Lifeworks Advisors LLC Has $2.57 Million Stake in Alphabet Inc. $GOOGL

Lifeworks Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 62.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,950 shares of the information services provider’s stock after acquiring an additional 3,444 shares during the quarter. Lifeworks Advisors LLC’s holdings in Alphabet were worth $2,574,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. NewEdge Wealth LLC increased its holdings in Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after buying an additional 93,293 shares during the period. PFG Investments LLC lifted its holdings in shares of Alphabet by 2.6% during the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider’s stock worth $25,679,000 after acquiring an additional 2,269 shares during the period. World Investment Advisors boosted its position in shares of Alphabet by 9.2% during the 4th quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock worth $86,000,000 after acquiring an additional 23,107 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $28,902,000. Finally, Private Advisory Group LLC increased its stake in Alphabet by 12.2% in the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after acquiring an additional 2,678 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. Truist Financial set a $430.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. BNP Paribas Exane boosted their price target on Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Phillip Securities upped their price objective on Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a research report on Wednesday, April 15th. Finally, Evercore upped their price objective on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $414.54.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet

Alphabet Stock Down 1.5%

Shares of NASDAQ:GOOGL opened at $342.09 on Thursday. Alphabet Inc. has a 52-week low of $187.82 and a 52-week high of $408.61. The company has a market capitalization of $4.14 trillion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a fifty day moving average of $366.14 and a 200-day moving average of $338.86.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $6.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts predict that Alphabet Inc. will post 14.34 EPS for the current fiscal 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. 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 6.71%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred 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. In the last 90 days, insiders sold 159,415 shares of company stock valued at $7,672,279. Corporate 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.