Fire Capital Management LLC Has $1.12 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Fire Capital Management boosted its Alphabet stake by 173% in the fourth quarter, bringing its position to 3,582 shares worth about $1.12 million.
• Alphabet posted strong Q1 results, reporting EPS of $5.11 versus the $2.64 estimate and revenue of $109.9 billion, both ahead of analyst expectations.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remained broadly positive with a consensus Moderate Buy rating and average price target of $412.65.

Fire Capital Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 173.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,582 shares of the information services provider's stock after buying an additional 2,270 shares during the period. Fire Capital Management LLC's holdings in Alphabet were worth $1,121,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of GOOGL. CIBC Bancorp USA Inc. acquired a new position in Alphabet in the 3rd quarter worth about $416,217,000. Sovran Advisors LLC increased its holdings in Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock worth $5,401,000 after purchasing an additional 4,241 shares in the last quarter. Wright Investors Service Inc. increased its holdings in Alphabet by 21.2% in the 3rd quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock worth $12,171,000 after purchasing an additional 8,746 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Alphabet by 5.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock worth $17,652,000 after purchasing an additional 3,740 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Alphabet by 3.8% in the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock worth $405,131,000 after purchasing an additional 60,831 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 617 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 226,481 shares of company stock worth $27,422,061 over the last quarter. 11.61% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $382.97 on Monday. The business's 50-day moving average price is $337.75 and its two-hundred day moving average price is $321.52. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The firm has a market capitalization of $4.64 trillion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS 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 firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, analysts expect that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is currently 6.41%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google's AI glasses and they're almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson upped their target price on Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. DZ Bank reaffirmed a "buy" rating on shares of Alphabet in a report on Monday, February 16th. The Goldman Sachs Group upped their target price on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Cantor Fitzgerald upped their target price on Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Canaccord Genuity Group upped their target price on Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $412.65.

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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