Sierra Summit Advisors LLC Has $24.68 Million Position in Alphabet Inc. $GOOGL

Sierra Summit Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,828 shares of the information services provider’s stock after buying an additional 3,373 shares during the quarter. Alphabet makes up approximately 3.6% of Sierra Summit Advisors LLC’s portfolio, making the stock its 3rd biggest position. Sierra Summit Advisors LLC’s holdings in Alphabet were worth $24,681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Bancorp USA Inc. bought a new position in Alphabet in the 3rd quarter worth $416,217,000. NewEdge Wealth LLC boosted its stake in shares of Alphabet by 11.8% during the 4th 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. World Investment Advisors boosted its stake in shares of Alphabet by 9.2% during the 4th quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock valued at $86,000,000 after purchasing an additional 23,107 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in shares of Alphabet during the fourth quarter valued at about $28,902,000. Finally, Private Advisory Group LLC increased its position in shares of Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after buying an additional 2,678 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: KeyCorp raised its price target on Alphabet to $445 from $425 and kept an overweight rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Multiple upbeat articles highlighted Alphabet as a leading AI and cloud beneficiary, with commentary pointing to strong distribution through Search, Android, YouTube, Google Cloud, and chips as reasons it could monetize AI better than peers.
• Positive Sentiment: New coverage argued Alphabet looks undervalued after a big run over the past year, while other pieces said the company remains one of the most attractive megacap tech names on a risk/reward basis.
• Positive Sentiment: Zacks and other market commentators continued to include GOOGL among cloud and internet stocks positioned to benefit from AI-driven data center spending and digital demand growth.
• Positive Sentiment: Business and tech commentary also pointed to product and platform strengths, including Google Search setting records during the World Cup and Waymo planning more driverless-car expansion, which support the long-term growth narrative.
• Neutral Sentiment: Alphabet said it will begin disclosing which ads are generated with AI, a transparency move that may help trust and compliance but is unlikely to materially change near-term earnings.
• Neutral Sentiment: Britain moved to regulate Google as a critical cloud supplier to protect financial stability; the change adds oversight, but it also underscores the importance of Google Cloud rather than signaling a fundamental business setback.
• Neutral Sentiment: Reuters reported that Google is appealing an Indian ads-related trademark ruling, a legal issue that could create some noise but does not yet appear to be a major stock-moving event.
• Neutral Sentiment: Recent short-interest data was effectively flat at zero shares reported, offering little actionable signal for traders.
• Negative Sentiment: One Reuters-linked report said Google and OpenAI provided AI services to Singapore-based subsidiaries of Chinese groups on the Pentagon blacklist, which could raise regulatory scrutiny and geopolitical concerns.
• Negative Sentiment: Technical commentary noted Alphabet is testing a key resistance zone after a recovery, suggesting the stock may need a fresh catalyst to extend its move higher.

Insider Activity

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares of the company’s stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 160,465 shares of company stock valued at $8,020,511. 11.61% of the stock is currently owned by insiders.

Alphabet Stock Down 0.5%

Shares of GOOGL traded down $1.71 during mid-day trading on Friday, reaching $357.18. The company had a trading volume of 18,122,822 shares, compared to its average volume of 32,870,564. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. The firm has a 50-day moving average price of $372.61 and a 200 day moving average price of $336.44. Alphabet Inc. has a 52 week low of $176.48 and a 52 week high of $408.61.

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, beating analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion during 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 forecast that Alphabet Inc. will post 14.32 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 $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. 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. Alphabet’s payout ratio is currently 6.71%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and set a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Arete Research upped their target price on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Susquehanna reissued a “positive” rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, New Street Research increased their price objective on Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, June 5th. 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 currently has an average rating of “Moderate Buy” and an average price target of $413.92.

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.