COFG Advisors LLC Invests $3.79 Million in Alphabet Inc. $GOOG

COFG Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,077 shares of the information services provider’s stock, valued at approximately $3,790,000. Alphabet makes up about 0.9% of COFG Advisors LLC’s holdings, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Imprint Wealth LLC acquired a new stake in shares of Alphabet during the third quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Towne Trust Company N.A lifted its holdings in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Alphabet by 29.0% in the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock worth $63,000 after purchasing an additional 58 shares during the period. Finally, Creative Capital Management Investments LLC increased its position in shares of Alphabet by 1,438.5% in the fourth quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock worth $63,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 193,016 shares of company stock valued at $17,282,549. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $362.29 on Wednesday. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $353.44 and its two-hundred day moving average price is $328.39. The stock has a market cap of $4.39 trillion, a PE ratio of 27.63, a P/E/G ratio of 1.55 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the previous year, the business posted $2.81 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced 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. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Gemini usage growth and strong Google Cloud momentum suggest Alphabet’s AI strategy is gaining traction and could support future revenue growth.
• Positive Sentiment: TD Cowen raised its price target to $475 and reiterated a buy rating, signaling continued Wall Street confidence in Alphabet’s upside.
• Positive Sentiment: Analysts and investors continue to view Alphabet as a long-term compounder with durable Search cash flow plus cloud and AI expansion. Article Title
• Neutral Sentiment: Alphabet’s new capital-raising and AI infrastructure spending plans could help fund growth, but they also create uncertainty about near-term cash flow and dilution.
• Negative Sentiment: Reports that Alphabet is paying SpaceX about $920 million per month for AI compute add to concerns that the company is leaning on outside infrastructure to meet AI demand, increasing costs in the near term.
• Negative Sentiment: Recent commentary suggests investors are worried that elevated AI capex could pressure margins if the payoff from AI products takes longer than expected.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOG. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 1st. Needham & Company LLC set a $400.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Finally, Truist Financial set a $430.00 price target on Alphabet in a research report on Monday, June 1st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $376.78.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.