Burney Co. Has $68.74 Million Stake in Alphabet Inc. $GOOGL

Burney Co. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,058 shares of the information services provider’s stock after selling 32,804 shares during the quarter. Alphabet makes up 2.1% of Burney Co.’s portfolio, making the stock its 4th biggest position. Burney Co.’s holdings in Alphabet were worth $68,743,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Downshift Financial LLC grew its stake in shares of Alphabet by 91.6% during the 1st quarter. Downshift Financial LLC now owns 1,732 shares of the information services provider’s stock valued at $498,000 after acquiring an additional 828 shares during the period. Strata Wealth Advisors LLC lifted its stake in shares of Alphabet by 9.4% during the 1st quarter. Strata Wealth Advisors LLC now owns 1,647 shares of the information services provider’s stock valued at $474,000 after buying an additional 142 shares in the last quarter. Investment Advisory Services Group LLC raised its holdings in Alphabet by 4.5% during the first quarter. Investment Advisory Services Group LLC now owns 7,805 shares of the information services provider’s stock valued at $2,244,000 after acquiring an additional 335 shares during the period. Walser Wealth Management Company A Ltd Liability Co lifted its position in shares of Alphabet by 17.4% in the first quarter. Walser Wealth Management Company A Ltd Liability Co now owns 4,998 shares of the information services provider’s stock valued at $1,437,000 after acquiring an additional 739 shares in the last quarter. Finally, Schear Investment Advisers LLC boosted its stake in shares of Alphabet by 0.6% in the first quarter. Schear Investment Advisers LLC now owns 37,555 shares of the information services provider’s stock worth $10,799,000 after acquiring an additional 219 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 3.2%

NASDAQ GOOGL opened at $370.92 on Thursday. Alphabet Inc. has a 12-month low of $180.48 and a 12-month high of $408.61. The company has a fifty day simple moving average of $370.84 and a two-hundred day simple moving average of $337.62. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.49 trillion, a P/E ratio of 28.29, a P/E/G ratio of 1.54 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate 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. On average, analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GOOGL shares. China Renaissance increased their price target on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Evercore increased their target price on shares of Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $413.73.

Insider Buying and Selling

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock valued at $7,672,279 in the last ninety days. Company insiders own 11.61% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he initiated Berkshire Hathaway’s Alphabet investment, a high-profile endorsement that is helping sentiment around Alphabet (GOOGL). Warren Buffett tells CNBC he initiated Berkshire Hathaway’s investment in Alphabet
• Positive Sentiment: Multiple analyst previews say Alphabet’s AI momentum, cloud backlog, and earnings growth expectations could support another strong quarter, keeping investors upbeat ahead of results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
• Positive Sentiment: Zacks upgraded Alphabet to strong-buy, citing earnings growth expectations and attractive fundamentals relative to its valuation. Zacks upgrade to strong-buy
• Neutral Sentiment: Alphabet expanded its clean-energy commitments with its largest solar and battery storage purchase yet, which supports its long-term infrastructure strategy but is not an immediate earnings driver. Google’s biggest clean power project is 40 miles north of xAI’s unpermitted gas power plant
• Neutral Sentiment: Alphabet also drew attention for a new collaboration with INVIDI Technologies to extend addressable advertising to set-top boxes, a potentially helpful ad-tech expansion but still early-stage. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager
• Negative Sentiment: The European Commission is preparing new fines against Google, renewing regulatory risk and adding pressure to Alphabet’s legal overhang. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google is also fighting antitrust scrutiny in Europe and Switzerland, including efforts to preserve a court ruling that overturned a $1.7 billion EU fine and a new Swiss probe over Android search defaults. Google urges EU top court to back ruling scrapping $1.7 billion antitrust fine
• Negative Sentiment: Separate reports raised concerns about Google’s AI search tools and a DeepMind researcher’s resignation over the company’s Pentagon work, both of which could add reputational risk. A DeepMind researcher resigned over its AI military deal

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.