Alphabet Inc. $GOOGL Shares Sold by Beirne Wealth Consulting Services LLC

Key Points

• Beirne Wealth Consulting Services LLC cut its Alphabet stake by 39.1% in the fourth quarter, selling 3,804 shares and ending with 5,936 shares valued at about $1.86 million.
• Wall Street remains upbeat on Alphabet, with several firms raising price targets and the stock holding a consensus rating of “Moderate Buy” with an average target of $407.86.
• Alphabet recently reported earnings and revenue above expectations and announced a higher quarterly dividend of $0.22 per share, up from $0.21.

Beirne Wealth Consulting Services LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 39.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,936 shares of the information services provider's stock after selling 3,804 shares during the quarter. Beirne Wealth Consulting Services LLC's holdings in Alphabet were worth $1,858,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC boosted its stake in Alphabet by 1.3% during the 4th quarter. Verdence Capital Advisors LLC now owns 80,856 shares of the information services provider's stock worth $25,308,000 after purchasing an additional 1,051 shares during the last quarter. Scissortail Wealth Management LLC boosted its stake in Alphabet by 6.3% during the 4th quarter. Scissortail Wealth Management LLC now owns 5,068 shares of the information services provider's stock worth $1,586,000 after purchasing an additional 300 shares during the last quarter. Elevated Financial Group LLC acquired a new stake in Alphabet during the 4th quarter worth $2,309,000. Simon Quick Advisors LLC boosted its stake in Alphabet by 21.3% during the 4th quarter. Simon Quick Advisors LLC now owns 24,845 shares of the information services provider's stock worth $7,776,000 after purchasing an additional 4,368 shares during the last quarter. Finally, Facet Wealth Inc. boosted its stake in Alphabet by 46.2% during the 4th quarter. Facet Wealth Inc. now owns 16,095 shares of the information services provider's stock worth $5,408,000 after purchasing an additional 5,087 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GOOGL shares. BMO Capital Markets lifted their target price on shares of Alphabet from $410.00 to $435.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Daiwa Securities Group lifted their target price on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $390.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. Dbs Bank lifted their target price on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Finally, Phillip Securities lifted their target price on shares of Alphabet from $340.00 to $395.00 and gave the stock a "moderate buy" rating in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $407.86.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $302.99, for a total transaction of $33,934.88. Following the transaction, the director owned 18,418 shares in the company, valued at $5,580,469.82. The trade was a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 955 shares of Alphabet stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer owned 9,918 shares in the company, valued at approximately $2,955,564. This represents a 8.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 157,953 shares of company stock worth $47,767,818. Corporate insiders own 11.61% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being viewed as a major AI winner, with multiple reports highlighting strong demand for its infrastructure, cloud, and Gemini AI efforts as hyperscalers pour capital into AI. Hyperscalers Now Competing With US Treasury for Capital, Driving Up Government Borrowing Costs
• Positive Sentiment: Alphabet’s stock has been re-rated higher by the market, with analysts and commentators pointing to a stronger valuation profile and improved confidence in its earnings power. Why The Market Is Re-Rating Google Stock
• Positive Sentiment: Alphabet’s Google Pay partnership with Affirm could broaden monetization and make Google’s payments ecosystem more attractive to consumers and merchants. Affirm's Google Deal Aims for Your Wallet (GOOGL)
• Positive Sentiment: Reports say Alphabet is gaining momentum in government AI contracts, which could open a new high-value revenue stream and help diversify away from ads. Why Palantir Suddenly Looks Vulnerable After Google’s Move

Alphabet Stock Down 0.4%

NASDAQ GOOGL opened at $401.07 on Friday. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $403.70. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $327.43 and its 200-day simple moving average is $316.71. The firm has a market cap of $4.86 trillion, a PE ratio of 30.59, a P/E/G ratio of 1.72 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is presently 6.41%.

About Alphabet

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.