Urban Wealth Management LLC Purchases New Holdings in Alphabet Inc. $GOOGL

Key Points

• Urban Wealth Management LLC initiated a new position in Alphabet, buying 16,796 shares worth about $5.26 million in the fourth quarter. Alphabet now ranks as the firm’s 3rd largest holding and makes up 4.9% of its portfolio.
• Alphabet continues to attract bullish analyst coverage, with multiple firms raising price targets and maintaining buy/outperform ratings. The stock’s consensus rating is Moderate Buy, with an average price target of $410.84.
• The company reported strong quarterly results, beating earnings and revenue estimates, and also raised its quarterly dividend from $0.21 to $0.22 per share. Recent news flow highlights ongoing AI momentum and investor interest in Alphabet’s growth prospects.

Urban Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,796 shares of the information services provider's stock, valued at approximately $5,257,000. Alphabet makes up 4.9% of Urban Wealth Management LLC's investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Alphabet in the third quarter valued at approximately $53,000. Kentucky Trust Co increased its holdings in shares of Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after purchasing an additional 100 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Alphabet in the third quarter valued at approximately $53,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Trending Headlines about Alphabet

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Roth Mkm reissued a "buy" rating on shares of Alphabet in a report on Thursday, April 30th. Citigroup reissued an "outperform" rating on shares of Alphabet in a report on Monday, May 4th. Truist Financial lifted their target price on shares of Alphabet from $385.00 to $415.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Daiwa Securities Group lifted their target price on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Dbs Bank lifted their target price on shares of Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. 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, the company currently has an average rating of "Moderate Buy" and an average price target of $410.84.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total transaction of $33,934.88. Following the transaction, the director directly owned 18,418 shares of the company's stock, valued at $5,580,469.82. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction on Monday, March 16th. The stock was sold at an average price of $303.41, for a total transaction of $318,580.50. Following the transaction, the director directly owned 4,631 shares in the company, valued at approximately $1,405,091.71. This represents a 18.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 157,953 shares of company stock valued at $47,767,818. 11.61% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $396.78 on Friday. The company has a fifty day moving average price of $329.30 and a two-hundred day moving average price of $317.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $403.70. The firm has a market capitalization of $4.81 trillion, a PE ratio of 30.27, a P/E/G ratio of 1.70 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for 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, analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared 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 is a positive change from Alphabet's previous quarterly dividend of $0.21. 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. Alphabet's payout ratio is 6.41%.

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.

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.