Meadowbrook Advisors Group LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 4th quarter, Holdings Channel reports. The fund purchased 15,223 shares of the information services provider’s stock, valued at approximately $4,765,000. Alphabet comprises about 2.7% of Meadowbrook Advisors Group LLC’s holdings, making the stock its 5th largest position.
Other large investors have also modified their holdings of the company. DUTCH ASSET Corp bought a new stake in Alphabet in the 4th quarter valued at about $3,250,000. Larry Mathis Financial Planning LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $1,226,000. Green Ridge Wealth Planning LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $6,483,000. Downshift Financial LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $298,000. Finally, Advisortrust Partners LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $986,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Trading Down 5.0%
Shares of Alphabet stock opened at $349.68 on Tuesday. The business has a fifty day simple moving average of $367.66 and a 200-day simple moving average of $332.31. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. 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 an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction 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 sale, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 160,516 shares of company stock valued at $7,344,604. Corporate insiders own 11.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on GOOGL shares. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $435.00 price target (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Arete Research increased their price target on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. BMO Capital Markets raised their price target on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Roth Mkm restated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Two equities research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.
Read Our Latest Stock Report on GOOGL
Key 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?
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.
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