15,264 Shares in Alphabet Inc. $GOOGL Bought by CrossGen Wealth LLC

CrossGen Wealth LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,264 shares of the information services provider's stock, valued at approximately $4,778,000. Alphabet accounts for 4.2% of CrossGen Wealth LLC's investment portfolio, making the stock its 5th largest position.

Other large investors have also bought and sold shares of the company. PMV Capital Advisers LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet in the fourth quarter worth approximately $38,000. Bard Associates Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $52,000. Kentucky Trust Co lifted its stake in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after buying an additional 100 shares during the period. Finally, Uniplan Investment Counsel Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $65,000. 40.03% of the stock is owned by institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story got another boost after reports highlighted strong earnings momentum and a rapidly expanding Google Cloud backlog, reinforcing the view that business demand remains healthy. Alphabet Just Beat Earnings by 94% and Doubled Its Cloud Backlog to $460 Billion
• Positive Sentiment: Berkshire Hathaway disclosed that it nearly tripled its Alphabet stake, a notable vote of confidence from a major value investor that may support sentiment. Warren Buffett Just Tripled Down on the Stock Bill Ackman Is Selling
• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand AI usage, adding another large enterprise customer to Alphabet’s cloud growth narrative. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google unveiled new AI-related plans, including an “AI Control Roadmap” to address rogue AI agents, underscoring continued investment and leadership in AI infrastructure and safety. Google Devises Battle Plan to Combat Rogue AI Agents
• Neutral Sentiment: Google’s AI talent war remains a focus after Noam Shazeer, a co-lead on Gemini, reportedly left for OpenAI, which may raise questions about retention but does not change the core business overnight. Google's Gemini co-lead Noam Shazeer to join OpenAI
• Negative Sentiment: Waymo issued a recall of about 3,900 robotaxis after software issues caused vehicles to enter highway construction zones, adding regulatory and execution risk to Alphabet’s self-driving unit. Waymo to recall over 3,800 robotaxis over risk of entering closed construction zones
• Negative Sentiment: A director sold a meaningful block of shares, which can modestly weigh on sentiment even though insider sales are not always a bearish signal. SEC filing for John L. Hennessy sale

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the business's stock in a transaction 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 sale, the director directly owned 18,721 shares in the company, valued at $7,132,701. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction 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 ninety days, insiders sold 160,516 shares of company stock valued at $7,344,604. Company insiders own 11.61% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. China Renaissance lifted their price objective on shares of Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Needham & Company LLC reissued a "buy" rating and set a $450.00 target price on shares of Alphabet in a research note on Wednesday, June 3rd. President Capital raised their price target on shares of Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the company a "buy" rating in a report on Thursday, April 30th. Two investment 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $368.48 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $366.01 and its two-hundred day simple moving average is $331.69. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61. The stock has a market cap of $4.46 trillion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23.

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

Alphabet Increases Dividend

The company 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 an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. 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.

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