Green Ridge Wealth Planning LLC Makes New Investment in Alphabet Inc. $GOOGL

Green Ridge Wealth Planning LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, HoldingsChannel.com reports. The firm bought 20,711 shares of the information services provider’s stock, valued at approximately $6,483,000. Alphabet makes up 3.3% of Green Ridge Wealth Planning LLC’s investment portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Symmetry Partners LLC grew its stake in Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after acquiring an additional 30 shares during the period. Members Trust Co raised its position in shares of Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 31 shares during the period. Altfest L J & Co. Inc. lifted its holdings in shares of Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after purchasing an additional 31 shares in the last quarter. Insight 2811 Inc. lifted its holdings in shares of Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after purchasing an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC grew its position in Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after purchasing an additional 32 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,516 shares of company stock worth $7,344,604. Corporate insiders own 11.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOOGL. BNP Paribas Exane boosted their price target on shares of Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and set a $445.00 price objective (up from $425.00) on shares of Alphabet in a report on Monday, June 1st. HSBC reissued a “buy” rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Finally, Cantor Fitzgerald upped their target price on shares of Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Two 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $413.13.

Alphabet News Summary

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?

Alphabet Price Performance

GOOGL opened at $349.68 on Tuesday. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. 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 company has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.57 and a beta of 1.23. The firm’s fifty day moving average price is $367.66 and its two-hundred day moving average price is $332.31.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 6.71%.

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.