Curry Webb Wealth Management LLC Invests $447,000 in Alphabet Inc. $GOOGL

Key Points

• Curry Webb Wealth Management acquired 1,554 Alphabet shares worth approximately $447,000 in the first quarter. Institutional investors collectively own about 40.03% of Alphabet.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $419.86; recent targets range from $420 to $455.
• Alphabet reported quarterly revenue of $119.80 billion and adjusted earnings per share of $9.11, surpassing estimates. The company also declared a quarterly dividend of $0.22 per share, representing a 0.2% yield.

Curry Webb Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,554 shares of the information services provider's stock, valued at approximately $447,000.

Several other large investors have also bought and sold shares of GOOGL. EMC Capital Management acquired a new stake in Alphabet in the 4th quarter valued at about $33,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the 4th quarter valued at about $32,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $52,000. Finally, Kentucky Trust Co grew its stake 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 purchasing an additional 100 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Friday, July 17th. New Street Research lifted their price target on shares of Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the company a "buy" rating in a research report on Thursday, April 30th. Six investment 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's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $419.86.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 600,547 shares of company stock worth $16,255,540. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $354.30 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The company has a market cap of $4.33 trillion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24. Alphabet Inc. has a 52 week low of $196.60 and a 52 week high of $408.61. The firm has a 50 day simple moving average of $355.68 and a 200 day simple moving average of $340.49.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. As a group, research analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is 4.42%.

Key Headlines Impacting Alphabet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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