Haven Capital Group Inc. Buys Shares of 24,112 Alphabet Inc. $GOOGL

Key Points

• Haven Capital Group opened a new position in Alphabet, buying 24,112 shares valued at about $6.9 million. Alphabet now represents roughly 6.4% of the fund’s holdings and is its fourth-largest position.
• Alphabet continues to attract institutional interest, though insiders have also been selling shares in recent months. Over the last 90 days, insiders sold 160,465 shares worth about $8.0 million.
• The stock has support from both fundamentals and analyst sentiment: Alphabet recently beat earnings and revenue estimates, raised its quarterly dividend to $0.22 per share, and Wall Street maintains a Moderate Buy consensus with an average target price of $413.90.

Haven Capital Group Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,112 shares of the information services provider's stock, valued at approximately $6,934,000. Alphabet makes up about 6.4% of Haven Capital Group Inc.'s holdings, making the stock its 4th biggest position.

A number of other institutional investors also recently made changes to their positions in GOOGL. Symmetry Partners LLC raised its holdings in Alphabet by 0.4% during the fourth 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 in the last quarter. Members Trust Co boosted its stake in Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock valued at $2,014,000 after purchasing an additional 31 shares in the last quarter. Altfest L J & Co. Inc. boosted its stake in Alphabet by 0.4% during 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 purchasing an additional 31 shares in the last quarter. Insight 2811 Inc. increased its position in shares of Alphabet by 1.0% during the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock valued at $978,000 after purchasing an additional 32 shares during the period. Finally, LJI Wealth Management LLC increased its position in shares of Alphabet by 0.4% during 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 purchasing an additional 32 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 160,465 shares of company stock worth $8,020,511 over the last ninety days. Insiders own 11.61% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Alphabet Trading Up 1.1%

Shares of GOOGL stock opened at $361.21 on Thursday. The stock has a market cap of $4.38 trillion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 1.53 and a beta of 1.24. 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 52-week low of $172.77 and a 52-week high of $408.61. The firm has a fifty day moving average of $370.08 and a 200-day moving average of $333.88.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for 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 research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOGL. Needham & Company LLC restated a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a report on Wednesday, June 3rd. Wolfe Research lowered their target price on Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a report on Friday, April 10th. Rothschild & Co Redburn upped their price target on shares of Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Citizens Jmp restated a "market outperform" rating and issued a $515.00 target price on shares of Alphabet in a report on Wednesday, May 20th. Finally, President Capital raised their price objective on shares of Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Two 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $413.90.

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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