1,868 Shares in Alphabet Inc. $GOOGL Purchased by E6 Portfolios LLC

E6 Portfolios LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,868 shares of the information services provider’s stock, valued at approximately $585,000. Alphabet makes up approximately 0.7% of E6 Portfolios LLC’s holdings, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in shares of Alphabet in the 3rd quarter valued at about $416,217,000. NewEdge Wealth LLC increased its stake in Alphabet by 11.8% during the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock worth $277,696,000 after purchasing an additional 93,293 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new stake in Alphabet during the 4th quarter worth approximately $28,902,000. Private Advisory Group LLC increased its stake in Alphabet by 12.2% during the 4th quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock worth $7,736,000 after purchasing an additional 2,678 shares in the last quarter. Finally, Berkshire Hathaway Inc bought a new stake in Alphabet during the 3rd quarter worth approximately $4,338,397,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. HSBC reissued a “buy” rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. BMO Capital Markets increased their target price on Alphabet from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Cantor Fitzgerald increased their target price on Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Robert W. Baird increased their target price on Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, New Street Research increased their target price on Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $413.13.

Alphabet Stock Performance

NASDAQ GOOGL opened at $359.68 on Monday. The company has a market cap of $4.36 trillion, a PE ratio of 27.44, a PEG ratio of 1.54 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The stock has a 50 day moving average of $360.45 and a 200-day moving average of $330.34.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities research analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal 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 issued 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 is Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 191,966 shares of company stock worth $16,963,968 in the last quarter. 11.61% of the stock is owned by company insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

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.