Corient Private Wealth LLC Has $1.62 Billion Stake in Alphabet Inc. $GOOGL

Corient Private Wealth LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,175,736 shares of the information services provider’s stock after acquiring an additional 52,692 shares during the quarter. Alphabet comprises about 1.8% of Corient Private Wealth LLC’s investment portfolio, making the stock its 9th biggest holding. Corient Private Wealth LLC’s holdings in Alphabet were worth $1,620,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the fourth quarter worth about $32,000. EMC Capital Management acquired a new stake in Alphabet in the 4th quarter valued at about $33,000. PMV Capital Advisers LLC acquired a new stake in Alphabet in the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Finally, Bard Associates Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $52,000. Institutional investors own 40.03% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best “Magnificent Seven” AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google’s Self-Driving Dream Hitting a Wall?

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Rothschild & Co Redburn boosted their target price on shares of Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. KeyCorp restated an “overweight” rating and set a $425.00 target price on shares of Alphabet in a report on Wednesday, May 20th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 price target on shares of Alphabet in a report on Wednesday, June 3rd. Finally, BMO Capital Markets upped their price target on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the sale, the director owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,516 shares of company stock worth $7,344,604 over the last ninety days. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $349.68 on Tuesday. Alphabet Inc. has a 12 month low of $162.00 and a 12 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. The stock has a market cap of $4.24 trillion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The business has a fifty day simple moving average of $367.66 and a 200-day simple moving average of $332.31.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. 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 yield of 0.3%. 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.