WealthPoint Financial LLC Takes $788,000 Position in Alphabet Inc. $GOOGL

WealthPoint Financial LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, Holdings Channel reports. The institutional investor bought 2,517 shares of the information services provider’s stock, valued at approximately $788,000.

Several other large investors also recently added to or reduced their stakes in GOOGL. Symmetry Partners LLC raised its holdings in Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares in the last quarter. Members Trust Co lifted its position in shares of Alphabet by 0.5% in the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after buying an additional 31 shares during the last quarter. Altfest L J & Co. Inc. boosted its stake in shares of Alphabet by 0.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after acquiring an additional 31 shares in the last quarter. Insight 2811 Inc. boosted its stake in shares of Alphabet by 1.0% during the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after acquiring an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC increased its holdings in shares of Alphabet by 0.4% during the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after acquiring an additional 32 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director directly owned 2,531 shares in the company, valued at $995,341.06. This trade represents a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,516 shares of company stock valued at $7,344,604 in the last three months. 11.61% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Phillip Securities raised their price objective on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research note on Wednesday, April 15th. Arete Research upped their target price on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Oppenheimer increased their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Susquehanna reissued a “positive” rating and issued a $460.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Truist Financial set a $430.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story got another boost after reports highlighted strong earnings momentum and a rapidly expanding Google Cloud backlog, reinforcing the view that business demand remains healthy. Alphabet Just Beat Earnings by 94% and Doubled Its Cloud Backlog to $460 Billion
• Positive Sentiment: Berkshire Hathaway disclosed that it nearly tripled its Alphabet stake, a notable vote of confidence from a major value investor that may support sentiment. Warren Buffett Just Tripled Down on the Stock Bill Ackman Is Selling
• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand AI usage, adding another large enterprise customer to Alphabet’s cloud growth narrative. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google unveiled new AI-related plans, including an “AI Control Roadmap” to address rogue AI agents, underscoring continued investment and leadership in AI infrastructure and safety. Google Devises Battle Plan to Combat Rogue AI Agents
• Neutral Sentiment: Google’s AI talent war remains a focus after Noam Shazeer, a co-lead on Gemini, reportedly left for OpenAI, which may raise questions about retention but does not change the core business overnight. Google’s Gemini co-lead Noam Shazeer to join OpenAI
• Negative Sentiment: Waymo issued a recall of about 3,900 robotaxis after software issues caused vehicles to enter highway construction zones, adding regulatory and execution risk to Alphabet’s self-driving unit. Waymo to recall over 3,800 robotaxis over risk of entering closed construction zones
• Negative Sentiment: A director sold a meaningful block of shares, which can modestly weigh on sentiment even though insider sales are not always a bearish signal. SEC filing for John L. Hennessy sale

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $368.48 on Friday. The business has a 50 day moving average price of $366.01 and a 200 day moving average price of $331.69. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.56 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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 return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced 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 represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is an increase 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%.

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.