Cidel Asset Management Inc. Boosts Stock Position in Alphabet Inc. $GOOGL

Key Points

• Cidel Asset Management increased its Alphabet stake by 11.8% in the first quarter, adding 3,934 shares to bring its total to 37,248 shares worth about $10.7 million.
• Wall Street remains broadly bullish on GOOGL, with 47 Buy ratings, 2 Strong Buy ratings, and a consensus Moderate Buy view; the average price target is $413.13.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.

Cidel Asset Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 37,248 shares of the information services provider's stock after acquiring an additional 3,934 shares during the period. Cidel Asset Management Inc.'s holdings in Alphabet were worth $10,711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Symmetry Partners LLC grew its holdings in Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after buying an additional 30 shares during the period. Members Trust Co lifted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock worth $2,014,000 after acquiring an additional 31 shares during the period. Altfest L J & Co. Inc. boosted its position in shares of Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock worth $2,489,000 after acquiring an additional 31 shares during the last quarter. Insight 2811 Inc. grew its holdings in Alphabet by 1.0% in the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock valued at $978,000 after purchasing an additional 32 shares during the period. Finally, LJI Wealth Management LLC grew its holdings in Alphabet by 0.4% in the fourth quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider's stock valued at $2,274,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOGL shares. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research note on Thursday, April 30th. HSBC restated a "buy" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Evercore increased their target price on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Needham & Company LLC reiterated a "buy" rating and issued a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus set a $420.00 price target on Alphabet and gave the company a "buy" rating in a research report on Thursday, April 30th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here's Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Alphabet Stock Performance

Shares of GOOGL stock opened at $337.39 on Monday. 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 company has a market cap of $4.09 trillion, a PE ratio of 25.74, a P/E/G ratio of 1.44 and a beta of 1.23. The company's fifty day simple moving average is $368.94 and its 200-day simple moving average is $333.02. Alphabet Inc. has a 52 week low of $171.73 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share 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 firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. 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. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 151,523 shares of company stock worth $4,863,526 in the last ninety days. 11.61% of the stock is owned by corporate insiders.

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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