Gerber Kawasaki Wealth & Investment Management Increases Holdings in Alphabet Inc. $GOOGL

Key Points

• Gerber Kawasaki Wealth & Investment Management increased its Alphabet stake by 7.1% in the fourth quarter, bringing its holdings to 56,080 shares valued at about $17.6 million.
• Wall Street sentiment remains upbeat, with several analysts reiterating or raising buy/outperform ratings and an average price target of $413.13 for Alphabet.
• Alphabet reported strong quarterly results, beating earnings and revenue estimates, and also raised its quarterly dividend to $0.22 per share.

Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,080 shares of the information services provider's stock after purchasing an additional 3,713 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Alphabet were worth $17,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Symmetry Partners LLC boosted its position in Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock worth $2,476,000 after purchasing an additional 30 shares during the period. Members Trust Co boosted its position in Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock worth $2,014,000 after purchasing an additional 31 shares during the period. Altfest L J & Co. Inc. boosted its position in Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock valued at $2,489,000 after buying an additional 31 shares during the last quarter. Insight 2811 Inc. boosted its position in Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock valued at $978,000 after buying an additional 32 shares during the last quarter. Finally, LJI Wealth Management LLC boosted its position in Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider's stock valued at $2,274,000 after buying an additional 32 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho upped their price objective on shares of Alphabet from $420.00 to $460.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Wolfe Research decreased their price objective on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating for the company in a research report on Friday, April 10th. Wells Fargo & Company reissued an "overweight" rating and issued a $435.00 price objective (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Alphabet from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $413.13.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their position. The sale 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 company's stock in a transaction dated Friday, May 15th. The shares were 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. In the last quarter, insiders have sold 193,016 shares of company stock worth $17,282,549. Company insiders own 11.61% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet's Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic's Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Stock Performance

Shares of Alphabet stock opened at $359.68 on Friday. The firm has a market cap of $4.36 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. The firm's 50-day simple moving average is $360.45 and its 200-day simple moving average is $330.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Equities analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

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.

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