Pathfinder Wealth Consulting Inc. Takes Position in Alphabet Inc. $GOOG

Key Points

• Pathfinder Wealth Consulting opened a new position in Alphabet, buying 2,946 shares in the fourth quarter worth about $924,000.
• Alphabet reported strong quarterly results, with EPS of $5.11 topping estimates and revenue of $109.9 billion, up 21.8% year over year.
• The company raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly bullish with a Buy consensus and an average price target of $378.50.

Pathfinder Wealth Consulting Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,946 shares of the information services provider's stock, valued at approximately $924,000.

A number of other hedge funds have also recently made changes to their positions in GOOG. Kathmere Capital Management LLC raised its position in shares of Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after purchasing an additional 2,341 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of Alphabet by 31.3% in the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider's stock valued at $86,345,000 after purchasing an additional 84,553 shares during the period. Baltimore Washington Financial Advisors Inc. raised its position in shares of Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock valued at $53,920,000 after purchasing an additional 2,009 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Alphabet by 7.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after purchasing an additional 4,239 shares during the period. Finally, LBP AM SA raised its position in shares of Alphabet by 11.0% in the third quarter. LBP AM SA now owns 431,349 shares of the information services provider's stock valued at $105,055,000 after purchasing an additional 42,639 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $372.58 on Tuesday. The company has a 50 day moving average of $344.61 and a 200 day moving average of $325.11. The stock has a market cap of $4.51 trillion, a P/E ratio of 28.42, a P/E/G ratio of 1.61 and a beta of 1.25. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. 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 (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.81 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares of the company's stock, valued at $995,341.06. The trade was a 29.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the business'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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,516 shares of company stock valued at $27,142,399 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a research report on Monday, February 16th. BMO Capital Markets reissued an "outperform" rating and issued a $400.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Oppenheimer boosted their price target on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Sanford C. Bernstein reissued a "market perform" rating and issued a $345.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $378.50.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s planned $10 billion investment in Alphabet adds a major vote of confidence and helps validate the company’s AI expansion strategy. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
• Positive Sentiment: Analyst commentary said Google is a clear beneficiary as AI search grows, supporting the view that Alphabet can defend and extend its core search franchise even as AI competition intensifies. Google Is the Clear Beneficiary,” Says Top Analyst as AI Search Takes Off
• Neutral Sentiment: Alphabet’s ties to high-profile private AI names like Anthropic and SpaceX could give investors additional indirect exposure ahead of possible future IPOs, though this is more of a longer-term optionality story. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs: What That Means For Investors
• Negative Sentiment: The planned $80 billion capital raise may weigh on sentiment because it implies substantial spending needs and potential dilution, even if it strengthens Alphabet’s AI capacity. Alphabet plans to raise $80 billion to pay for AI buildout
• Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, potentially limiting Google’s access to some government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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