Steelhead Wealth Management LLC Buys Shares of 1,871 Alphabet Inc. $GOOGL

Steelhead Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,871 shares of the information services provider’s stock, valued at approximately $538,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $30,534,239,000. Cardano Risk Management B.V. grew its holdings in shares of Alphabet by 855.3% in the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. Capital World Investors increased its stake in Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after buying an additional 11,605,785 shares during the period. Finally, Diamant Asset Management Inc. increased its stake in Alphabet by 28,950.0% in the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock worth $2,671,986,000 after buying an additional 9,259,940 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOGL. DA Davidson set a $350.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Susquehanna reaffirmed a “positive” rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Daiwa Securities Group raised their target price on shares of Alphabet from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. KeyCorp lifted their price target on shares of Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, The Goldman Sachs Group boosted their price target on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Buy” and an average target price of $419.86.

Alphabet Price Performance

Shares of GOOGL opened at $362.43 on Thursday. The company has a 50 day moving average price of $356.85 and a 200-day moving average price of $340.12. Alphabet Inc. has a fifty-two week low of $193.67 and a fifty-two week high of $408.61. The stock has a market capitalization of $4.43 trillion, a PE ratio of 18.20, a PEG ratio of 1.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Equities analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be 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 of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly discussing a potential deal valued at more than $1.5 billion with AI coding-agent startup Mechanize. The arrangement could provide access to specialized talent and technology in a rapidly expanding AI application market. Google is in talks for a $1.5 billion-plus deal with AI coding agent startup Mechanize
• Positive Sentiment: Alphabet continues to benefit from strong fundamentals and AI-related growth opportunities, including its cloud business, advertising franchise and direct sales of custom Tensor Processing Units. Analysts remain broadly optimistic about the stock’s long-term growth prospects. Is Alphabet a Solid Growth Stock?
• Positive Sentiment: Alphabet-owned Waymo opened its Dallas robotaxi service to all residents and visitors, supporting the company’s effort to scale autonomous-driving operations. Waymo opens up robotaxi service in Dallas to everyone
• Neutral Sentiment: Demis Hassabis is moving from leading Google DeepMind into an Alphabet chief scientist role focused on long-term research and AI safety. Management described the move as a leadership realignment, but investors are weighing whether it could disrupt near-term product execution. Google shakes up AI leadership as DeepMind chief shifts role
• Negative Sentiment: Longtime chief scientist Jeff Dean and three other senior AI researchers are leaving Google to launch Discovery Loop, an AI startup focused on automated research and drug design. The departures intensify concerns over the loss of influential technical talent during the AI race. Google chief scientist Jeff Dean leaving in AI reshuffle
• Negative Sentiment: The leadership overhaul comes while Google’s latest flagship Gemini release remains delayed, increasing investor anxiety about product momentum and competitive positioning. Why is Alphabet stock falling?
• Negative Sentiment: A U.K. tribunal allowed a roughly $6.7 billion advertiser class action to proceed, adding to Alphabet’s regulatory and legal exposure in its search and advertising businesses. UK Tribunal Rejects Google Bid to Block Advertiser Class Action

Insider Buying and Selling

In other news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 600,547 shares of company stock worth $16,255,540 over the last quarter. Insiders own 11.61% of the company’s stock.

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.