L2 Asset Management LLC Grows Stock Position in Alphabet Inc. $GOOG

L2 Asset Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,858 shares of the information services provider’s stock after buying an additional 1,953 shares during the quarter. Alphabet comprises 1.0% of L2 Asset Management LLC’s holdings, making the stock its 24th largest position. L2 Asset Management LLC’s holdings in Alphabet were worth $7,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet in the fourth quarter valued at about $38,000. Imprint Wealth LLC purchased a new stake in Alphabet in the third quarter valued at about $31,000. Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter valued at about $41,000. Towne Trust Company N.A raised its stake in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC purchased a new stake in Alphabet in the fourth quarter valued at about $45,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: HSBC announced a multi-year partnership with Alphabet’s Google Cloud to expand its AI capabilities, a fresh validation of Google Cloud’s enterprise momentum and a potentially meaningful revenue tailwind. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Alphabet rolled out Android 17 and expanded Gemini features across Pixel devices and Wear OS, highlighting continued product innovation and deeper integration of AI into its consumer ecosystem. Android 17 launches with new multitasking tools as Google expands Gemini features
• Positive Sentiment: Alphabet confirmed a $1.5 billion Alabama data center expansion, including community investment and infrastructure spending, signaling continued AI and cloud capacity buildout to support future demand. Google’s Samsung Talks Highlight TSMC Capacity Crunch
• Positive Sentiment: Google broadened Fitbit Air’s appeal by making it HSA and FSA eligible, which could improve adoption in digital health and wearables. Google Broadens Fitbit Air Appeal With HSA, FSA Eligibility
• Neutral Sentiment: Google also received positive media commentary around its AI strategy and enterprise adoption, but these were largely opinion pieces rather than new fundamental developments. Why GOOGL Stock May Have More Room to Run Even After a 100% Rally
• Neutral Sentiment: Alphabet’s AI and quantum research efforts continued to draw attention, but the impact on near-term earnings is unclear. Google’s 20x Quantum Leap Threatens Ethereum’s Code as ETH Price Drops
• Negative Sentiment: Some coverage warned that the AI boom may be getting too speculative, with Howard Marks cautioning that investors may be overestimating what they own in AI stocks. Howard Marks: Investing in AI Stocks Is ‘Closer to Speculating’ Than Analysis

Alphabet Trading Up 1.1%

Shares of NASDAQ:GOOG opened at $371.10 on Wednesday. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The stock has a market cap of $4.50 trillion, a price-to-earnings ratio of 28.31, 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. The business has a 50-day moving average price of $360.69 and a 200-day moving average price of $330.18.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned $2.81 earnings per share. Equities analysts predict that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. Pivotal Research restated a “buy” rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. TD Cowen raised their price objective on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Finally, Citigroup restated a “market outperform” rating on shares of Alphabet in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus target price of $376.78.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares in the company, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet 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 transaction, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,466 shares of company stock valued at $6,957,543 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.