Mill Creek Capital Advisors LLC Has $7.26 Million Position in Alphabet Inc. $GOOGL

Mill Creek Capital Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,202 shares of the information services provider’s stock after selling 3,101 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Alphabet were worth $7,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. PMV Capital Advisers LLC acquired a new stake in Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet in the 4th quarter valued at $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $52,000. Kentucky Trust Co increased its stake in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Alphabet during the 3rd quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the transaction, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 191,966 shares of company stock worth $16,963,968. Corporate insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Rothschild & Co Redburn boosted their price objective on shares of Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Mizuho boosted their price objective on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Evercore boosted their price objective on shares of Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Robert W. Baird boosted 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, BMO Capital Markets boosted their price objective on shares of Alphabet from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Two investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $413.13.

Alphabet Stock Performance

Shares of GOOGL stock opened at $369.35 on Tuesday. The company has a market capitalization of $4.48 trillion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.54 and a beta of 1.23. 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 company has a 50-day simple moving average of $361.93 and a 200 day simple moving average of $330.66. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, sell-side analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is 6.71%.

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.