Simplicity Wealth LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 13.9% in the 1st quarter, Holdings Channel reports. The firm owned 40,662 shares of the information services provider’s stock after purchasing an additional 4,953 shares during the period. Alphabet accounts for 0.7% of Simplicity Wealth LLC’s investment portfolio, making the stock its 27th largest holding. Simplicity Wealth LLC’s holdings in Alphabet were worth $11,693,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewEdge Wealth LLC grew its position in shares of Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after purchasing an additional 93,293 shares during the last quarter. PFG Investments LLC increased its position in shares of Alphabet by 2.6% in the first quarter. PFG Investments LLC now owns 89,299 shares of the information services provider’s stock worth $25,679,000 after purchasing an additional 2,269 shares during the period. World Investment Advisors increased its holdings in Alphabet by 9.2% in the 4th quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock valued at $86,000,000 after buying an additional 23,107 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new position in Alphabet in the fourth quarter valued at approximately $28,902,000. Finally, Private Advisory Group LLC increased its stake in shares of Alphabet by 12.2% in the 4th quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after purchasing an additional 2,678 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google is reportedly developing a new AI server chip to make Gemini run more efficiently, which could improve performance and reduce infrastructure costs. Reuters: Google plans new chip to run Gemini models more efficiently
- Positive Sentiment: Shares were also lifted by reports that Alphabet’s AI chip initiative could strengthen its competitive position against Nvidia and support its broader AI rollout. Yahoo Finance: Alphabet stock gains on report of next-generation AI chip project
- Positive Sentiment: Analysts and market commentators say Alphabet’s upcoming Q2 results could be supported by Search ad strength, Cloud growth, and rising subscriptions, with expectations for an earnings surprise still elevated. Zacks: Will Alphabet’s Q2 Earnings Reignite the Tech Rally?
- Positive Sentiment: Wall Street analysts remain generally constructive on Alphabet ahead of earnings, with some notes suggesting meaningful upside from current levels. Zacks: Wall Street Analysts Think Alphabet (GOOGL) Is a Good Investment: Is It?
- Neutral Sentiment: Alphabet’s upcoming earnings report is expected to be a major event for the stock, with traders bracing for a potentially large move depending on guidance and AI capex plans. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
- Neutral Sentiment: Several articles highlighted Alphabet as one of this week’s most closely watched earnings names, but these were largely preview pieces rather than new fundamental developments. Proactive Investors: Week ahead: Wall Street gears up for volatility as Big Tech earnings kick into high gear
- Negative Sentiment: One New York Times report criticized Google’s AI search features as potentially harming the open web, which could add regulatory and reputational pressure over time. NYT: How Google’s A.I. Search Is Imperiling the Open Web
- Negative Sentiment: Two securities-fraud investigation notices may create some headline overhang, although they are routine plaintiff-lawyer announcements and not evidence of new wrongdoing. Globe Newswire: Securities Fraud Investigation Into Alphabet Inc. (GOOG) Continues
Insider Activity at Alphabet
Analyst Upgrades and Downgrades
A number of analysts have recently commented on GOOGL shares. Mizuho lifted their price target on Alphabet from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $455.00 price objective (up from $435.00) on shares of Alphabet in a research note on Friday. Citizens Jmp reiterated a “market outperform” rating and issued a $515.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Oppenheimer lifted their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $414.11.
Get Our Latest Stock Analysis on Alphabet
Alphabet Stock Up 1.5%
Alphabet stock opened at $351.99 on Tuesday. The firm has a 50 day simple moving average of $368.16 and a 200 day simple moving average of $338.41. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $186.15 and a 1-year high of $408.61. The firm has a market capitalization of $4.26 trillion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.44 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, analysts predict that Alphabet Inc. will post 14.33 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date 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 yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.
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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