Cornerstone Financial Management LLC Makes New $1.01 Million Investment in Alphabet Inc. $GOOGL

Cornerstone Financial Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,228 shares of the information services provider's stock, valued at approximately $1,010,000.

Several other large investors have also made changes to their positions in GOOGL. PMV Capital Advisers LLC bought a new stake in Alphabet during the fourth quarter worth about $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $52,000. Kentucky Trust Co boosted its holdings in shares of Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after acquiring an additional 100 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in Alphabet during the 3rd quarter worth approximately $53,000. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares of the company's stock, valued at $995,341.06. The trade was a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 191,966 shares of company stock valued at $16,963,968. 11.61% of the stock is currently owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet's Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic's Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Price Performance

Shares of GOOGL stock opened at $359.68 on Monday. The firm has a market cap of $4.36 trillion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.54 and a beta of 1.23. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $360.45 and a 200 day moving average price of $330.34.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Research analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Mizuho raised their price target on Alphabet from $420.00 to $460.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. President Capital increased their target price on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Bank of America raised their target price on Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Tigress Financial set a $415.00 price target on Alphabet and gave the company a "strong-buy" rating in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. reiterated a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $413.13.

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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