Purpose Unlimited Inc. Acquires Shares of 15,745 Alphabet Inc. $GOOG

Purpose Unlimited Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,745 shares of the information services provider’s stock, valued at approximately $4,941,000.

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC lifted its position in Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares during the period. Baltimore Washington Financial Advisors Inc. grew its holdings in Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock worth $53,920,000 after purchasing an additional 2,009 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its holdings in Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after purchasing an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares in the last quarter. Finally, World Investment Advisors lifted its holdings in shares of Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock valued at $59,827,000 after purchasing an additional 15,280 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. JPMorgan Chase & Co. boosted their target price on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and set a $450.00 price target on shares of Alphabet in a report on Thursday, May 21st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $376.78.

Alphabet Price Performance

Alphabet stock opened at $367.46 on Monday. The firm has a market cap of $4.45 trillion, a price-to-earnings ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.23. The stock has a fifty day simple moving average of $364.31 and a two-hundred day simple moving average of $331.18. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. 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 (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 earnings per share. Equities analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s payout ratio is presently 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the transaction, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last quarter. Insiders own 12.99% of the company’s stock.

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.