HB Wealth Management LLC Has $135.70 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• HB Wealth Management LLC increased its Alphabet stake by 3.4% in the fourth quarter, buying 14,385 more shares and bringing its total to 433,552 shares worth about $135.7 million.
• Alphabet continues to draw positive attention from analysts and investors, with multiple firms raising price targets after its earnings beat and the stock carrying a consensus “Moderate Buy” rating.
• The company reported strong quarterly results, with EPS of $5.11 on revenue of $109.9 billion, while also announcing a higher quarterly dividend of $0.22 per share.

HB Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 433,552 shares of the information services provider's stock after purchasing an additional 14,385 shares during the period. Alphabet makes up about 0.9% of HB Wealth Management LLC's holdings, making the stock its 20th biggest position. HB Wealth Management LLC's holdings in Alphabet were worth $135,702,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. PMV Capital Advisers LLC bought a new stake in Alphabet in the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Alphabet in the third quarter worth approximately $53,000. Kentucky Trust Co increased its holdings in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after purchasing an additional 100 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in Alphabet in the third quarter worth approximately $53,000. Finally, Sellwood Investment Partners LLC bought a new stake in Alphabet in the third quarter worth approximately $63,000. 40.03% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total value of $9,859,850.00. Following the completion of the transaction, the chief executive officer directly owned 1,674,560 shares of the company's stock, valued at $508,028,012.80. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the transaction, the director directly owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 158,553 shares of company stock valued at $47,951,856. Insiders own 11.61% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Wedbush lifted their target price on Alphabet from $360.00 to $370.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Alphabet in a report on Monday, May 4th. Canaccord Genuity Group lifted 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. Argus upped their price target on Alphabet from $365.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Finally, Phillip Securities upped their price target on Alphabet from $340.00 to $395.00 and gave the stock a "moderate buy" rating in a research note on Wednesday, April 15th. 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, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $407.86.

Alphabet Stock Performance

GOOGL stock opened at $400.69 on Friday. The firm has a market cap of $4.85 trillion, a PE ratio of 30.56, a P/E/G ratio of 1.67 and a beta of 1.26. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $318.66 and a 200-day moving average of $311.72. Alphabet Inc. has a 12-month low of $152.20 and a 12-month high of $402.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, sell-side analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

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

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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