Lane Brothers & Co. Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,732 shares of the information services provider’s stock, valued at approximately $855,000.
Several other hedge funds also recently modified their holdings of GOOGL. EMC Capital Management bought a new position in Alphabet during the 4th quarter valued at $33,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the 4th quarter worth $32,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet in the 4th quarter worth $38,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on GOOGL shares. Loop Capital boosted their price target on shares of Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Bank of America lifted their target price on shares of Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Wednesday, June 3rd. CICC Research increased their price target on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $413.13.
Alphabet Trading Down 5.0%
Shares of Alphabet stock opened at $349.68 on Tuesday. The stock has a market capitalization of $4.24 trillion, a P/E ratio of 26.67, a P/E/G ratio of 1.57 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 debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s 50-day simple moving average is $367.66 and its 200 day simple moving average is $332.31.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.
More Alphabet News
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 related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the 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 SEC, which is available at the SEC website. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,516 shares of company stock worth $7,344,604 in the last three months. 11.61% of the stock is currently owned by corporate insiders.
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.
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