Cogent Private Wealth Inc. Takes $759,000 Position in Alphabet Inc. $GOOG

Cogent Private Wealth Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,420 shares of the information services provider’s stock, valued at approximately $759,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ring Mountain Capital LLC grew its position in shares of Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after purchasing an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. grew its position in Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after buying an additional 30 shares in the last quarter. HRC Wealth Management LLC grew its position in Alphabet by 1.0% during the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after buying an additional 31 shares in the last quarter. Certior Financial Group LLC grew its position in Alphabet by 3.5% during the fourth quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after buying an additional 31 shares in the last quarter. Finally, Synergy Investment Management LLC grew its position in Alphabet by 0.8% during the fourth quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock worth $1,294,000 after buying an additional 31 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet News Roundup

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.

Alphabet Stock Performance

NASDAQ:GOOG opened at $362.29 on Wednesday. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The firm has a 50 day moving average of $353.44 and a 200-day moving average of $328.39. 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 stock has a market capitalization of $4.39 trillion, a P/E ratio of 27.63, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.81 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 14.29 EPS 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction 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 transaction, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOG. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Needham & Company LLC set a $400.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Scotiabank restated an “outperform” rating and set a $450.00 price target (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Truist Financial set a $430.00 price target on shares of Alphabet in a research note on Monday, June 1st. Five investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.