Legacy Edge Advisors LLC Takes $5.10 Million Position in Alphabet Inc. $GOOGL

Key Points

• Legacy Edge Advisors LLC initiated a new position in Alphabet, buying 16,288 shares worth about $5.1 million in the fourth quarter.
• Alphabet continues to draw significant institutional interest, with firms like Berkshire Hathaway, Vanguard, and other major investors adding to or building large stakes in the company.
• The stock remains supported by strong earnings and AI optimism: Alphabet beat quarterly EPS and revenue estimates, raised its dividend, and Wall Street largely remains bullish with a Moderate Buy consensus rating.

Legacy Edge Advisors LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,288 shares of the information services provider's stock, valued at approximately $5,098,000.

Several other large investors have also recently made changes to their positions in the business. Berkshire Hathaway Inc purchased a new position in Alphabet in the 3rd quarter worth approximately $4,338,397,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the last quarter. Capital World Investors raised its holdings in Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares during the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 15.7% in the 3rd quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock worth $12,333,076,000 after acquiring an additional 6,874,381 shares during the last quarter. Finally, Mizuho Markets Cayman LP raised its holdings in Alphabet by 23,402.1% in the 3rd quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider's stock worth $1,487,419,000 after acquiring an additional 6,092,513 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google I/O announcements reinforced the company’s AI monetization story, with new ad formats, shopping tools, and Gemini-based products that could lift search and commerce revenue. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Several analysts reiterated bullish or supportive views on Alphabet after I/O, including price-target increases that point to more upside if AI rollout gains traction. Analyst rating updates on Alphabet
• Positive Sentiment: Google’s broader AI push remains a tailwind for Alphabet, with articles highlighting strong cloud/AI demand and growing usage across Gemini and AI Overviews. 4 Cloud Computing Stocks Benefiting From AI-Driven Demand
• Positive Sentiment: Alphabet continues to win favorable Wall Street coverage, including multiple buy ratings and raised targets, which can help support the stock near recent highs. Alphabet's Googlebook Brings Gemini AI to PC Hardware
• Neutral Sentiment: Alphabet’s quarterly dividend increase and continued strong earnings remain supportive, but these were already known catalysts rather than a fresh surprise for traders. Alphabet stock performance and company details
• Neutral Sentiment: There was also a routine insider sale by a director, which may get attention but does not by itself change the company’s long-term outlook. SEC filing
• Neutral Sentiment: Alphabet’s new AI search experience has sparked debate about the future of web traffic and search behavior, but this is more of a strategic overhang than an immediate earnings issue. Google is going to ruin the internet
• Negative Sentiment: Waymo suspended freeway robotaxi rides and paused Atlanta operations while it fixes software problems in construction zones and flooded roads, raising short-term safety and execution concerns for Alphabet’s self-driving unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Additional reports said Waymo paused service in multiple cities after robotaxis struggled in heavy rain and construction zones, reinforcing concerns about rollout reliability. Waymo halts freeway rides after robotaxis struggle in construction zones
• Negative Sentiment: Regulatory and public-safety scrutiny is also building around Google’s platforms, including EU complaints over financial scams and UK child-safety criticism on YouTube. Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 955 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the completion of the transaction, the chief accounting officer owned 9,918 shares of the company's stock, valued at approximately $2,955,564. This represents a 8.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,481 shares of company stock worth $27,422,061 in the last three months. Corporate insiders own 11.61% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages 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. DA Davidson boosted their price objective on shares of Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Tigress Financial set a $415.00 price objective on shares of Alphabet and gave the stock a "strong-buy" rating in a report on Thursday, February 19th. Wells Fargo & Company restated an "overweight" rating and issued a $435.00 price objective (up from $427.00) on shares of Alphabet in a report on Wednesday. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $412.65.

Alphabet Trading Down 0.3%

Shares of Alphabet stock opened at $387.66 on Friday. The company has a market capitalization of $4.70 trillion, a P/E ratio of 29.57, a P/E/G ratio of 1.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a fifty day moving average of $336.26 and a 200 day moving average of $320.82. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

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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