Cornerstone Planning LLC Acquires Shares of 21,507 Alphabet Inc. $GOOGL

Key Points

• Cornerstone Planning LLC disclosed a new stake in Alphabet, buying 21,507 shares valued at about $6.75 million in the fourth quarter. Alphabet now makes up roughly 1.5% of the firm’s portfolio.
• Several other institutions also added or increased positions, and 40.03% of Alphabet shares are held by institutional investors and hedge funds. Meanwhile, analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $413.13.
• Alphabet reported strong quarterly results, posting $5.11 EPS versus the expected $2.64 and revenue of $109.90 billion versus estimates. The company also raised its quarterly dividend to $0.22 per share, up from $0.21.

Cornerstone Planning LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,507 shares of the information services provider's stock, valued at approximately $6,747,000. Alphabet makes up approximately 1.5% of Cornerstone Planning LLC's portfolio, making the stock its 21st biggest position.

Other institutional investors also recently modified their holdings of the company. AMG Asset Management Group Inc. bought a new position in shares of Alphabet in the 4th quarter worth $895,000. Forty three Eighteen Advisors LLC bought a new stake in Alphabet during the 4th quarter valued at $2,205,000. Rockefeller Capital Management L.P. raised its holdings in Alphabet by 1.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,258,226 shares of the information services provider's stock worth $1,332,825,000 after buying an additional 55,876 shares during the last quarter. Bank of New Hampshire raised its holdings in Alphabet by 1.0% during the fourth quarter. Bank of New Hampshire now owns 42,635 shares of the information services provider's stock worth $13,345,000 after buying an additional 411 shares during the last quarter. Finally, Osbon Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at $611,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Roth Mkm reiterated a "buy" rating on shares of Alphabet in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 target price on shares of Alphabet and gave the stock a "buy" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $413.13.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company'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 SEC filing for this sale provides additional information. Insiders have sold 160,516 shares of company stock valued at $7,344,604 in the last quarter. 11.61% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $349.68 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The firm's 50-day simple moving average is $367.66 and its two-hundred day simple moving average is $332.31.

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 for the quarter, beating 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 the consensus estimate of $106.98 billion. As a group, equities analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date 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 yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best "Magnificent Seven" AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google's Self-Driving Dream Hitting a Wall?

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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