Kestra Private Wealth Services LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,688 shares of the information services provider’s stock after selling 5,412 shares during the period. Alphabet makes up 1.5% of Kestra Private Wealth Services LLC’s portfolio, making the stock its 5th biggest position. Kestra Private Wealth Services LLC’s holdings in Alphabet were worth $125,287,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the 4th quarter worth approximately $32,000. EMC Capital Management bought a new stake in Alphabet in the fourth quarter valued at $33,000. PMV Capital Advisers LLC bought a new stake in Alphabet in the fourth quarter valued at $38,000. IFC & Insurance Marketing Inc. acquired a new position in Alphabet during the fourth quarter worth $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter worth $52,000. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 151,467 shares of company stock worth $4,877,600. Company insiders own 11.61% of the company’s stock.
Alphabet Trading Up 1.1%
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share 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 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.
Analysts Set New Price Targets
Several research firms have recently weighed in on GOOGL. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Monday, June 22nd. The Goldman Sachs Group boosted their price target on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Robert W. Baird upped their price objective on shares of Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Mizuho raised their price objective on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Two equities 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’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.90.
View Our Latest Report on GOOGL
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, which boosted demand for the shares and highlighted the company’s growing importance in AI and large-cap tech. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
- Positive Sentiment: Several reports pointed to bullish Wall Street views, including a higher price target from analysts and commentary that Alphabet remains a strong long-term growth stock. Alphabet Replaces Verizon In Dow Jones As Analyst Boosts Target To $415
- Positive Sentiment: Google introduced Nano Banana 2 Lite, a faster and cheaper AI image/video generator, which may strengthen its competitive position in generative AI. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
- Positive Sentiment: Visa and Google signed on to use the OpenUSD stablecoin for money movement, expanding Alphabet’s presence in digital payments and emerging commerce infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
- Neutral Sentiment: One director disclosed a small stock sale, which is routine and not large enough to signal a major change in fundamentals. Director Frances Arnold sold 112 shares of Alphabet stock
- Negative Sentiment: UK regulators are targeting Apple and Google app-store fees and payment restrictions, which could pressure Alphabet’s services revenue and app platform economics if rules are tightened. UK targets Apple, Google app store fees for developers
- Negative Sentiment: Some AI-related headlines noted talent loss to rivals and ongoing concerns about regulatory and AI-related risks, which may limit upside enthusiasm near term. Google hit by new AI brain drain as Anthropic poaches top Gemini talent
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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