a P/E ratio of 27.38, a PEG ratio of 1.55 and a beta of 1.24. The stock’s fifty day moving average is $372.47 and its 200 day moving average is $336.30. Alphabet Inc. has a 52 week low of $174.38 and a 52 week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
• Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
• Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
• Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
• Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
• Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
• Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
• Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. 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 stock in a transaction on 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 160,465 shares of company stock valued at $8,020,511 over the last quarter. 11.61% of the stock is currently owned by company insiders.

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.