Green Ridge Wealth Planning LLC Purchases Shares of 20,711 Alphabet Inc. $GOOGL

Green Ridge Wealth Planning LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,711 shares of the information services provider's stock, valued at approximately $6,483,000. Alphabet accounts for about 3.3% of Green Ridge Wealth Planning LLC's holdings, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $32,000. EMC Capital Management acquired a new position in Alphabet during the fourth quarter valued at approximately $33,000. PMV Capital Advisers LLC bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. Finally, Bard Associates Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Down 5.0%

GOOGL opened at $349.68 on Tuesday. The stock has a fifty day moving average of $367.66 and a 200-day moving average of $332.31. The company has a market capitalization of $4.24 trillion, a P/E ratio of 26.67, a P/E/G ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio (DPR) is presently 6.71%.

Insider Transactions at Alphabet

In related news, 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 102 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. 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. Company insiders own 11.61% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best "Magnificent Seven" AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google's Self-Driving Dream Hitting a Wall?

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. Phillip Securities boosted their target price on shares of Alphabet from $340.00 to $395.00 and gave the stock a "moderate buy" rating in a report on Wednesday, April 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. CICC Research lifted their price objective on shares of Alphabet from $388.00 to $407.91 and gave the company an "outperform" rating in a research report on Friday, May 1st. UBS Group reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, May 20th. Finally, Loop Capital raised their target price on shares of Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $413.13.

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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