21,507 Shares in Alphabet Inc. $GOOGL Acquired by Cornerstone Planning LLC

Cornerstone Planning LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 21,507 shares of the information services provider’s stock, valued at approximately $6,747,000. Alphabet makes up 1.5% of Cornerstone Planning LLC’s holdings, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. CIBC Bancorp USA Inc. bought a new stake in shares of Alphabet during the 3rd quarter worth $416,217,000. NewEdge Wealth LLC increased its stake in Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after acquiring an additional 93,293 shares during the last quarter. World Investment Advisors increased its stake in Alphabet by 9.2% in the fourth quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock valued at $86,000,000 after acquiring an additional 23,107 shares during the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new stake in Alphabet during the fourth quarter valued at about $28,902,000. Finally, Private Advisory Group LLC raised its position in Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after purchasing an additional 2,678 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 5.0%

NASDAQ:GOOGL opened at $349.68 on Tuesday. The firm has a market capitalization of $4.24 trillion, a P/E ratio of 26.67, a P/E/G 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 company has a fifty day moving average of $367.66 and a 200 day moving average of $332.31. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued 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 0.3%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Susquehanna reissued a “positive” rating and set a $460.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Evercore boosted their target price on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $420.00 target price on Alphabet and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Canaccord Genuity Group increased their price target on shares of Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $413.13.

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?

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 8,993 shares of the firm’s 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 sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,516 shares of company stock valued at $7,344,604 in the last quarter. 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.