Turtle Creek Wealth Advisors LLC Raises Stake in Alphabet Inc. $GOOGL

Key Points

• Turtle Creek Wealth Advisors increased its Alphabet stake by 11.7% in the first quarter, buying 9,581 more shares and bringing its holdings to 91,384 shares worth about $26.3 million.
• Several analysts turned more bullish on Alphabet, with firms like BMO Capital Markets, Daiwa, and Cantor Fitzgerald raising price targets and maintaining buy-equivalent ratings. The stock currently carries a Moderate Buy consensus with an average price target of $413.92.
• Alphabet reported strong quarterly results, beating earnings and revenue estimates, while also boosting its quarterly dividend to $0.22 per share. The company remains a favored AI and cloud beneficiary, though insider selling and some regulatory headlines remain watch points.

Turtle Creek Wealth Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 91,384 shares of the information services provider's stock after purchasing an additional 9,581 shares during the period. Alphabet accounts for about 2.0% of Turtle Creek Wealth Advisors LLC's portfolio, making the stock its 6th largest position. Turtle Creek Wealth Advisors LLC's holdings in Alphabet were worth $26,278,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. CIBC Bancorp USA Inc. bought a new position in Alphabet in the third quarter worth about $416,217,000. NewEdge Wealth LLC boosted its holdings in shares of Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock valued at $277,696,000 after buying an additional 93,293 shares in the last quarter. World Investment Advisors boosted its holdings in shares of Alphabet by 9.2% in the 4th quarter. World Investment Advisors now owns 274,761 shares of the information services provider's stock valued at $86,000,000 after buying an additional 23,107 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in shares of Alphabet in the 4th quarter worth approximately $28,902,000. Finally, Berkshire Hathaway Inc purchased a new position in shares of Alphabet in the 3rd quarter worth approximately $4,338,397,000. Institutional investors own 40.03% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: KeyCorp raised its price target on Alphabet to $445 from $425 and kept an overweight rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Multiple upbeat articles highlighted Alphabet as a leading AI and cloud beneficiary, with commentary pointing to strong distribution through Search, Android, YouTube, Google Cloud, and chips as reasons it could monetize AI better than peers.
• Positive Sentiment: New coverage argued Alphabet looks undervalued after a big run over the past year, while other pieces said the company remains one of the most attractive megacap tech names on a risk/reward basis.
• Positive Sentiment: Zacks and other market commentators continued to include GOOGL among cloud and internet stocks positioned to benefit from AI-driven data center spending and digital demand growth.
• Positive Sentiment: Business and tech commentary also pointed to product and platform strengths, including Google Search setting records during the World Cup and Waymo planning more driverless-car expansion, which support the long-term growth narrative.
• Neutral Sentiment: Alphabet said it will begin disclosing which ads are generated with AI, a transparency move that may help trust and compliance but is unlikely to materially change near-term earnings.
• Neutral Sentiment: Britain moved to regulate Google as a critical cloud supplier to protect financial stability; the change adds oversight, but it also underscores the importance of Google Cloud rather than signaling a fundamental business setback.
• Neutral Sentiment: Reuters reported that Google is appealing an Indian ads-related trademark ruling, a legal issue that could create some noise but does not yet appear to be a major stock-moving event.
• Neutral Sentiment: Recent short-interest data was effectively flat at zero shares reported, offering little actionable signal for traders.
• Negative Sentiment: One Reuters-linked report said Google and OpenAI provided AI services to Singapore-based subsidiaries of Chinese groups on the Pentagon blacklist, which could raise regulatory scrutiny and geopolitical concerns.
• Negative Sentiment: Technical commentary noted Alphabet is testing a key resistance zone after a recovery, suggesting the stock may need a fresh catalyst to extend its move higher.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Daiwa Securities Group lifted their price target on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Cantor Fitzgerald upped their price target on Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. China Renaissance increased their price objective on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. reissued a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $413.92.

Insider Transactions at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares of the company's stock, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 8,998 shares of the business's 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 sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock worth $8,020,511 over the last 90 days. Insiders own 11.61% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOGL traded down $1.71 during trading hours on Friday, hitting $357.18. 18,122,822 shares of the company were exchanged, compared to its average volume of 32,870,564. The stock has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.53 and a beta of 1.24. Alphabet Inc. has a 52-week low of $176.48 and a 52-week 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 company's 50 day moving average price is $372.61 and its 200-day moving average price is $336.44.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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 business 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 forecast 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. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

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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