Elyxium Wealth LLC Raises Stock Position in Alphabet Inc. $GOOGL

Key Points

• Elyxium Wealth LLC increased its Alphabet stake by 359.9% in the second quarter, owning 82,918 shares worth approximately $29.6 million. Institutional investors and hedge funds hold 40.03% of Alphabet’s stock.
• Alphabet reported strong quarterly results, with EPS of $9.11 versus the $2.89 consensus and revenue of $119.8 billion. Analysts maintain a consensus “Buy” rating with an average price target of $420.19.
• Alphabet’s growth outlook continues to be supported by AI infrastructure investments and Waymo’s robotaxi expansion, although insiders sold 451,945 shares worth $12.4 million over the last quarter.

Elyxium Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 359.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,918 shares of the information services provider's stock after buying an additional 64,887 shares during the period. Alphabet accounts for about 3.1% of Elyxium Wealth LLC's holdings, making the stock its 7th biggest holding. Elyxium Wealth LLC's holdings in Alphabet were worth $29,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NewEdge Wealth LLC grew its position in shares of Alphabet by 11.8% during the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after buying an additional 93,293 shares during the period. PFG Investments LLC lifted its position in shares of Alphabet by 2.6% during the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock valued at $25,679,000 after acquiring an additional 2,269 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new position in shares of Alphabet during the 4th quarter valued at $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Alphabet by 17.1% during the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock worth $37,236,000 after acquiring an additional 17,415 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its stake in Alphabet by 66.1% during the fourth quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock worth $7,161,000 after acquiring an additional 9,105 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 82 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total value of $27,337.98. Following the transaction, the director owned 18,914 shares in the company, valued at approximately $6,305,738.46. This trade represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 451,945 shares of company stock valued at $12,382,714. 11.61% of the stock is owned by corporate insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOOGL shares. JPMorgan Chase & Co. restated a "buy" rating on shares of Alphabet in a report on Monday, May 4th. UBS Group dropped their price objective on shares of Alphabet from $400.00 to $379.00 and set a "neutral" rating on the stock in a report on Thursday, July 23rd. Daiwa Securities Group raised their target price on Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Guggenheim restated a "buy" rating and issued a $450.00 target price (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Arete Research boosted their target price on Alphabet from $405.00 to $425.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $420.19.

Alphabet Price Performance

GOOGL stock opened at $344.82 on Friday. The company has a market capitalization of $4.22 trillion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a 52-week low of $201.30 and a 52-week high of $408.61. The business has a 50-day simple moving average of $352.00 and a two-hundred day simple moving average of $341.37.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is 4.42%.

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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