Evansbrook LLC Makes New Investment in Alphabet Inc. $GOOGL

Key Points

• Evansbrook LLC opened a new position in Alphabet, buying 9,494 shares valued at about $2.97 million; Alphabet now ranks as its fifth-largest holding.
• Alphabet reported strong quarterly results, with earnings of $5.11 per share versus expectations of $2.64 and revenue of $109.9 billion, both topping analyst estimates.
• Sentiment remains broadly positive: several major firms raised price targets, and analysts currently rate the stock a Moderate Buy with an average target of $413.13.

Evansbrook LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,494 shares of the information services provider's stock, valued at approximately $2,971,000. Alphabet makes up about 2.0% of Evansbrook LLC's holdings, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Vanguard Group Inc. raised its stake in Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. State Street Corp lifted its holdings in shares of Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after buying an additional 2,666,676 shares during the period. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter worth $30,534,239,000. Finally, Bank of America Corp DE grew its holdings in shares of Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after buying an additional 3,218,852 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL opened at $368.48 on Friday. 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 company has a market cap of $4.46 trillion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23. The stock has a 50-day moving average of $366.01 and a 200-day moving average of $331.69. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61.

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

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the transaction, the director owned 18,721 shares of the company's stock, valued at $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 160,516 shares of company stock valued at $7,344,604. 11.61% of the stock is owned by company insiders.

Key Stories Impacting 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

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Evercore upped their price target on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Guggenheim restated a "buy" rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Oppenheimer lifted their target price on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. The Goldman Sachs Group upped their target price on Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Daiwa Securities Group increased their price target on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Two investment 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $413.13.

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.