BIP Wealth LLC Sells 3,292 Shares of Alphabet Inc. $GOOGL

Key Points

• BIP Wealth LLC cut its Alphabet stake by 14.5% in the first quarter, selling 3,292 shares and leaving it with 19,436 shares valued at about $5.59 million.
• Analysts remain broadly bullish on Alphabet, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $413.92.
• Alphabet continues to show strong fundamentals, including a recent earnings beat, a small dividend increase, and ongoing optimism around its AI and cloud businesses.

BIP Wealth LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,436 shares of the information services provider's stock after selling 3,292 shares during the period. BIP Wealth LLC's holdings in Alphabet were worth $5,589,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the 4th quarter valued at about $32,000. EMC Capital Management bought a new position in Alphabet in the 4th quarter valued at $33,000. PMV Capital Advisers LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Finally, Bard Associates Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,465 shares of company stock worth $8,020,511 over the last quarter. Insiders own 11.61% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: KeyCorp raised its price target on Alphabet to $445 from $425 and kept an overweight rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Multiple upbeat articles highlighted Alphabet as a leading AI and cloud beneficiary, with commentary pointing to strong distribution through Search, Android, YouTube, Google Cloud, and chips as reasons it could monetize AI better than peers.
• Positive Sentiment: New coverage argued Alphabet looks undervalued after a big run over the past year, while other pieces said the company remains one of the most attractive megacap tech names on a risk/reward basis.
• Positive Sentiment: Zacks and other market commentators continued to include GOOGL among cloud and internet stocks positioned to benefit from AI-driven data center spending and digital demand growth.
• Positive Sentiment: Business and tech commentary also pointed to product and platform strengths, including Google Search setting records during the World Cup and Waymo planning more driverless-car expansion, which support the long-term growth narrative.
• Neutral Sentiment: Alphabet said it will begin disclosing which ads are generated with AI, a transparency move that may help trust and compliance but is unlikely to materially change near-term earnings.
• Neutral Sentiment: Britain moved to regulate Google as a critical cloud supplier to protect financial stability; the change adds oversight, but it also underscores the importance of Google Cloud rather than signaling a fundamental business setback.
• Neutral Sentiment: Reuters reported that Google is appealing an Indian ads-related trademark ruling, a legal issue that could create some noise but does not yet appear to be a major stock-moving event.
• Neutral Sentiment: Recent short-interest data was effectively flat at zero shares reported, offering little actionable signal for traders.
• Negative Sentiment: One Reuters-linked report said Google and OpenAI provided AI services to Singapore-based subsidiaries of Chinese groups on the Pentagon blacklist, which could raise regulatory scrutiny and geopolitical concerns.
• Negative Sentiment: Technical commentary noted Alphabet is testing a key resistance zone after a recovery, suggesting the stock may need a fresh catalyst to extend its move higher.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $1.71 during midday trading on Friday, hitting $357.18. The company's stock had a trading volume of 18,122,822 shares, compared to its average volume of 32,870,564. The firm has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.53 and a beta of 1.24. 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 stock has a fifty day moving average price of $372.61 and a 200 day moving average price of $336.44. Alphabet Inc. has a one year low of $176.48 and a one year high of $408.61.

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 the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, research analysts forecast that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is presently 6.71%.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Wall Street Zen upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Phillip Securities boosted their target price on shares of Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a research note on Wednesday, April 15th. New Street Research increased their target price on shares of Alphabet from $450.00 to $455.00 and gave the company a "buy" rating in a research report on Friday, June 5th. China Renaissance raised their price target on shares of Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $413.92.

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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