Ashton Thomas Private Wealth LLC Has $40.16 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Ashton Thomas Private Wealth LLC cut its Alphabet stake by 22.4% in the fourth quarter, but still held 128,290 shares valued at about $40.16 million.
• Wall Street sentiment remains upbeat: multiple firms raised price targets, and analysts now show a Moderate Buy consensus with an average target price of $410.84.
• Alphabet reported strong quarterly results, beating EPS and revenue estimates, and also raised its quarterly dividend to $0.22 per share while continuing to highlight AI momentum and infrastructure spending.

Ashton Thomas Private Wealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 128,290 shares of the information services provider's stock after selling 37,084 shares during the period. Alphabet accounts for about 1.0% of Ashton Thomas Private Wealth LLC's holdings, making the stock its 14th largest position. Ashton Thomas Private Wealth LLC's holdings in Alphabet were worth $40,155,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hingham Institution for Savings acquired a new position in Alphabet in the 4th quarter valued at $46,621,000. RMR Wealth Builders grew its holdings in Alphabet by 9.7% in the 4th quarter. RMR Wealth Builders now owns 19,359 shares of the information services provider's stock valued at $6,059,000 after buying an additional 1,709 shares during the last quarter. Anchyra Partners LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $8,564,000. First National Bank & Trust Co. of Newtown grew its holdings in Alphabet by 5.0% in the 4th quarter. First National Bank & Trust Co. of Newtown now owns 15,645 shares of the information services provider's stock valued at $4,897,000 after buying an additional 742 shares during the last quarter. Finally, Wheelhouse Advisory Group LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $302,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
• Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
• Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
• Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
• Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
• Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
• Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
• Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOGL. Truist Financial raised their target price on Alphabet from $385.00 to $415.00 and gave the company a "buy" rating in a report on Thursday, April 30th. BNP Paribas Exane raised their price target on shares of Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Bank of America raised their price target on shares of Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Sanford C. Bernstein reissued a "market perform" rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Moffett Nathanson lifted their price objective on Alphabet from $305.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. 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 stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $410.84.

Alphabet Price Performance

NASDAQ:GOOGL opened at $396.78 on Friday. The firm has a market cap of $4.81 trillion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. Alphabet Inc. has a 12 month low of $162.00 and a 12 month 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 company's 50-day moving average price is $329.30 and its two-hundred day moving average price is $317.27.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is currently 6.41%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 47,574 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider owned 13,227 shares of the company's stock, valued at $3,987,279.15. This represents a 78.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director directly owned 4,631 shares in the company, valued at $1,405,091.71. This trade represents a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 157,953 shares of company stock valued at $47,767,818 in the last three months. 11.61% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

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.