Gerald Baker Financial Group LLC Invests $1.02 Million in Alphabet Inc. $GOOG

Gerald Baker Financial Group LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the first quarter, Holdings Channel reports. The firm purchased 3,564 shares of the information services provider’s stock, valued at approximately $1,022,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Providence Wealth Advisors LLC grew its holdings in Alphabet by 0.3% in the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 29 shares in the last quarter. Ring Mountain Capital LLC raised its holdings in shares of Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after acquiring an additional 30 shares during the period. Cannon Financial Strategists Inc. raised its holdings in shares of Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after acquiring an additional 30 shares during the period. Financial Enhancement Group LLC boosted its position in shares of Alphabet by 2.3% during the 1st quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after acquiring an additional 30 shares during the last quarter. Finally, HRC Wealth Management LLC grew its holdings in shares of Alphabet by 1.0% in the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock valued at $1,014,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen lifted their target price on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Zacks Research upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Oppenheimer upped their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $383.44.

Alphabet Stock Up 1.5%

Shares of NASDAQ GOOG opened at $351.37 on Tuesday. The firm has a market cap of $4.26 trillion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.43 and a beta of 1.23. 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 Inc. has a 52-week low of $187.05 and a 52-week high of $404.47. The business’s 50 day moving average is $365.58 and its two-hundred day moving average is $337.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.81 EPS. Research analysts predict that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. 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. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is developing a new AI server chip, “Frozen v2,” designed to run its Gemini models more efficiently, which suggests lower inference costs and stronger AI margins. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Several analysts and market commentators remain bullish ahead of earnings, citing strong Search and Google Cloud growth, along with expectations that Alphabet can beat or at least support current high valuations. Zacks: Can Strong Search and Cloud Growth Drive GOOGL’s Q2 Earnings?
• Positive Sentiment: Investor attention is also being lifted by Berkshire Hathaway’s large Alphabet stake and comments from Warren Buffett, which reinforce confidence in Alphabet as a durable AI and core internet franchise. Motley Fool: Warren Buffett Said He Personally Started Berkshire’s Alphabet Position
• Neutral Sentiment: With Alphabet set to report on July 22, options traders and analysts expect a sizable post-earnings move, underscoring that the stock may stay volatile into the print. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Broader market focus on geopolitical risks and Big Tech earnings is adding a wait-and-see tone, but this is more of a backdrop than a direct driver for Alphabet. Yahoo Finance: US stocks edge down with Iran and earnings season in focus
• Negative Sentiment: New securities-fraud investigations disclosed by law firms could create some overhang, although these are early-stage and not yet tied to any specific financial impact. GlobeNewswire: Securities Fraud Investigation Into Alphabet Inc. Continues

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.