Alphabet Inc. $GOOGL Shares Purchased by Moss Adams Wealth Advisors LLC

Key Points

• Moss Adams Wealth Advisors LLC increased its Alphabet stake by 4.7% in the first quarter, adding 1,890 shares to reach 42,392 shares valued at about $12.19 million.
• Wall Street remains broadly bullish on Alphabet, with analysts assigning an average “Moderate Buy” rating and a consensus price target of $413.54.
• Alphabet posted strong quarterly results, reporting $5.11 EPS versus estimates of $2.64 and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.

Moss Adams Wealth Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,392 shares of the information services provider's stock after acquiring an additional 1,890 shares during the quarter. Alphabet makes up 0.9% of Moss Adams Wealth Advisors LLC's portfolio, making the stock its 16th biggest position. Moss Adams Wealth Advisors LLC's holdings in Alphabet were worth $12,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GOOGL. Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Alphabet in the 1st quarter worth about $284,000. Private Wealth Management Group LLC lifted its position in shares of Alphabet by 1.2% during the first quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider's stock worth $730,000 after purchasing an additional 30 shares during the last quarter. WMG Financial Advisors LLC lifted its position in shares of Alphabet by 1.7% during the first quarter. WMG Financial Advisors LLC now owns 4,375 shares of the information services provider's stock worth $1,258,000 after purchasing an additional 75 shares during the last quarter. Brown Miller Wealth Management LLC grew its stake in Alphabet by 7.1% in the first quarter. Brown Miller Wealth Management LLC now owns 38,627 shares of the information services provider's stock worth $11,108,000 after purchasing an additional 2,551 shares in the last quarter. Finally, EWA LLC grew its stake in Alphabet by 33.5% in the first quarter. EWA LLC now owns 10,239 shares of the information services provider's stock worth $2,944,000 after purchasing an additional 2,570 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Needham & Company LLC restated a "buy" rating and set a $450.00 price objective on shares of Alphabet in a research note on Wednesday, June 3rd. Canaccord Genuity Group boosted their price target on Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Truist Financial set a $430.00 price target on Alphabet and gave the company a "buy" rating in a report on Friday, May 29th. Rothschild & Co Redburn upped their price target on Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $393.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $413.54.

Alphabet Stock Performance

Alphabet stock traded up $5.15 during mid-day trading on Tuesday, hitting $371.61. 4,065,557 shares of the company's stock traded hands, compared to its average volume of 32,626,334. 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 Inc. has a one year low of $172.77 and a one year high of $408.61. The firm has a 50 day moving average price of $371.05 and a 200 day moving average price of $334.60. The company has a market cap of $4.50 trillion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities analysts forecast that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,465 shares of company stock worth $8,020,511 over the last ninety days. Insiders own 11.61% of the company's stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Investors are highlighting Alphabet as a top AI stock, with billionaire Jeffrey Talpins reportedly naming it a preferred AI idea, reinforcing confidence in the company’s long-term AI upside. Alphabet Inc. (GOOGL) Is A Top AI Stock To Buy According To Billionaire Jeffrey Talpins
• Positive Sentiment: Google Cloud is being touted as a major growth engine, with commentary suggesting it may be “driving the train” for Alphabet thanks to strong cloud momentum and a large backlog, which supports the bull case for revenue and margin expansion. Is Google Cloud Officially Driving the Train?
• Positive Sentiment: Alphabet was featured as a “final trade” on CNBC, and several bullish pieces point to continued investor interest in the stock after strong gains over the past year. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC's ‘Final Trades'
• Neutral Sentiment: Articles noting Alphabet’s strong stock performance and asking whether it is too late to buy may keep the stock in focus, but they mainly reflect momentum rather than a new fundamental catalyst. Down Over 10% From Its All-Time High, Is Now the Perfect Time to Buy Alphabet Stock?
• Negative Sentiment: Regulatory pressure remains a drag after Europe’s final €4.1 billion Android antitrust ruling, which adds to legal risk around Alphabet’s mobile and search ecosystem. Alphabet (GOOGL) Faces Final €4.1b Android Antitrust Ruling In Europe
• Negative Sentiment: Privacy-related reporting that Google is expanding AI training using user-uploaded media could raise user trust and regulatory concerns, even if it also supports AI model development. If you use Google, you're training its AI. Here's how to opt out.

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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