Clearstead Advisors LLC Has $101.37 Million Stake in Alphabet Inc. $GOOGL

Clearstead Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 323,860 shares of the information services provider’s stock after buying an additional 4,591 shares during the period. Alphabet accounts for about 1.3% of Clearstead Advisors LLC’s holdings, making the stock its 12th largest position. Clearstead Advisors LLC’s holdings in Alphabet were worth $101,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Berkshire Hathaway Inc bought a new stake in shares of Alphabet during the third quarter valued at approximately $4,338,397,000. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Capital World Investors grew its position in Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares during the period. Capital Research Global Investors grew its position in 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 valued at $12,333,076,000 after acquiring an additional 6,874,381 shares during the period. Finally, Mizuho Markets Cayman LP grew its position in 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 valued at $1,487,419,000 after acquiring an additional 6,092,513 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $368.53 on Monday. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61. The business’s 50-day moving average price is $352.70 and its two-hundred day moving average price is $328.11. 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 firm has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last released 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. The firm had revenue of $109.90 billion for 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, equities analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. 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 is Monday, June 8th. Alphabet’s payout ratio is 6.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America upped their price target on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Tigress Financial set a $415.00 price target on Alphabet and gave the company a “strong-buy” rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. Rothschild & Co Redburn boosted their price objective on Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, President Capital boosted their price objective on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the stock in a transaction dated Friday, March 27th. The stock was 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 of the company’s stock, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 193,016 shares of company stock valued at $17,282,549 over the last 90 days. Insiders own 11.61% of the company’s stock.

Trending Headlines about 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’

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.