AMG Asset Management Group Inc. Takes $895,000 Position in Alphabet Inc. $GOOGL

AMG Asset Management Group Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,861 shares of the information services provider’s stock, valued at approximately $895,000. Alphabet makes up approximately 2.9% of AMG Asset Management Group Inc.’s holdings, making the stock its 10th largest holding.

Other large investors have also recently made changes to their positions in the company. EMC Capital Management bought a new position in shares of Alphabet in the fourth quarter worth approximately $33,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the 4th quarter valued at $32,000. PMV Capital Advisers LLC bought a new position in Alphabet in the 4th quarter worth $38,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet during the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at about $52,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best “Magnificent Seven” AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google’s Self-Driving Dream Hitting a Wall?

Analysts Set New Price Targets

Several research analysts have weighed in on GOOGL shares. Oppenheimer upped their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Citigroup reissued an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Mizuho upped their target price on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $435.00 target price (up from $427.00) on shares of Alphabet in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $413.13.

Alphabet Trading Down 5.0%

GOOGL stock opened at $349.68 on Tuesday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The stock has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.57 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. The firm’s fifty day simple moving average is $367.66 and its two-hundred day simple moving average is $332.31.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) 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 business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. As a group, analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current 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 dividend of $0.22 per share. 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 0.3%. Alphabet’s payout ratio is 6.71%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on 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 directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction that occurred on 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. 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. In the last ninety days, insiders have sold 160,516 shares of company stock worth $7,344,604. 11.61% of the stock is currently owned by company insiders.

About Alphabet

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.