Mill Creek Capital Advisors LLC Sells 3,101 Shares of Alphabet Inc. $GOOGL

Mill Creek Capital Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,202 shares of the information services provider’s stock after selling 3,101 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Alphabet were worth $7,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PMV Capital Advisers LLC bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $52,000. Kentucky Trust Co boosted its stake in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 100 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Alphabet in the third quarter valued at approximately $53,000. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 2.7%

Shares of NASDAQ:GOOGL opened at $369.35 on Tuesday. Alphabet Inc. has a 12 month low of $162.00 and a 12 month 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 company’s fifty day simple moving average is $361.93 and its 200 day simple moving average is $330.66. The firm has a market cap of $4.48 trillion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.54 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS 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 business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 191,966 shares of company stock worth $16,963,968. 11.61% of the stock is currently owned by insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Phillip Securities raised their price objective on shares of Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research note on Wednesday, April 15th. Truist Financial set a $430.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, May 20th. Loop Capital lifted their price target on shares of Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, 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. Two research 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 company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $413.13.

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.