January Capital Advisors LLC Acquires New Stake in Alphabet Inc. $GOOGL

Key Points

• January Capital Advisors acquired 1,913 Alphabet shares worth approximately $550,000, making GOOGL its 28th-largest portfolio holding. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet insiders have recently been net sellers, including director John L. Hennessy and insider John Kent Walker; insiders sold approximately $16.3 million of stock over the past 90 days.
• Analysts remain bullish, with Alphabet carrying a “Buy” consensus rating and an average price target of $419.86. The company also reported quarterly revenue of $119.8 billion, above expectations, and declared a quarterly dividend of $0.22 per share.

January Capital Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,913 shares of the information services provider's stock, valued at approximately $550,000. Alphabet comprises approximately 0.7% of January Capital Advisors LLC's investment portfolio, making the stock its 28th biggest position.

A number of other large investors have also modified their holdings of the business. Strategic Wealth Advisors LLC lifted its stake in Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after acquiring an additional 27 shares during the last quarter. Rockbridge Investment Management LCC increased its position in shares of Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after purchasing an additional 27 shares during the last quarter. Midwest Professional Planners LTD. raised its holdings in shares of Alphabet by 1.2% in the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider's stock valued at $680,000 after purchasing an additional 29 shares in the last quarter. Symmetry Partners LLC lifted its position in shares of 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 last quarter. Finally, Private Wealth Management Group LLC lifted its position in shares of Alphabet by 1.2% during the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider's stock worth $730,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 600,547 shares of company stock worth $16,255,540. Insiders own 11.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOOGL shares. Barclays reiterated an "overweight" rating and set a $425.00 target price (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. China Renaissance upped their price objective on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Citizens Jmp reiterated a "market outperform" rating and issued a $515.00 price objective on shares of Alphabet in a report on Wednesday, July 22nd. Wedbush restated an "outperform" rating and set a $445.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Finally, President Capital upped their price target on Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $419.86.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Stock Down 1.0%

Alphabet stock opened at $354.30 on Friday. The company has a market capitalization of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 1.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a fifty-two week low of $196.60 and a fifty-two week high of $408.61. The stock has a 50-day simple moving average of $355.68 and a 200-day simple moving average of $340.41.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Equities research analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is presently 4.42%.

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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