9,719 Shares in Alphabet Inc. $GOOGL Acquired by Midway Capital Research & Management

Key Points

• Midway Capital Research & Management opened a new position in Alphabet during the fourth quarter, buying 9,719 shares worth about $3.04 million. The stake makes Alphabet about 3.0% of the firm’s portfolio and its 10th-largest holding.
• Alphabet’s latest quarterly results were strong, with EPS of $5.11 beating expectations and revenue of $109.9 billion topping estimates. Analysts now expect the company to earn 14.3 per share for the current fiscal year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while brokerages remain broadly positive with a consensus rating of “Moderate Buy” and a target price around $413.13.

Midway Capital Research & Management acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,719 shares of the information services provider's stock, valued at approximately $3,042,000. Alphabet accounts for approximately 3.0% of Midway Capital Research & Management's portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY lifted its position in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC grew its stake in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after buying an additional 48,805 shares in the last quarter. Finally, United Bank grew its stake in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after buying an additional 3,120 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of the 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 completion of the transaction, the insider directly owned 51,808 shares in the company, valued at approximately $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 can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated 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. In the last ninety days, insiders sold 160,516 shares of company stock valued at $7,344,604. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.1%

GOOGL opened at $368.48 on Monday. The company has a market cap of $4.46 trillion, a P/E ratio of 28.11, a PEG ratio of 1.57 and a beta of 1.23. 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 company's 50 day moving average is $367.04 and its 200-day moving average is $332.07. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $106.98 billion. Equities research analysts predict that Alphabet Inc. will post 14.3 earnings per share 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 issued a $0.22 dividend. 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. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOGL. Dbs Bank boosted their target price on shares of Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Phillip Securities increased their price target on shares of Alphabet from $340.00 to $395.00 and gave the stock a "moderate buy" rating in a research report on Wednesday, April 15th. Mizuho lifted their price objective on shares of Alphabet from $420.00 to $460.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. UBS Group restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $393.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being viewed as a major AI winner thanks to ongoing investment in AI infrastructure and data centers, which could support future cloud and AI revenue growth. Article Title
• Positive Sentiment: Reports that Berkshire Hathaway nearly tripled its Alphabet position may be seen as a strong vote of confidence from a major long-term investor. Article Title
• Positive Sentiment: Coverage emphasizing Alphabet’s strong earnings and expanding Google Cloud backlog supports the case for continued fundamental improvement. Article Title
• Neutral Sentiment: Alphabet’s stock is drawing increased investor attention and analyst commentary, but these are mostly sentiment-driven mentions rather than new company-specific catalysts. Article Title
• Negative Sentiment: Noam Shazeer, a top Google DeepMind/Gemini AI leader, is leaving for OpenAI, underscoring the competitive AI talent war. Article Title
• Negative Sentiment: John Jumper is also departing Google DeepMind for Anthropic, adding to concerns that Alphabet may be losing key AI researchers. Article Title
• Negative Sentiment: Waymo’s recall of nearly 3,900 robotaxis after construction-zone driving errors raises safety and regulatory concerns for Alphabet’s autonomous vehicle business. Article Title
• Negative Sentiment: The UK ordering Google to improve search-ranking transparency highlights continued regulatory scrutiny over its core search business. Article Title

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.

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.