Axxcess Wealth Management LLC Purchases 5,976 Shares of Alphabet Inc. $GOOGL

Key Points

• Axxcess Wealth Management increased its Alphabet stake by 3.0% in the fourth quarter, buying 5,976 shares and bringing its total holding to 204,733 shares valued at about $61.7 million.
• Institutional interest in Alphabet remains strong, with major investors like Norges Bank, Berkshire Hathaway, Vanguard, and others adding to positions; roughly 40.03% of the stock is now owned by institutional investors.
• Alphabet continues to draw positive analyst attention, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $413.13.

Axxcess Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,733 shares of the information services provider's stock after buying an additional 5,976 shares during the quarter. Alphabet makes up about 0.7% of Axxcess Wealth Management LLC's holdings, making the stock its 19th largest position. Axxcess Wealth Management LLC's holdings in Alphabet were worth $61,717,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth about $30,534,239,000. Berkshire Hathaway Inc bought a new stake in Alphabet in the 3rd quarter valued at about $4,338,397,000. Cardano Risk Management B.V. lifted its holdings in Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock valued at $4,546,413,000 after purchasing an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. Finally, Capital World Investors boosted its position in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. BNP Paribas Exane lifted their target price on shares of Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Rothschild & Co Redburn upped their price target on shares of Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $445.00 price objective (up from $425.00) on shares of Alphabet in a report on Monday, June 1st. Evercore raised their price objective on shares of Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $393.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $413.13.

Alphabet Trading Up 1.3%

Shares of Alphabet stock opened at $368.48 on Friday. The company's 50-day moving average price is $366.01 and its 200-day moving average price is $331.69. 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 12-month low of $162.00 and a 12-month high of $408.61. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.56 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating 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 net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story got another boost after reports highlighted strong earnings momentum and a rapidly expanding Google Cloud backlog, reinforcing the view that business demand remains healthy. Alphabet Just Beat Earnings by 94% and Doubled Its Cloud Backlog to $460 Billion
• Positive Sentiment: Berkshire Hathaway disclosed that it nearly tripled its Alphabet stake, a notable vote of confidence from a major value investor that may support sentiment. Warren Buffett Just Tripled Down on the Stock Bill Ackman Is Selling
• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand AI usage, adding another large enterprise customer to Alphabet’s cloud growth narrative. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google unveiled new AI-related plans, including an “AI Control Roadmap” to address rogue AI agents, underscoring continued investment and leadership in AI infrastructure and safety. Google Devises Battle Plan to Combat Rogue AI Agents
• Neutral Sentiment: Google’s AI talent war remains a focus after Noam Shazeer, a co-lead on Gemini, reportedly left for OpenAI, which may raise questions about retention but does not change the core business overnight. Google's Gemini co-lead Noam Shazeer to join OpenAI
• Negative Sentiment: Waymo issued a recall of about 3,900 robotaxis after software issues caused vehicles to enter highway construction zones, adding regulatory and execution risk to Alphabet’s self-driving unit. Waymo to recall over 3,800 robotaxis over risk of entering closed construction zones
• Negative Sentiment: A director sold a meaningful block of shares, which can modestly weigh on sentiment even though insider sales are not always a bearish signal. SEC filing for John L. Hennessy sale

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director owned 2,531 shares in the company, valued at $995,341.06. This trade represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 160,516 shares of company stock worth $7,344,604. 11.61% of the stock is owned by corporate insiders.

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.

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