Alphabet Inc. $GOOGL Shares Bought by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC increased its Alphabet stake by 214.7% in the first quarter, buying 165,241 additional shares to bring its total to 242,209 shares valued at about $69.7 million.
• Alphabet continues to draw bullish analyst coverage, with several firms raising price targets and maintaining buy/overweight ratings. The consensus from MarketBeat is a Moderate Buy with a price target of $413.92.
• The company reported strong quarterly results, posting $5.11 EPS versus $2.64 expected and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.

Elevation Point Wealth Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 214.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,209 shares of the information services provider's stock after acquiring an additional 165,241 shares during the quarter. Alphabet makes up approximately 1.6% of Elevation Point Wealth Partners LLC's holdings, making the stock its 6th largest position. Elevation Point Wealth Partners LLC's holdings in Alphabet were worth $69,650,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. EMC Capital Management acquired a new stake in Alphabet in the fourth quarter worth $33,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet during the fourth quarter valued at $32,000. PMV Capital Advisers LLC bought a new position in shares of Alphabet during the fourth quarter worth about $38,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Finally, Bard Associates Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $52,000. 40.03% of the stock is currently owned by institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: KeyCorp raised its price target on Alphabet to $445 from $425 and kept an overweight rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Multiple upbeat articles highlighted Alphabet as a leading AI and cloud beneficiary, with commentary pointing to strong distribution through Search, Android, YouTube, Google Cloud, and chips as reasons it could monetize AI better than peers.
• Positive Sentiment: New coverage argued Alphabet looks undervalued after a big run over the past year, while other pieces said the company remains one of the most attractive megacap tech names on a risk/reward basis.
• Positive Sentiment: Zacks and other market commentators continued to include GOOGL among cloud and internet stocks positioned to benefit from AI-driven data center spending and digital demand growth.
• Positive Sentiment: Business and tech commentary also pointed to product and platform strengths, including Google Search setting records during the World Cup and Waymo planning more driverless-car expansion, which support the long-term growth narrative.
• Neutral Sentiment: Alphabet said it will begin disclosing which ads are generated with AI, a transparency move that may help trust and compliance but is unlikely to materially change near-term earnings.
• Neutral Sentiment: Britain moved to regulate Google as a critical cloud supplier to protect financial stability; the change adds oversight, but it also underscores the importance of Google Cloud rather than signaling a fundamental business setback.
• Neutral Sentiment: Reuters reported that Google is appealing an Indian ads-related trademark ruling, a legal issue that could create some noise but does not yet appear to be a major stock-moving event.
• Neutral Sentiment: Recent short-interest data was effectively flat at zero shares reported, offering little actionable signal for traders.
• Negative Sentiment: One Reuters-linked report said Google and OpenAI provided AI services to Singapore-based subsidiaries of Chinese groups on the Pentagon blacklist, which could raise regulatory scrutiny and geopolitical concerns.
• Negative Sentiment: Technical commentary noted Alphabet is testing a key resistance zone after a recovery, suggesting the stock may need a fresh catalyst to extend its move higher.

Analyst Ratings Changes

A number of research firms have issued reports on GOOGL. Piper Sandler reissued an "overweight" rating and set a $445.00 target price (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up from $375.00) on shares of Alphabet in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Finally, BMO Capital Markets lifted their target price on Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a research note 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $413.92.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $1.71 during trading on Friday, reaching $357.18. The company had a trading volume of 18,122,822 shares, compared to its average volume of 32,870,564. The firm's fifty day moving average is $372.61 and its 200 day moving average is $336.44. The firm has a market capitalization of $4.33 trillion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Alphabet Inc. has a twelve month low of $176.48 and a twelve month high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts forecast that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. This is a boost 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 dividend yield of 0.2%. Alphabet's payout ratio is 6.71%.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,465 shares of company stock worth $8,020,511 in the last quarter. Company insiders own 11.61% of the company's stock.

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.

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