Turn8 Private Wealth Inc. Has $7.10 Million Stock Position in Alphabet Inc. $GOOGL

Turn8 Private Wealth Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,702 shares of the information services provider’s stock after acquiring an additional 1,706 shares during the quarter. Alphabet accounts for about 4.4% of Turn8 Private Wealth Inc.’s holdings, making the stock its 2nd largest position. Turn8 Private Wealth Inc.’s holdings in Alphabet were worth $7,103,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Symmetry Partners LLC increased its position in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after purchasing an additional 30 shares during the last quarter. Private Wealth Management Group LLC boosted its holdings in shares of Alphabet by 1.2% in the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider’s stock worth $730,000 after buying an additional 30 shares during the last quarter. Members Trust Co grew its position in Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after buying an additional 31 shares during the period. Altfest L J & Co. Inc. grew its position in Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after buying an additional 31 shares during the period. Finally, Insight 2811 Inc. increased its holdings in Alphabet by 1.0% during the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after buying an additional 32 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet News Summary

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.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BNP Paribas Exane lifted their price objective on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Daiwa Securities Group lifted their price target on shares of Alphabet from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Truist Financial set a $430.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. HSBC reissued a “buy” rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $413.92.

Alphabet Price Performance

GOOGL stock opened at $357.18 on Monday. The firm has a 50 day moving average of $372.61 and a 200-day moving average of $336.63. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $176.48 and a 12 month high of $408.61. The firm has a market capitalization of $4.33 trillion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, sell-side analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Insider Transactions at Alphabet

In other Alphabet news, 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 value of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,465 shares of company stock valued at $8,020,511. Corporate insiders own 11.61% of the company’s stock.

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.