Petros Family Wealth LLC Has $1.65 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Petros Family Wealth LLC trimmed its Alphabet stake by 28.2% in the first quarter, selling 2,251 shares and leaving it with 5,729 shares worth about $1.65 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus the $2.64 consensus and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.
• Despite recent stock weakness, Wall Street sentiment remains positive: Alphabet has a Moderate Buy consensus, and several analysts recently lifted price targets into the $420–$450 range.

Petros Family Wealth LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,729 shares of the information services provider's stock after selling 2,251 shares during the quarter. Alphabet comprises 1.2% of Petros Family Wealth LLC's investment portfolio, making the stock its 24th biggest position. Petros Family Wealth LLC's holdings in Alphabet were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Midwest Capital Advisors LLC lifted its holdings in shares of Alphabet by 62.5% during the 1st quarter. Midwest Capital Advisors LLC now owns 554 shares of the information services provider's stock worth $159,000 after acquiring an additional 213 shares during the period. Capital Asset Advisory Services LLC increased its stake in Alphabet by 21.1% in the first quarter. Capital Asset Advisory Services LLC now owns 60,518 shares of the information services provider's stock valued at $17,403,000 after acquiring an additional 10,540 shares during the last quarter. Squire Investment Management Company LLC raised its position in Alphabet by 35.3% during the first quarter. Squire Investment Management Company LLC now owns 959 shares of the information services provider's stock valued at $276,000 after purchasing an additional 250 shares in the last quarter. Semus Wealth Partners LLC lifted its stake in Alphabet by 5.4% during the first quarter. Semus Wealth Partners LLC now owns 23,682 shares of the information services provider's stock worth $6,810,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Secured Retirement Advisors LLC lifted its stake in Alphabet by 3.2% during the first quarter. Secured Retirement Advisors LLC now owns 14,473 shares of the information services provider's stock worth $4,162,000 after purchasing an additional 445 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 0.8%

NASDAQ GOOGL opened at $358.89 on Friday. The stock has a market capitalization of $4.35 trillion, a P/E ratio of 27.38, a P/E/G ratio of 1.55 and a beta of 1.24. Alphabet Inc. has a one year low of $174.38 and a one year high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50 day simple moving average of $372.47 and a 200 day simple moving average of $336.30.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Research analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. Rothschild & Co Redburn upped their price objective on Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Bank of America increased their target price on shares of Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. HSBC reaffirmed a "buy" rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Canaccord Genuity Group raised their target price on shares of Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $393.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Two equities 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $413.54.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
• Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
• Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
• Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
• Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
• Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
• Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
• Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.

Insider Buying and Selling

In related news, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares of the company's stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,465 shares of company stock valued at $8,020,511 over the last 90 days. 11.61% of the stock is currently owned by company insiders.

Alphabet 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.