Ballast Rock Private Wealth LLC Invests $2.24 Million in Alphabet Inc. $GOOGL

Key Points

• Ballast Rock Private Wealth LLC initiated a new position in Alphabet during the fourth quarter, buying 7,141 shares valued at about $2.24 million. The stock now represents 1.4% of the firm’s holdings and its 19th-largest position.
• Institutional interest in Alphabet remains strong, with several other funds increasing stakes and institutions collectively owning 40.03% of the company. Analysts also remain broadly bullish, with a consensus rating of Moderate Buy and an average price target of $412.65.
• Alphabet reported solid quarterly results and raised its dividend, posting $5.11 EPS versus expectations of $2.64 and revenue of $109.9 billion. The company also lifted its quarterly dividend to $0.22 per share, up from $0.21.

Ballast Rock Private Wealth LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,141 shares of the information services provider's stock, valued at approximately $2,235,000. Alphabet makes up 1.4% of Ballast Rock Private Wealth LLC's holdings, making the stock its 19th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in shares of Alphabet in the 3rd quarter valued at $416,217,000. NewEdge Wealth LLC raised its stake in Alphabet by 11.8% during the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after acquiring an additional 93,293 shares in the last quarter. Sovran Advisors LLC boosted its position in Alphabet by 23.6% in the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock valued at $5,401,000 after buying an additional 4,241 shares in the last quarter. Wright Investors Service Inc. grew its position in Alphabet by 21.2% during the 3rd quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock worth $12,171,000 after acquiring an additional 8,746 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of Alphabet by 5.4% during the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock valued at $17,652,000 after purchasing an additional 3,740 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Truist Financial boosted their price target on Alphabet from $385.00 to $415.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $435.00 target price (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Cantor Fitzgerald increased their price target on Alphabet from $395.00 to $465.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. New Street Research raised their price objective on Alphabet from $380.00 to $450.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Loop Capital lifted their price objective on Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $412.65.

Alphabet Stock Up 0.3%

Alphabet stock opened at $390.13 on Friday. The company has a market capitalization of $4.73 trillion, a PE ratio of 29.76, a PEG ratio of 1.66 and a beta of 1.26. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The firm's fifty day moving average is $344.32 and its 200 day moving average is $324.52. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

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 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 business had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's payout ratio is 6.41%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the completion of the sale, the chief executive officer owned 1,674,560 shares in the company, valued at approximately $508,028,012.80. The trade was a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 955 shares of Alphabet stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the transaction, the chief accounting officer owned 9,918 shares of the company's stock, valued at $2,955,564. This represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 226,481 shares of company stock valued at $27,422,061 over the last three months. 11.61% of the stock is currently owned by company insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google Cloud announced a partnership with Swedish private equity firm EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing Google Cloud’s enterprise AI momentum. Reuters: Private equity firm EQT partners with Google Cloud for AI rollout
• Positive Sentiment: Waymo, Alphabet’s self-driving unit, began opening its new Ojai robotaxi to select riders; the vehicle is designed to be cheaper to manufacture and lower fleet-expansion costs, which could improve the long-term economics of the business. CNBC: Waymo opens Ojai robotaxis to select riders
• Positive Sentiment: Cantor Fitzgerald reportedly reiterated a bullish view on Alphabet Class A shares, adding to the case that investors still see upside in the company’s core businesses and AI initiatives.
• Neutral Sentiment: Alphabet is testing Gemini-powered Search ad formats, including conversational discovery and highlighted answers, which could eventually boost monetization but is still in the early rollout phase. Yahoo Finance: GOOGL's Innovative Ad Format to Boost Search Growth
• Neutral Sentiment: Several pieces focused on Alphabet’s stock valuation and technical setup, including commentary suggesting support near current levels and possible upside toward $400, but these are market opinions rather than new fundamentals. Finbold: Google stock is guaranteed to hit $400...
• Negative Sentiment: The U.S. Justice Department charged a Google software engineer with insider trading tied to Polymarket bets, which adds reputational noise and could keep scrutiny on Alphabet’s internal controls and compliance culture. Reuters: US charges Google engineer with insider trading on Polymarket
• Negative Sentiment: Competitor commentary, including DuckDuckGo’s criticism of Google’s AI search overhaul and claims that some users are switching away, highlights ongoing competitive and antitrust pressure on Alphabet’s Search franchise. Yahoo Finance: 'It's Time To Fire Google,' Urges Alphabet's Search Engine Rival

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.

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