MLP3 LLC Takes $455,000 Position in Alphabet Inc. $GOOGL

MLP3 LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,453 shares of the information services provider’s stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphabet during the third quarter worth $416,217,000. NewEdge Wealth LLC lifted its holdings in shares of Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after purchasing an additional 93,293 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new stake in Alphabet during the fourth quarter worth about $28,902,000. Private Advisory Group LLC raised its holdings in Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock worth $7,736,000 after acquiring an additional 2,678 shares in the last quarter. Finally, Berkshire Hathaway Inc acquired a new position in Alphabet during the third quarter worth approximately $4,338,397,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 2.7%

Shares of GOOGL opened at $369.35 on Tuesday. The stock’s 50-day moving average price is $361.93 and its two-hundred day moving average price is $330.66. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.48 trillion, a PE ratio of 28.17, a PEG ratio of 1.54 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share 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 firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. On average, analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is 6.71%.

Alphabet News Roundup

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Loop Capital upped their target price on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research report on Friday, May 15th. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada set a $425.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, April 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, May 20th. Finally, Evercore raised their target price on Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated 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 $7,132,701. The trade was a 0.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 191,966 shares of company stock worth $16,963,968 over the last three months. 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.