Millennium Capital Advisors LLC Makes New $4.04 Million Investment in Alphabet Inc. $GOOGL

Millennium Capital Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,899 shares of the information services provider’s stock, valued at approximately $4,038,000. Alphabet comprises approximately 2.4% of Millennium Capital Advisors LLC’s holdings, making the stock its 8th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan lifted its stake in shares of Alphabet by 9.5% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 275,275 shares of the information services provider’s stock valued at $86,161,000 after purchasing an additional 23,838 shares in the last quarter. O Brien Greene & Co. Inc lifted its position in Alphabet by 2.7% during the 4th quarter. O Brien Greene & Co. Inc now owns 4,520 shares of the information services provider’s stock worth $1,415,000 after acquiring an additional 120 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in Alphabet by 34.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,750 shares of the information services provider’s stock worth $548,000 after purchasing an additional 451 shares during the last quarter. WealthPlan Investment Management LLC increased its holdings in Alphabet by 145.7% during the 4th quarter. WealthPlan Investment Management LLC now owns 65,593 shares of the information services provider’s stock worth $20,531,000 after purchasing an additional 38,898 shares during the last quarter. Finally, Dana Investment Advisors Inc. increased its holdings in Alphabet by 11.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 355,764 shares of the information services provider’s stock worth $111,354,000 after purchasing an additional 35,490 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $372.19 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The stock’s 50-day moving average is $351.15 and its two-hundred day moving average is $327.52. The firm has a market cap of $4.51 trillion, a P/E ratio of 28.39, a PEG ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Analysts predict that Alphabet Inc. will post 14.28 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is 6.71%.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction that occurred 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 $14,293,309.12. This trade represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 193,016 shares of company stock worth $17,282,549. 11.61% of the stock is currently owned by corporate insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet raised its capital plan to $84.75 billion to fund AI infrastructure and cloud capacity, signaling it expects strong demand for compute and is willing to invest heavily to protect and grow its long-term AI position. Reuters article
• Positive Sentiment: Apple reportedly tapped Google Cloud to help power a revamped Siri, which could add a high-profile customer for Alphabet’s cloud business and reinforce its AI infrastructure monetization story. PYMNTS article
• Positive Sentiment: Lovable expanded its multi-year Google Cloud relationship, another sign that Google Cloud is winning AI-related usage and customer growth. TechCrunch article
• Positive Sentiment: Needham reiterated a buy rating and a $450 price target, reflecting continued analyst confidence in Alphabet’s cloud and AI growth potential. Benzinga article
• Neutral Sentiment: Several prominent investors, including Berkshire Hathaway and ARK, were reported as buying Alphabet shares, which supports sentiment but does not change fundamentals on its own. Barron’s article
• Neutral Sentiment: Alphabet also received a softer-than-feared UK antitrust ruling that requires new conduct changes and lets publishers opt out of AI training, which may limit some data use but reduces the risk of a harsher regulatory outcome. Reuters article
• Negative Sentiment: Reports that Google is quietly laying off staff in Cloud, including parts of its cybersecurity team, may weigh on sentiment by raising questions about cost discipline and internal restructuring. Business Insider article

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. Arete Research boosted their price target on Alphabet from $405.00 to $425.00 and gave the company a “buy” rating in a report on Monday, May 18th. BNP Paribas Exane boosted their price target on Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Roth Mkm restated a “buy” rating on shares of Alphabet in a research report on Thursday, April 30th. Morgan Stanley upped their price objective on Alphabet from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, BMO Capital Markets upped their price objective on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $413.04.

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.