Avidian Wealth Enterprises LLC Raises Stake in Alphabet Inc. $GOOGL

Key Points

• Avidian Wealth Enterprises LLC boosted its Alphabet stake by 14.4% in the fourth quarter, bringing its holdings to 40,060 shares worth about $12.5 million.
• Alphabet’s latest earnings beat expectations, reporting $5.11 EPS versus $2.64 expected and revenue of $109.9 billion, while the stock was noted as down 1.2% on the day.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $412.65.

Avidian Wealth Enterprises LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,060 shares of the information services provider's stock after acquiring an additional 5,033 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Alphabet were worth $12,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY increased its stake 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 valued at $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Alphabet by 11.2% during 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 in the last quarter. Finally, United Bank boosted its position in shares of 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 purchasing an additional 3,120 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google's AI glasses and they're almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. China Renaissance boosted their price objective on shares of Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Wells Fargo & Company reiterated an "overweight" rating and set a $435.00 price objective (up from $427.00) on shares of Alphabet in a report on Wednesday. Freedom Capital lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Needham & Company LLC reiterated a "buy" rating and set a $450.00 price objective on shares of Alphabet in a report on Wednesday. Finally, Sanford C. Bernstein reiterated 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. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $412.65.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 102 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the sale, the director owned 18,621 shares in the company, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 226,481 shares of company stock valued at $27,422,061. 11.61% of the stock is currently owned by insiders.

Alphabet Stock Down 1.2%

GOOGL stock opened at $382.97 on Friday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.64 trillion, a P/E ratio of 29.21, a PEG ratio of 1.66 and a beta of 1.26. The firm has a 50 day simple moving average of $337.75 and a 200-day simple moving average of $321.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities research analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid 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 dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

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.

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