Hoey Investments Inc. Has $9.66 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Hoey Investments Inc. increased its Alphabet stake by 19.1% in the first quarter, buying 5,388 additional shares. The firm now owns 33,578 shares valued at about $9.66 million, making Alphabet its 11th-largest holding.
• Wall Street sentiment remains positive on Alphabet, with analysts maintaining a “Moderate Buy” consensus and an average price target of $413.73. Recent firm actions include buy ratings and higher price targets from several major banks.
• Alphabet continues to show strong operating results, having recently posted EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion. The company also raised its quarterly dividend to $0.22 per share, though insider selling has been notable in recent months.

Hoey Investments Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,578 shares of the information services provider's stock after acquiring an additional 5,388 shares during the period. Alphabet accounts for about 1.4% of Hoey Investments Inc.'s portfolio, making the stock its 11th biggest position. Hoey Investments Inc.'s holdings in Alphabet were worth $9,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Alphabet during the first quarter valued at approximately $1,819,000. Resonant Capital Advisors LLC raised its position in Alphabet by 13.9% in the first quarter. Resonant Capital Advisors LLC now owns 48,066 shares of the information services provider's stock valued at $13,822,000 after purchasing an additional 5,881 shares during the last quarter. Clare Market Investments LLC bought a new position in Alphabet in the 1st quarter valued at approximately $24,181,000. Advance Capital Management Inc. raised its stake in shares of Alphabet by 3.0% during the first quarter. Advance Capital Management Inc. now owns 8,704 shares of the information services provider's stock valued at $2,503,000 after acquiring an additional 251 shares during the last quarter. Finally, Downshift Financial LLC raised its position in Alphabet by 91.6% during the 1st quarter. Downshift Financial LLC now owns 1,732 shares of the information services provider's stock worth $498,000 after purchasing an additional 828 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOGL shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Freedom Capital lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. The Goldman Sachs Group raised their price objective on shares of Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Canaccord Genuity Group lifted their target price on Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, BNP Paribas Exane boosted their price target on shares of Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Three investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $413.73.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he initiated Berkshire Hathaway’s Alphabet investment, a high-profile endorsement that is helping sentiment around Alphabet (GOOGL). Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Multiple analyst previews say Alphabet’s AI momentum, cloud backlog, and earnings growth expectations could support another strong quarter, keeping investors upbeat ahead of results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
• Positive Sentiment: Zacks upgraded Alphabet to strong-buy, citing earnings growth expectations and attractive fundamentals relative to its valuation. Zacks upgrade to strong-buy
• Neutral Sentiment: Alphabet expanded its clean-energy commitments with its largest solar and battery storage purchase yet, which supports its long-term infrastructure strategy but is not an immediate earnings driver. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
• Neutral Sentiment: Alphabet also drew attention for a new collaboration with INVIDI Technologies to extend addressable advertising to set-top boxes, a potentially helpful ad-tech expansion but still early-stage. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager
• Negative Sentiment: The European Commission is preparing new fines against Google, renewing regulatory risk and adding pressure to Alphabet’s legal overhang. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google is also fighting antitrust scrutiny in Europe and Switzerland, including efforts to preserve a court ruling that overturned a $1.7 billion EU fine and a new Swiss probe over Android search defaults. Google urges EU top court to back ruling scrapping $1.7 billion antitrust fine
• Negative Sentiment: Separate reports raised concerns about Google’s AI search tools and a DeepMind researcher’s resignation over the company’s Pentagon work, both of which could add reputational risk. A DeepMind researcher resigned over its AI military deal

Alphabet Price Performance

Alphabet stock opened at $370.92 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $4.49 trillion, a P/E ratio of 28.29, a PEG ratio of 1.54 and a beta of 1.24. Alphabet Inc. has a one year low of $180.48 and a one year high of $408.61. The business has a fifty day moving average price of $370.84 and a 200-day moving average price of $337.62.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities research analysts forecast that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

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

Insider Buying and Selling

In related news, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 159,415 shares of company stock valued at $7,672,279 in the last 90 days. 11.61% of the stock is owned by company insiders.

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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