3,228 Shares in Alphabet Inc. $GOOGL Acquired by Cornerstone Financial Management LLC

Cornerstone Financial Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,228 shares of the information services provider’s stock, valued at approximately $1,010,000.

Several other hedge funds also recently bought and sold shares of GOOGL. PMV Capital Advisers LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet during the fourth quarter worth about $38,000. Bard Associates Inc. bought a new position in Alphabet during the fourth quarter worth about $52,000. Kentucky Trust Co grew its stake in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 100 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in shares of Alphabet in the third quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOGL. New Street Research lifted their price objective on Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, June 5th. Rothschild & Co Redburn increased their target price on Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. China Renaissance raised their target price on shares of Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Roth Mkm reissued a “buy” rating on shares of Alphabet in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the 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.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 191,966 shares of company stock worth $16,963,968. 11.61% of the stock is currently owned by company insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Stock Performance

NASDAQ:GOOGL opened at $359.68 on Monday. The company has a market cap of $4.36 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The business has a 50 day moving average price of $360.45 and a two-hundred day moving average price of $330.34. 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 posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) 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.