RMR Wealth Builders Raises Stake in Alphabet Inc. $GOOGL

Key Points

• RMR Wealth Builders increased its Alphabet stake by 9.7% in the fourth quarter, adding 1,709 shares and bringing its total holding to 19,359 shares worth about $6.06 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion versus $106.98 billion expected, reinforcing optimism around its business momentum.
• Wall Street sentiment remains upbeat: multiple firms raised price targets, and Alphabet also increased its quarterly dividend to $0.22 per share from $0.21.

RMR Wealth Builders boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,359 shares of the information services provider's stock after purchasing an additional 1,709 shares during the period. RMR Wealth Builders' holdings in Alphabet were worth $6,059,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. State Street Corp boosted its holdings in shares of 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 acquiring an additional 4,008,374 shares in the last quarter. Capital World Investors boosted its holdings in shares of Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Alphabet by 15.7% in the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock valued at $12,333,076,000 after acquiring an additional 6,874,381 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Alphabet by 2.3% in the third quarter. Invesco Ltd. now owns 45,186,112 shares of the information services provider's stock valued at $10,984,744,000 after acquiring an additional 1,034,292 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Loop Capital raised its price target on Alphabet to $490 and kept a buy rating, while Oppenheimer lifted its target to $445 with an outperform rating, reinforcing confidence in the company’s growth outlook. Loop Capital price target update Oppenheimer price target update
• Positive Sentiment: Several reports pointed to Alphabet’s AI momentum ahead of Google I/O, including growing customer adoption of Gemini Flash and expectations that the event will showcase more AI innovation. Business Insider on Gemini Flash adoption BofA note on Google I/O
• Positive Sentiment: Analysts also raised forward earnings estimates for Alphabet, suggesting continued confidence in monetization and profit growth. Alphabet earnings estimate update
• Positive Sentiment: Alphabet completed a record-breaking yen bond sale, giving it fresh funding capacity to expand AI infrastructure while diversifying its financing sources. Yen bond issuance article
• Neutral Sentiment: Commentary around Alphabet’s YouTube revenue, the company’s role in AI infrastructure, and Bill Ackman’s continued interest in mega-cap tech adds to the positive narrative, but these items are more supportive context than direct catalysts. YouTube revenue article Bill Ackman Mag 7 article
• Neutral Sentiment: Some coverage highlighted Alphabet’s valuation and the broader crowding in AI/mega-cap tech, which could make the stock more vulnerable if sentiment cools. Valuation rerating article UBS crowding warning
• Negative Sentiment: A report that Google may cap new Gmail accounts at 5GB of free storage could be seen as a consumer-unfriendly move and a possible engagement risk if implemented broadly. Gmail storage cap article
• Negative Sentiment: There was also some concern around competition and execution in AI and adjacent hardware, including comparison pieces on Alphabet versus Nvidia and broader AI rivalry. AI competition article

Alphabet Stock Performance

Shares of GOOGL opened at $396.78 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.81 trillion, a P/E ratio of 30.27, a PEG ratio of 1.72 and a beta of 1.26. The company has a 50-day moving average of $329.30 and a two-hundred day moving average of $317.27. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $403.70.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, research analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a report on Tuesday, April 28th. Truist Financial lifted their target price on shares of Alphabet from $385.00 to $415.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Argus lifted their target price on shares of Alphabet from $365.00 to $385.00 and gave the company a "buy" rating in a report on Friday, February 6th. Phillip Securities lifted their target price on shares of Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a report on Wednesday, April 15th. Finally, Citizens Jmp lifted their target price on shares of Alphabet from $385.00 to $515.00 and gave the company a "market outperform" rating in a report on Monday, May 4th. Two 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $410.84.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the completion of the transaction, the chief executive officer owned 2,818,524 shares in the company, valued at approximately $856,605,814.08. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $302.99, for a total transaction of $33,934.88. Following the transaction, the director owned 18,418 shares of the company's stock, valued at approximately $5,580,469.82. The trade was a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 157,953 shares of company stock valued at $47,767,818 in the last quarter. 11.61% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

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.