Resonant Capital Advisors LLC Has $13.82 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Resonant Capital Advisors increased its Alphabet stake by 13.9% in the first quarter, ending with 48,066 shares valued at about $13.82 million.
• Alphabet continues to attract broad institutional support, with major holders like Vanguard, State Street, and Geode also adding shares; institutions and hedge funds now own 40.03% of the company.
• Wall Street remains constructive on GOOGL, with several analysts raising price targets and the stock carrying a Moderate Buy consensus; Alphabet also posted a strong recent quarter, beating EPS and revenue expectations.

Resonant Capital Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,066 shares of the information services provider's stock after acquiring an additional 5,881 shares during the quarter. Resonant Capital Advisors LLC's holdings in Alphabet were worth $13,822,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Alphabet by 2.4% during 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 purchasing an additional 12,531,695 shares in the last quarter. State Street Corp lifted its stake in Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after buying an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after buying an additional 2,666,676 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE boosted its holdings in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after buying an additional 3,218,852 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,415 shares of company stock worth $7,672,279 over the last three months. Company insiders own 11.61% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GOOGL shares. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a research report on Thursday, April 30th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price objective (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Oppenheimer upped their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Canaccord Genuity Group increased their target price on Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Citigroup reissued an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $413.73.

Alphabet Stock Performance

Shares of GOOGL stock opened at $370.92 on Thursday. Alphabet Inc. has a 12 month low of $180.48 and a 12 month high of $408.61. The company's fifty day simple moving average is $370.84 and its 200-day simple moving average is $337.62. The firm has a market cap of $4.49 trillion, a PE ratio of 28.29, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. 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 a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he initiated Berkshire Hathaway’s Alphabet investment, a high-profile endorsement that is helping sentiment around Alphabet (GOOGL). Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Multiple analyst previews say Alphabet’s AI momentum, cloud backlog, and earnings growth expectations could support another strong quarter, keeping investors upbeat ahead of results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
• Positive Sentiment: Zacks upgraded Alphabet to strong-buy, citing earnings growth expectations and attractive fundamentals relative to its valuation. Zacks upgrade to strong-buy
• Neutral Sentiment: Alphabet expanded its clean-energy commitments with its largest solar and battery storage purchase yet, which supports its long-term infrastructure strategy but is not an immediate earnings driver. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
• Neutral Sentiment: Alphabet also drew attention for a new collaboration with INVIDI Technologies to extend addressable advertising to set-top boxes, a potentially helpful ad-tech expansion but still early-stage. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager
• Negative Sentiment: The European Commission is preparing new fines against Google, renewing regulatory risk and adding pressure to Alphabet’s legal overhang. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google is also fighting antitrust scrutiny in Europe and Switzerland, including efforts to preserve a court ruling that overturned a $1.7 billion EU fine and a new Swiss probe over Android search defaults. Google urges EU top court to back ruling scrapping $1.7 billion antitrust fine
• Negative Sentiment: Separate reports raised concerns about Google’s AI search tools and a DeepMind researcher’s resignation over the company’s Pentagon work, both of which could add reputational risk. A DeepMind researcher resigned over its AI military deal

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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