Glass Wealth Management Co LLC Raises Stock Position in Alphabet Inc. $GOOGL

Glass Wealth Management Co LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,035 shares of the information services provider’s stock after buying an additional 1,872 shares during the period. Alphabet accounts for about 4.9% of Glass Wealth Management Co LLC’s holdings, making the stock its 2nd biggest holding. Glass Wealth Management Co LLC’s holdings in Alphabet were worth $12,663,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alphabet Price Performance

Shares of GOOGL opened at $351.99 on Tuesday. Alphabet Inc. has a 12-month low of $186.15 and a 12-month high of $408.61. The business’s fifty day moving average is $368.16 and its 200 day moving average is $338.41. 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 stock has a market cap of $4.26 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $106.98 billion. Sell-side analysts anticipate that Alphabet Inc. will post 14.33 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly developing a new AI server chip to make Gemini run more efficiently, which could improve performance and reduce infrastructure costs. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Shares were also lifted by reports that Alphabet’s AI chip initiative could strengthen its competitive position against Nvidia and support its broader AI rollout. Yahoo Finance: Alphabet stock gains on report of next-generation AI chip project
• Positive Sentiment: Analysts and market commentators say Alphabet’s upcoming Q2 results could be supported by Search ad strength, Cloud growth, and rising subscriptions, with expectations for an earnings surprise still elevated. Zacks: Will Alphabet’s Q2 Earnings Reignite the Tech Rally?
• Positive Sentiment: Wall Street analysts remain generally constructive on Alphabet ahead of earnings, with some notes suggesting meaningful upside from current levels. Zacks: Wall Street Analysts Think Alphabet (GOOGL) Is a Good Investment: Is It?
• Neutral Sentiment: Alphabet’s upcoming earnings report is expected to be a major event for the stock, with traders bracing for a potentially large move depending on guidance and AI capex plans. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Several articles highlighted Alphabet as one of this week’s most closely watched earnings names, but these were largely preview pieces rather than new fundamental developments. Proactive Investors: Week ahead: Wall Street gears up for volatility as Big Tech earnings kick into high gear
• Negative Sentiment: One New York Times report criticized Google’s AI search features as potentially harming the open web, which could add regulatory and reputational pressure over time. NYT: How Google’s A.I. Search Is Imperiling the Open Web
• Negative Sentiment: Two securities-fraud investigation notices may create some headline overhang, although they are routine plaintiff-lawyer announcements and not evidence of new wrongdoing. Globe Newswire: Securities Fraud Investigation Into Alphabet Inc. (GOOG) Continues

Insiders Place Their Bets

In other news, 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 stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,415 shares of company stock worth $7,672,279 in the last 90 days. Company insiders own 11.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Wedbush reissued an “outperform” rating on shares of Alphabet in a research report on Thursday, July 16th. The Goldman Sachs Group lifted their target price on Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. President Capital boosted their price target on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Bank of America increased their price target on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Evercore raised their price objective on shares of Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $414.11.

Alphabet 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.