Union Savings Bank Acquires Shares of 14,933 Alphabet Inc. $GOOGL

Key Points

• Union Savings Bank opened a new position in Alphabet, buying 14,933 shares valued at about $4.67 million. The stake now represents roughly 2.0% of its portfolio and is its 9th largest holding.
• Alphabet’s latest quarterly results showed strong performance, with EPS of $5.11 versus expectations of $2.64 and revenue of $109.9 billion topping estimates. The company also increased its quarterly dividend to $0.22 per share from $0.21.
• Wall Street remains broadly bullish on GOOGL, with several firms raising price targets and the stock carrying an average Moderate Buy rating and $413.13 consensus target. However, shares were down about 5% amid concerns over AI leadership departures and execution risks at Waymo.

Union Savings Bank bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,933 shares of the information services provider's stock, valued at approximately $4,674,000. Alphabet comprises about 2.0% of Union Savings Bank's investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds also recently made changes to their positions in the business. PMV Capital Advisers LLC purchased a new stake in Alphabet during the fourth quarter worth about $38,000. IFC & Insurance Marketing Inc. purchased a new position in Alphabet in the fourth quarter valued at about $38,000. Bard Associates Inc. purchased a new position in Alphabet in the fourth quarter valued at about $52,000. Kentucky Trust Co grew its position in shares of Alphabet by 142.9% during the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after acquiring an additional 100 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOGL shares. Daiwa Securities Group upped their price objective on Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. KeyCorp reissued an "overweight" rating and issued a $425.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Truist Financial set a $430.00 price target on Alphabet and gave the company a "buy" rating in a research report on Friday, May 29th. Needham & Company LLC reiterated a "buy" rating and set a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group increased their price target on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $413.13.

Alphabet Stock Down 5.0%

GOOGL stock opened at $349.68 on Tuesday. The stock has a 50-day simple moving average of $367.66 and a two-hundred day simple moving average of $332.31. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The firm has a market capitalization of $4.24 trillion, a PE ratio of 26.67, a PEG ratio of 1.57 and a beta of 1.23. 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 quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. 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 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet and DeepMind announced a new AI research partnership with film studio A24, including about $75 million of investment, showing continued efforts to commercialize AI in creative tools. Google DeepMind signs AI research deal with film studio A24
• Positive Sentiment: Some analysts remain constructive on Alphabet’s AI spending, arguing that its cloud growth and AI investments could still be monetized over time. Morgan Stanley sees monetization potential in Google AI spending
• Neutral Sentiment: Alphabet’s cloud business continues to grow quickly and remains a key long-term driver, but heavy AI spending is also increasing near-term cost concerns. Is Alphabet the Best "Magnificent Seven" AI Stock?
• Negative Sentiment: Alphabet stock is falling more than the broader market as investors worry about a high-profile AI talent exodus from Google DeepMind and Gemini leadership. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Reports that Google DeepMind scientist John Jumper left for Anthropic added to fears that Alphabet is losing key AI researchers to competitors. Alphabet Is Now Cheaper Than What Berkshire Paid
• Negative Sentiment: Waymo’s recall of 3,871 robotaxis after a software glitch is another reminder that Alphabet’s autonomy business still faces execution risk. Waymo Just Recalled 3,800 Robotaxis. Is Google's Self-Driving Dream Hitting a Wall?

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 8,993 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director directly owned 2,531 shares of the company's stock, valued at $995,341.06. This represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 160,516 shares of company stock worth $7,344,604. 11.61% of the stock is owned by corporate insiders.

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.

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