3,564 Shares in Alphabet Inc. $GOOG Acquired by Gerald Baker Financial Group LLC

Key Points

• Gerald Baker Financial Group opened a new position in Alphabet, buying 3,564 shares worth about $1.02 million in the first quarter.
• Alphabet continues to draw bullish analyst support, with several firms reaffirming buy ratings and targets ranging from $430 to $460; the consensus rating remains Buy with an average target of $383.44.
• The company is showing strong fundamentals, having recently beat earnings expectations with $5.11 EPS on $109.9 billion in revenue, while also raising its quarterly dividend to $0.22 per share.

Gerald Baker Financial Group LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,564 shares of the information services provider's stock, valued at approximately $1,022,000.

Several other institutional investors have also added to or reduced their stakes in the business. Kathmere Capital Management LLC boosted its stake in shares of Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock worth $9,381,000 after buying an additional 2,341 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management grew its holdings in Alphabet by 1.0% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after acquiring an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. raised its position in Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after acquiring an additional 4,239 shares in the last quarter. World Investment Advisors raised its position in Alphabet by 8.7% during the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock valued at $59,827,000 after acquiring an additional 15,280 shares in the last quarter. Finally, Violich Capital Management Inc. lifted its holdings in Alphabet by 1.0% in the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock valued at $106,936,000 after acquiring an additional 3,378 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is developing a new AI server chip, “Frozen v2,” designed to run its Gemini models more efficiently, which suggests lower inference costs and stronger AI margins. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Several analysts and market commentators remain bullish ahead of earnings, citing strong Search and Google Cloud growth, along with expectations that Alphabet can beat or at least support current high valuations. Zacks: Can Strong Search and Cloud Growth Drive GOOGL's Q2 Earnings?
• Positive Sentiment: Investor attention is also being lifted by Berkshire Hathaway’s large Alphabet stake and comments from Warren Buffett, which reinforce confidence in Alphabet as a durable AI and core internet franchise. Motley Fool: Warren Buffett Said He Personally Started Berkshire's Alphabet Position
• Neutral Sentiment: With Alphabet set to report on July 22, options traders and analysts expect a sizable post-earnings move, underscoring that the stock may stay volatile into the print. Investopedia: Here's How Much Google Parent Alphabet's Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Broader market focus on geopolitical risks and Big Tech earnings is adding a wait-and-see tone, but this is more of a backdrop than a direct driver for Alphabet. Yahoo Finance: US stocks edge down with Iran and earnings season in focus
• Negative Sentiment: New securities-fraud investigations disclosed by law firms could create some overhang, although these are early-stage and not yet tied to any specific financial impact. GlobeNewswire: Securities Fraud Investigation Into Alphabet Inc. Continues

Analyst Ratings Changes

Several research firms have recently weighed in on GOOG. Truist Financial set a $430.00 target price on shares of Alphabet in a report on Monday, June 1st. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a report on Monday, June 22nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, UBS Group set a $430.00 target price on Alphabet in a research report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Buy" and an average target price of $383.44.

Alphabet Stock Up 1.5%

Shares of NASDAQ GOOG opened at $351.37 on Tuesday. The company's 50-day simple moving average is $365.58 and its 200-day simple moving average is $337.07. Alphabet Inc. has a 52-week low of $187.05 and a 52-week high of $404.47. The firm has a market cap of $4.26 trillion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 1.43 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.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 14.33 EPS 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 dividend of $0.22 per share. This is an increase 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 presently 6.71%.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,415 shares of company stock worth $7,672,279 in the last quarter. Corporate insiders own 12.99% of the company's stock.

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.