Corient Private Wealth LLC Purchases 6,554,842 Shares of Alphabet Inc. $GOOGL

Key Points

• Corient Private Wealth LLC significantly increased its Alphabet stake by 127.9% in the fourth quarter, adding 6.55 million shares and bringing its holdings to 11.68 million shares worth about $3.66 billion.
• Other institutional investors also raised their positions in Alphabet, and overall institutional ownership stands at 40.03% of the company’s stock.
• Analysts remain upbeat on GOOGL, with several raising price targets and the stock carrying a Moderate Buy consensus and an average target price of $413.13.

Corient Private Wealth LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 127.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,677,886 shares of the information services provider's stock after purchasing an additional 6,554,842 shares during the period. Alphabet comprises 1.9% of Corient Private Wealth LLC's investment portfolio, making the stock its 9th largest holding. Corient Private Wealth LLC owned approximately 0.10% of Alphabet worth $3,655,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its holdings in Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after purchasing an additional 48,805 shares during the period. Finally, United Bank increased its holdings in Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after purchasing an additional 3,120 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,516 shares of company stock worth $7,344,604 over the last ninety days. 11.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Evercore lifted their target price on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the company an "outperform" rating in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 target price on shares of Alphabet and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Dbs Bank raised their price target on shares of Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $413.13.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story got another boost after reports highlighted strong earnings momentum and a rapidly expanding Google Cloud backlog, reinforcing the view that business demand remains healthy. Alphabet Just Beat Earnings by 94% and Doubled Its Cloud Backlog to $460 Billion
• Positive Sentiment: Berkshire Hathaway disclosed that it nearly tripled its Alphabet stake, a notable vote of confidence from a major value investor that may support sentiment. Warren Buffett Just Tripled Down on the Stock Bill Ackman Is Selling
• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand AI usage, adding another large enterprise customer to Alphabet’s cloud growth narrative. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google unveiled new AI-related plans, including an “AI Control Roadmap” to address rogue AI agents, underscoring continued investment and leadership in AI infrastructure and safety. Google Devises Battle Plan to Combat Rogue AI Agents
• Neutral Sentiment: Google’s AI talent war remains a focus after Noam Shazeer, a co-lead on Gemini, reportedly left for OpenAI, which may raise questions about retention but does not change the core business overnight. Google's Gemini co-lead Noam Shazeer to join OpenAI
• Negative Sentiment: Waymo issued a recall of about 3,900 robotaxis after software issues caused vehicles to enter highway construction zones, adding regulatory and execution risk to Alphabet’s self-driving unit. Waymo to recall over 3,800 robotaxis over risk of entering closed construction zones
• Negative Sentiment: A director sold a meaningful block of shares, which can modestly weigh on sentiment even though insider sales are not always a bearish signal. SEC filing for John L. Hennessy sale

Alphabet Trading Up 1.3%

NASDAQ GOOGL opened at $368.48 on Friday. The business has a 50 day simple moving average of $366.01 and a 200 day simple moving average of $331.69. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The stock has a market capitalization of $4.46 trillion, a P/E ratio of 28.11, a P/E/G ratio of 1.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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 return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Research analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

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

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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