Summit Wealth Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 406.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,320 shares of the information services provider’s stock after buying an additional 6,677 shares during the period. Summit Wealth Partners LLC’s holdings in Alphabet were worth $2,392,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. CIBC Bancorp USA Inc. bought a new position in shares of Alphabet in the third quarter valued at $416,217,000. NewEdge Wealth LLC grew its position in shares of 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 acquiring an additional 93,293 shares during the period. World Investment Advisors grew its position in shares of 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 acquiring an additional 23,107 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new position in shares of Alphabet during the 4th quarter worth about $28,902,000. Finally, Private Advisory Group LLC increased its stake in shares of Alphabet by 12.2% during the 4th quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock worth $7,736,000 after purchasing an additional 2,678 shares during the last quarter. 40.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent analyst reports. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Rosenblatt Securities restated a “neutral” rating and issued a $393.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. Royal Bank Of Canada set a $425.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Thursday, April 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday, June 22nd. Finally, Daiwa Securities Group boosted their target price on Alphabet from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $413.13.
Alphabet Price Performance
NASDAQ:GOOGL opened at $337.39 on Friday. Alphabet Inc. has a 52 week low of $171.73 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 firm’s 50-day simple moving average is $368.94 and its 200 day simple moving average is $332.88. The firm has a market cap of $4.09 trillion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.47 and a beta of 1.23.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 14.3 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. Investors 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. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.
Insider Buying and Selling
In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 151,523 shares of company stock worth $4,863,526. 11.61% of the stock is owned by corporate insiders.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
- Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
- Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here’s Who the Real Winner Is.
- Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
- Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
- Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
- Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
- Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment
Alphabet 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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