Sun Financial Inc Acquires New Shares in Alphabet Inc. $GOOGL

Key Points

• Sun Financial Inc. disclosed a new fourth-quarter stake in Alphabet, buying 11,042 shares valued at about $3.46 million. Alphabet now makes up roughly 1.9% of Sun Financial’s portfolio and is its 11th-largest holding.
• Alphabet continues to draw strong institutional and analyst support, with multiple firms raising price targets and the consensus rating remaining Moderate Buy. Hedge funds and other institutional investors now own about 40.03% of the stock.
• The company reported better-than-expected Q1 earnings, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion. Alphabet also raised its quarterly dividend to $0.22 per share, while investors are watching AI growth, capital spending, and antitrust and Waymo-related risks.

Sun Financial Inc acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,042 shares of the information services provider's stock, valued at approximately $3,456,000. Alphabet comprises about 1.9% of Sun Financial Inc's holdings, making the stock its 11th largest holding.

Several other institutional investors also recently modified their holdings of the business. KPP Advisory Services LLC boosted its position in shares of Alphabet by 2.1% during the fourth quarter. KPP Advisory Services LLC now owns 21,525 shares of the information services provider's stock valued at $6,737,000 after buying an additional 437 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Alphabet by 14.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 40,060 shares of the information services provider's stock valued at $12,539,000 after buying an additional 5,033 shares during the last quarter. Cypress Point Wealth Management LLC boosted its position in shares of Alphabet by 4.5% during the fourth quarter. Cypress Point Wealth Management LLC now owns 2,331 shares of the information services provider's stock valued at $730,000 after buying an additional 100 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC boosted its position in shares of Alphabet by 1.0% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 5,869 shares of the information services provider's stock valued at $1,837,000 after buying an additional 59 shares during the last quarter. Finally, FSA Advisors Inc. boosted its position in shares of Alphabet by 3,134.4% during the fourth quarter. FSA Advisors Inc. now owns 104,179 shares of the information services provider's stock valued at $32,608,000 after buying an additional 100,958 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: Alphabet’s Q1 results were highlighted as one of the strongest among the Mag 7, with Google Cloud showing accelerating sales growth and broader AI momentum helping investor sentiment. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Google’s I/O announcements continued to reinforce Alphabet’s AI story, including new AI search experiences, agent tools, and upcoming AI glasses that suggest the company is expanding beyond traditional search. We tried Google's AI glasses and they're almost there
• Positive Sentiment: Analysts remain constructive on the stock, with multiple firms reiterating positive views and new AI ad formats seen as potentially boosting conversions and monetization in Search and Commerce. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Google unveiled a $15 billion Missouri data center investment, underscoring continued capital spending to support AI infrastructure and cloud demand. Google Unveils $15 Billion Missouri Data Center Investment
• Neutral Sentiment: Several articles discussed Google’s revamped AI-driven search experience and agent ecosystem, which are strategically important but still too early to measure their near-term financial impact. Google is pitching an AI agent ecosystem to consumers who may not buy it
• Negative Sentiment: Waymo temporarily suspended service in multiple cities after robotaxis drove into flooded roads, adding another safety and execution concern for Alphabet’s autonomous vehicle unit. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Google’s appeal of the antitrust ruling remains the biggest overhang, since a loss or forced remedies could eventually weigh on the company’s core search and advertising economics. Google appeals US court ruling on search monopoly

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. President Capital increased their price objective on Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Wedbush increased their price objective on Alphabet from $360.00 to $370.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. Finally, BNP Paribas Exane raised their target price on Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $412.65.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 955 shares of Alphabet stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at approximately $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 226,481 shares of company stock worth $27,422,061. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.2%

GOOGL stock opened at $382.97 on Friday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.64 trillion, a P/E ratio of 29.21, a PEG ratio of 1.66 and a beta of 1.26. The business's 50-day moving average price is $337.75 and its 200-day moving average price is $321.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. On average, equities research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

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

Alphabet Company 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.

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.