Caerus Investment Advisors LLC Has $4.52 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Caerus Investment Advisors increased its Alphabet stake by 10.6% in the first quarter, owning 15,715 shares valued at approximately $4.52 million. Institutional investors collectively own 40.03% of Alphabet’s stock.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $419.86; six analysts rate the stock a Strong Buy and 44 rate it a Buy.
• Alphabet reported strong quarterly results, including $9.11 in earnings per share and $119.80 billion in revenue, both above estimates. The company also declared a quarterly dividend of $0.22 per share, representing a 0.2% annualized yield.

Caerus Investment Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,715 shares of the information services provider's stock after purchasing an additional 1,504 shares during the period. Alphabet comprises approximately 1.9% of Caerus Investment Advisors LLC's portfolio, making the stock its 12th biggest position. Caerus Investment Advisors LLC's holdings in Alphabet were worth $4,519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after purchasing an additional 2,666,676 shares in the last quarter. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at about $30,534,239,000. Finally, Bank of America Corp DE boosted its holdings in Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock worth $21,630,861,000 after purchasing an additional 3,218,852 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. Morgan Stanley set a $400.00 price objective on shares of Alphabet and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. China Renaissance boosted their target price on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. CICC Research upped their target price on Alphabet from $388.00 to $407.91 and gave the company an "outperform" rating in a report on Friday, May 1st. Finally, Wall Street Zen lowered Alphabet from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Six 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, the stock has a consensus rating of "Buy" and a consensus target price of $419.86.

Insider Transactions at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business's 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 sale, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 600,547 shares of company stock valued at $16,255,540. Corporate insiders own 11.61% of the company's stock.

Alphabet Stock Down 1.0%

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

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. As a group, equities analysts predict that Alphabet Inc. will post 20.51 EPS 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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Key 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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