Audent Global Asset Management LLC Has $14.70 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Audent Global Asset Management increased its Alphabet stake by 12% in the fourth quarter, bringing its holdings to 46,963 shares worth about $14.7 million. Alphabet is now the firm’s third-largest position and makes up 6.2% of its portfolio.
• Alphabet continues to draw mixed investor attention: analysts remain broadly positive on its AI and cloud growth, but concerns are rising over high AI spending, talent departures, and execution risk at Waymo.
• The company recently topped earnings expectations with $5.11 EPS versus $2.64 expected and raised its quarterly dividend to $0.22 per share. Analysts maintain a Moderate Buy consensus with an average target price of $413.13.

Audent Global Asset Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 46,963 shares of the information services provider's stock after purchasing an additional 5,041 shares during the quarter. Alphabet accounts for about 6.2% of Audent Global Asset Management LLC's investment portfolio, making the stock its 3rd biggest position. Audent Global Asset Management LLC's holdings in Alphabet were worth $14,699,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% during 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 in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its position in Alphabet by 17.6% in the 2nd 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 last quarter. Sequoia Financial Advisors LLC raised its position in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares during the last quarter. Finally, United Bank lifted its holdings in Alphabet by 6.9% during the 2nd 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. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best "Magnificent Seven" AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google's Self-Driving Dream Hitting a Wall?

Alphabet Price Performance

Shares of GOOGL opened at $349.68 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The stock has a market cap of $4.24 trillion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The stock's 50-day moving average price is $367.66 and its two-hundred day moving average price is $332.31.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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 analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOGL shares. Jefferies Financial Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, May 20th. Bank of America upped their price target on Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. CICC Research boosted their price objective on Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Truist Financial set a $430.00 price objective on Alphabet and gave the stock a "buy" rating in a report on Friday, May 29th. Two investment 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 an average target price of $413.13.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 102 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the sale, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 160,516 shares of company stock valued at $7,344,604. Corporate insiders own 11.61% of the company's stock.

Alphabet Company 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.