MLP3 LLC Takes $455,000 Position in Alphabet Inc. $GOOGL

Key Points

• MLP3 LLC disclosed a new fourth-quarter stake in Alphabet, buying 1,453 shares valued at about $455,000.
• Alphabet continues to attract major institutional interest, with large holders like Vanguard, State Street, Geode Capital, Norges Bank, and Capital World Investors adding or maintaining substantial positions.
• The company reported strong quarterly results, beating EPS and revenue estimates, and it recently increased its dividend to $0.22 per share quarterly. Analysts remain broadly positive, with a consensus Moderate Buy rating and target price around $413.13.

MLP3 LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,453 shares of the information services provider's stock, valued at approximately $455,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake 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 in the last quarter. State Street Corp increased its position in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC increased its position in Alphabet by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares during the last quarter. Norges Bank acquired a new position in Alphabet in the 4th quarter worth about $30,534,239,000. Finally, Capital World Investors increased its position in Alphabet by 1.5% in the 4th quarter. Capital World Investors now owns 53,881,908 shares of the information services provider's stock worth $16,865,158,000 after purchasing an additional 774,336 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway's Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Alphabet Price Performance

Shares of GOOGL stock opened at $369.35 on Tuesday. The stock has a 50 day moving average of $361.93 and a two-hundred day moving average of $330.66. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The company has a market capitalization of $4.48 trillion, a P/E ratio of 28.17, a P/E/G ratio of 1.54 and a beta of 1.23.

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 company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, equities analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is 6.71%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 8,993 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 191,966 shares of company stock worth $16,963,968. 11.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Cantor Fitzgerald upped their target price on Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Robert W. Baird upped their target price on Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. President Capital upped their target price on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $413.13.

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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