Blue Fin Capital Inc. Has $29.40 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Blue Fin Capital reduced its Alphabet stake by 2.1% in the first quarter, selling 2,167 shares and retaining 102,231 shares valued at approximately $29.4 million. Alphabet remains 4.8% of the fund’s portfolio and its fourth-largest holding.
• Alphabet reported quarterly revenue of $119.8 billion and earnings of $9.11 per share, exceeding analyst expectations. The company also announced a quarterly dividend of $0.22 per share.
• Analysts remain broadly bullish, with 50 of 54 covering analysts rating the stock Buy or Strong Buy and a consensus price target of $419.86, versus a recent share price of $354.30.

Blue Fin Capital Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,231 shares of the information services provider's stock after selling 2,167 shares during the period. Alphabet comprises 4.8% of Blue Fin Capital Inc.'s investment portfolio, making the stock its 4th biggest holding. Blue Fin Capital Inc.'s holdings in Alphabet were worth $29,398,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOGL. EMC Capital Management bought a new position in shares of Alphabet in the fourth quarter valued at approximately $33,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet during the fourth quarter worth $38,000. Bard Associates Inc. bought a new stake in Alphabet during the fourth quarter worth $52,000. Finally, Kentucky Trust Co raised its position in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after buying an additional 100 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 1.0%

Shares of GOOGL stock opened at $354.30 on Friday. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 0.99 and a beta of 1.24. The company has a 50 day moving average of $355.68 and a 200-day moving average of $340.41. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Sell-side analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's payout ratio is presently 4.42%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Guggenheim restated a "buy" rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Alphabet in a research note on Monday, June 22nd. Dbs Bank increased their target price on shares of Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Canaccord Genuity Group raised their price target on shares of Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Needham & Company LLC reissued a "buy" rating and set a $450.00 price target on shares of Alphabet in a research report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Buy" and a consensus target price of $419.86.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares of the company's stock, valued at $9,125,015.20. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 600,547 shares of company stock valued at $16,255,540. Corporate insiders own 11.61% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

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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