Platform Wealth Management LLC Invests $25.13 Million in Alphabet Inc. $GOOGL

Platform Wealth Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,558 shares of the information services provider’s stock, valued at approximately $25,134,000. Alphabet makes up approximately 6.7% of Platform Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds have also made changes to their positions in GOOGL. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Kentucky Trust Co lifted its position in shares of Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Alphabet during the third quarter worth about $53,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $69,000. Finally, WHI TRUST Co LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $72,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $356.38 on Thursday. The firm has a market capitalization of $4.32 trillion, a P/E ratio of 27.18, a P/E/G ratio of 1.56 and a beta of 1.23. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $357.80 and its two-hundred day moving average is $329.64.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOGL shares. Guggenheim reissued a “buy” rating and set a $450.00 price target (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Loop Capital raised their target price on shares of Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a report on Friday, May 15th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $393.00 target price on shares of Alphabet in a report on Thursday, May 21st. Daiwa Securities Group raised their target price on shares of Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, China Renaissance raised their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts turned more optimistic on Alphabet’s 2027 outlook, citing strong AI and Google Cloud growth potential. Veteran Analyst Firm Resets Alphabet Forecast for 2027
• Positive Sentiment: Google introduced new Gemini features for small businesses, which could help drive AI adoption and future subscription revenue. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Coverage highlighted Alphabet as a strong long-term growth story, supported by Search, Cloud, and AI. Why Alphabet (GOOGL) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Google Cloud disruption in India from a third-party facility fire appears temporary, but it underscores operational and infrastructure risk. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Alphabet’s bid for a new trial in the youth social media addiction case, keeping litigation risk alive for YouTube. Market Chatter: Google, Meta Platforms Denied New Trial in Youth Social Media Addiction Case by California Judge
• Negative Sentiment: Reports of Gemini/Google Workspace AI errors and downtime may weigh on sentiment around product reliability. Gemini Is Down? Live Updates on Google Workspace’s AI Errors

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director owned 2,531 shares in the company, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last three months. 11.61% of the stock is currently owned by insiders.

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.