Maxele Advisors LLC Acquires Shares of 2,590 Alphabet Inc. $GOOGL

Key Points

• Maxele Advisors disclosed a new fourth-quarter stake in Alphabet, buying 2,590 shares valued at about $811,000.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $109.9 billion topping expectations.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain generally bullish with a consensus rating of Moderate Buy.

Maxele Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,590 shares of the information services provider's stock, valued at approximately $811,000.

A number of other large investors also recently modified their holdings of GOOGL. CIBC Bancorp USA Inc. purchased a new position in shares of Alphabet in the 3rd quarter valued at $416,217,000. NewEdge Wealth LLC grew its position in shares of Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock valued at $277,696,000 after buying an additional 93,293 shares during the last quarter. Sovran Advisors LLC grew its position in shares of Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock valued at $5,401,000 after buying an additional 4,241 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Alphabet by 5.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock valued at $17,652,000 after buying an additional 3,740 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Alphabet by 3.8% in the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock valued at $405,131,000 after buying an additional 60,831 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 3.9%

GOOGL stock opened at $361.85 on Wednesday. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The stock has a market capitalization of $4.38 trillion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23. 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 $347.16 and a 200-day moving average of $325.75.

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

Alphabet Increases Dividend

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

Insider Buying and Selling

In related news, insider John Kent Walker sold 8,993 shares of the firm's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 617 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company's stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 193,016 shares of company stock worth $17,282,549. 11.61% of the stock is currently owned by insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s $10 billion investment signals strong outside confidence in Alphabet’s AI and cloud strategy. Alphabet plans to raise $80 billion for AI goals, Berkshire to invest $10 billion
• Positive Sentiment: Analysts and commentators continue to argue that Alphabet remains a high-margin cash generator with attractive long-term earnings power. Google: AI Skeptics Proven Wrong as Business Booms
• Neutral Sentiment: Coverage of Alphabet’s expanding AI coding, hardware, and device strategy highlights broader growth opportunities, but it is not the main driver of today’s move. Microsoft and Google are late to AI coding, but 'absolutely critical' they compete for growth
• Negative Sentiment: The proposed $80 billion stock sale raises dilution concerns and underscores how expensive Alphabet’s AI race has become. Exclusive: EU cloud rules to curb Amazon, Google access to strategic tenders, draft document shows
• Negative Sentiment: Reports that EU cloud rules could restrict Google’s access to strategic government tenders add a regulatory overhang for the cloud business. Alphabet to raise $80 billion in equity capital for AI spending

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Tigress Financial set a $415.00 target price on shares of Alphabet and gave the company a "strong-buy" rating in a research report on Thursday, February 19th. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Friday, May 29th. China Renaissance increased their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. New Street Research increased their target price on shares of Alphabet from $380.00 to $450.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Wolfe Research dropped their target price on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Two research 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $413.04.

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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