Axxcess Wealth Management LLC Buys 5,976 Shares of Alphabet Inc. $GOOGL

Axxcess Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,733 shares of the information services provider’s stock after purchasing an additional 5,976 shares during the quarter. Alphabet accounts for about 0.7% of Axxcess Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $61,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. PMV Capital Advisers LLC bought a new position in Alphabet in the fourth quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet during the fourth quarter worth about $38,000. Bard Associates Inc. purchased a new position in shares of Alphabet in the 4th quarter worth about $52,000. Kentucky Trust Co boosted its holdings in shares of Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Alphabet during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated 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 in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,516 shares of company stock valued at $7,344,604 over the last three months. Corporate insiders own 11.61% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, May 29th. Wells Fargo & Company reiterated an “overweight” rating and set a $435.00 price target (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Phillip Securities lifted their price target on shares of Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a research note on Wednesday, April 15th. BNP Paribas Exane boosted their price objective on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, HSBC reaffirmed a “buy” rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Key Stories Impacting Alphabet

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 Stock Performance

NASDAQ:GOOGL opened at $368.48 on Friday. The stock has a market cap of $4.46 trillion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23. The firm’s fifty day simple moving average is $366.01 and its 200 day simple moving average is $331.69. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. 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 issued 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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. As a group, research analysts predict that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio 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.