Miracle Mile Advisors LLC Buys 22,269 Shares of Alphabet Inc. $GOOGL

Miracle Mile Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 19.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,371 shares of the information services provider’s stock after buying an additional 22,269 shares during the period. Miracle Mile Advisors LLC’s holdings in Alphabet were worth $32,909,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOGL. Breakwater Investment Management grew its holdings in Alphabet by 1.0% during the third quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock valued at $1,028,000 after purchasing an additional 41 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in shares of Alphabet by 1.0% in the third quarter. Wealth Alliance Advisory Group LLC now owns 4,045 shares of the information services provider’s stock worth $983,000 after buying an additional 41 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Alphabet by 2.9% in the third quarter. Contravisory Investment Management Inc. now owns 1,572 shares of the information services provider’s stock worth $382,000 after buying an additional 44 shares during the last quarter. Wallington Asset Management LLC boosted its holdings in shares of Alphabet by 1.4% during the 3rd quarter. Wallington Asset Management LLC now owns 3,324 shares of the information services provider’s stock worth $808,000 after buying an additional 45 shares during the period. Finally, LongView Wealth Management grew its stake in Alphabet by 1.2% in the 3rd quarter. LongView Wealth Management now owns 3,817 shares of the information services provider’s stock valued at $928,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $325.44 on Friday. The stock’s 50 day simple moving average is $305.24 and its 200-day simple moving average is $247.60. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.93 trillion, a PE ratio of 32.09, a P/E/G ratio of 1.78 and a beta of 1.08. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $330.32.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet has overtaken Apple to become the world’s second-most valuable public company, a market-cap milestone that signals investor confidence in Google’s AI-led growth story and may attract ETF flows and index-related buying. Google Claims Apple’s Spot on Most-Valuable-Companies List
• Positive Sentiment: Broker and media coverage has turned more bullish (upgrades and optimistic price-target notes), reinforcing momentum and giving investors confidence in further upside tied to Gemini/AI and search monetization. Alphabet Stock Gets an Upgrade. How Google Will Beat ChatGPT.
• Positive Sentiment: EU discussions reportedly spare Big Tech from the strictest aspects of a digital-rule overhaul, easing regulatory risk for Google’s ad and cloud businesses in Europe. Big Tech spared strict rules in EU digital rule overhaul
• Neutral Sentiment: EU antitrust regulators will rule on Alphabet’s $32B Wiz acquisition by Feb. 10 — a clear catalyst but with an uncertain outcome; approval would remove an overhang, while objections could delay or alter the deal. EU antitrust regulators to decide on Google’s Wiz deal by Feb 10
• Neutral Sentiment: Google and Character.AI reached settlements in lawsuits alleging chatbots harmed minors — this cuts litigation uncertainty but keeps reputation and product-safety issues on investors’ radars. Google and Character.AI to Settle Lawsuit Over Teenager’s Death
• Neutral Sentiment: CEO Sundar Pichai sold 32,500 shares (~$10.4M), a disclosed insider sale that slightly reduces his stake but appears routine and not an obvious signal of impaired fundamentals. SEC filing: Insider sale
• Negative Sentiment: Competitor dynamics: Nvidia hired a former Google marketing executive as CMO, underscoring intense competition for AI talent and marketing muscle in the AI infrastructure space — a subtle competitive headwind to watch. Nvidia Hires Google Veteran as Its First Chief Marketing Officer

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the sale, the chief accounting officer directly owned 8,962 shares in the company, valued at approximately $2,798,832.60. This represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $308.19, for a total value of $184,914.00. Following the completion of the transaction, the director directly owned 3,916 shares of the company’s stock, valued at approximately $1,206,872.04. The trade was a 13.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 225,187 shares of company stock valued at $66,695,036 over the last 90 days. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $340.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Guggenheim reaffirmed a “buy” rating and issued a $375.00 price target (up from $330.00) on shares of Alphabet in a research report on Monday, December 1st. Finally, CIBC increased their price objective on Alphabet to $315.00 in a research report on Monday, October 20th. Four investment analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $322.42.

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.