Millennium Capital Advisors LLC Makes New Investment in Alphabet Inc. $GOOGL

Key Points

• Millennium Capital Advisors opened a new position in Alphabet in the fourth quarter, buying 12,899 shares valued at about $4.0 million. Alphabet now ranks as the firm’s 8th largest holding.
• Alphabet reported better-than-expected quarterly results, with EPS of $5.11 versus analysts’ estimate of $2.64 and revenue of $109.9 billion versus the expected $106.98 billion. Analysts still expect strong full-year earnings growth.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly positive with a consensus rating of Moderate Buy and a price target of $413.04.

Millennium Capital Advisors LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,899 shares of the information services provider's stock, valued at approximately $4,038,000. Alphabet comprises about 2.4% of Millennium Capital Advisors LLC's holdings, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Kentucky Trust Co grew its stake in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after acquiring an additional 100 shares during the period. iSAM Funds UK Ltd acquired a new stake in Alphabet in the 3rd quarter valued at $53,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Alphabet in the 3rd quarter valued at $53,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Alphabet in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $372.19 on Friday. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The company has a market cap of $4.51 trillion, a PE ratio of 28.39, a P/E/G ratio of 1.58 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 business has a 50-day simple moving average of $351.15 and a 200-day simple moving average of $327.52.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, equities research analysts forecast that Alphabet Inc. will post 14.28 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared 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. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOGL. Citizens Jmp reissued a "market outperform" rating and issued a $515.00 price target on shares of Alphabet in a research note on Wednesday, May 20th. New Street Research lifted their target price on shares of Alphabet from $380.00 to $450.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. The Goldman Sachs Group lifted their price target on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. Finally, DZ Bank reiterated a "buy" rating on shares of Alphabet in a report on Monday, February 16th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $413.04.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last three months. 11.61% of the stock is owned by corporate insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet raised its capital plan to $84.75 billion to fund AI infrastructure and cloud capacity, signaling it expects strong demand for compute and is willing to invest heavily to protect and grow its long-term AI position. Reuters article
• Positive Sentiment: Apple reportedly tapped Google Cloud to help power a revamped Siri, which could add a high-profile customer for Alphabet’s cloud business and reinforce its AI infrastructure monetization story. PYMNTS article
• Positive Sentiment: Lovable expanded its multi-year Google Cloud relationship, another sign that Google Cloud is winning AI-related usage and customer growth. TechCrunch article
• Positive Sentiment: Needham reiterated a buy rating and a $450 price target, reflecting continued analyst confidence in Alphabet’s cloud and AI growth potential. Benzinga article
• Neutral Sentiment: Several prominent investors, including Berkshire Hathaway and ARK, were reported as buying Alphabet shares, which supports sentiment but does not change fundamentals on its own. Barron's article
• Neutral Sentiment: Alphabet also received a softer-than-feared UK antitrust ruling that requires new conduct changes and lets publishers opt out of AI training, which may limit some data use but reduces the risk of a harsher regulatory outcome. Reuters article
• Negative Sentiment: Reports that Google is quietly laying off staff in Cloud, including parts of its cybersecurity team, may weigh on sentiment by raising questions about cost discipline and internal restructuring. Business Insider article

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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