Boundless Plain Holdings Ltd Invests $7.67 Million in Alphabet Inc. $GOOGL

Boundless Plain Holdings Ltd bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,500 shares of the information services provider’s stock, valued at approximately $7,668,000. Alphabet accounts for about 2.4% of Boundless Plain Holdings Ltd’s holdings, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Berkshire Hathaway Inc acquired a new stake in shares of Alphabet in the third quarter worth $4,338,397,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after buying an additional 12,531,695 shares during the period. Capital World Investors boosted its position in shares of Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after buying an additional 11,605,785 shares during the period. Capital Research Global Investors boosted its position in shares of Alphabet by 15.7% in the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock worth $12,333,076,000 after buying an additional 6,874,381 shares during the period. Finally, Mizuho Markets Cayman LP boosted its position in shares of Alphabet by 23,402.1% in the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider’s stock worth $1,487,419,000 after buying an additional 6,092,513 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $368.53 on Friday. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The stock’s 50-day moving average is $352.70 and its two-hundred day moving average is $327.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $4.47 trillion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23.

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, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.41%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, February 16th. Bank of America increased their price objective on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Guggenheim reiterated a “buy” rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Sanford C. Bernstein reiterated a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a 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. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $413.13.

Insider Activity at Alphabet

In other Alphabet 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 193,016 shares of company stock valued at $17,282,549. 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.