Torrey Payne Wealth Management LLC Makes New $460,000 Investment in Alphabet Inc. $GOOGL

Torrey Payne Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,380 shares of the information services provider’s stock, valued at approximately $460,000. Alphabet accounts for 0.4% of Torrey Payne Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its position in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after acquiring an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank raised its stake in shares of Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after acquiring an additional 3,120 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director directly owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,516 shares of company stock valued at $7,344,604 in the last 90 days. Company insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $368.48 on Friday. The stock’s 50-day moving average is $366.01 and its two-hundred day moving average is $331.69. The firm 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. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last posted 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. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared 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%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Citizens Jmp reissued a “market outperform” rating and issued a $515.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Cantor Fitzgerald upped their price target on Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. UBS Group restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Tigress Financial set a $415.00 price objective on Alphabet and gave the company a “strong-buy” rating in a research note on Thursday, February 19th. Two investment 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $413.13.

More Alphabet News

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 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.