Rockefeller Capital Management L.P. Has $1.33 Billion Stock Position in Alphabet Inc. $GOOGL

Rockefeller Capital Management L.P. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,258,226 shares of the information services provider’s stock after buying an additional 55,876 shares during the quarter. Alphabet makes up about 2.4% of Rockefeller Capital Management L.P.’s investment portfolio, making the stock its 5th largest position. Rockefeller Capital Management L.P.’s holdings in Alphabet were worth $1,332,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Bank of New Hampshire raised its stake in Alphabet by 1.0% during the fourth quarter. Bank of New Hampshire now owns 42,635 shares of the information services provider’s stock worth $13,345,000 after acquiring an additional 411 shares in the last quarter. Osbon Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at $611,000. Lane Brothers & Co. Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at $855,000. Fund Advisors of America Inc FL bought a new stake in shares of Alphabet in the 4th quarter worth about $841,000. Finally, World Investment Advisors grew its holdings in shares of Alphabet by 9.2% in the 4th quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock worth $86,000,000 after purchasing an additional 23,107 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $349.68 on Tuesday. The company has a 50 day moving average price of $367.66 and a 200 day moving average price of $332.31. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market capitalization of $4.24 trillion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Monday, May 4th. BNP Paribas Exane upped their price objective on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. KeyCorp reaffirmed an “overweight” rating and set a $425.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Truist Financial set a $430.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, Evercore boosted their target price on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a report 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best “Magnificent Seven” AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google’s Self-Driving Dream Hitting a Wall?

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,516 shares of company stock valued at $7,344,604 over the last ninety days. Company insiders own 11.61% of the company’s stock.

Alphabet Company Profile

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.