Pathfinder Wealth Consulting Inc. Purchases Shares of 10,146 Alphabet Inc. $GOOGL

Pathfinder Wealth Consulting Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,146 shares of the information services provider’s stock, valued at approximately $3,176,000. Alphabet accounts for about 2.0% of Pathfinder Wealth Consulting Inc.’s portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Berkshire Hathaway Inc bought a new stake in Alphabet during the third quarter valued at about $4,338,397,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares during the period. Capital World Investors raised its holdings in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares during the period. Capital Research Global Investors raised its holdings in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock valued at $12,333,076,000 after acquiring an additional 6,874,381 shares during the period. Finally, Mizuho Markets Cayman LP raised its holdings in Alphabet by 23,402.1% during the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider’s stock valued at $1,487,419,000 after acquiring an additional 6,092,513 shares during the period. 40.03% of the stock is owned by institutional investors.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Alphabet Trading Down 1.0%

Shares of GOOGL stock opened at $368.53 on Friday. The stock’s 50-day moving average price is $352.70 and its 200-day moving average price is $327.81. 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 market capitalization of $4.47 trillion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Equities research analysts predict that Alphabet Inc. will post 14.29 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. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. 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%. Alphabet’s payout ratio is presently 6.41%.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last ninety days. 11.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Dbs Bank raised their price target on Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Thursday, April 30th. Phillip Securities lifted their target price on Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a report on Wednesday, April 15th. BNP Paribas Exane lifted their target price on Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $390.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $413.13.

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.