Linden Rose Investment LLC Takes $12.56 Million Position in Alphabet Inc. $GOOGL

Linden Rose Investment LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 40,121 shares of the information services provider’s stock, valued at approximately $12,558,000. Alphabet comprises approximately 10.4% of Linden Rose Investment LLC’s investment portfolio, making the stock its 4th biggest holding.

Other hedge funds have also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new position in Alphabet in the 3rd quarter worth approximately $416,217,000. NewEdge Wealth LLC increased its holdings in Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock worth $277,696,000 after buying an additional 93,293 shares during the period. Sovran Advisors LLC increased its holdings in Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock worth $5,401,000 after buying an additional 4,241 shares during the period. Belpointe Asset Management LLC increased its holdings in Alphabet by 5.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider’s stock worth $17,652,000 after buying an additional 3,740 shares during the period. Finally, Private Advisory Group LLC increased its holdings in Alphabet by 12.2% in the 4th quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock worth $7,736,000 after buying an additional 2,678 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 193,016 shares of company stock worth $17,282,549. Insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOGL shares. Oppenheimer increased their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. New Street Research raised their price objective on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group raised their price objective on shares of Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $445.00 price objective (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, May 20th. Two equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $413.13.

Alphabet Trading Down 1.4%

Shares of NASDAQ:GOOGL opened at $363.31 on Tuesday. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The firm has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business’s 50 day moving average price is $354.35 and its 200-day moving average price is $328.67.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, equities research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s payout ratio is 6.41%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s long-term AI opportunity remains a major bullish theme, with analysts arguing the company’s heavy investment could support future revenue growth and strengthen its competitive position in search, cloud, and AI. Alphabet: CapEx Pressure Is Real, But The Long-Term AI Opportunity Is Bigger
• Positive Sentiment: Alphabet continues to benefit from broader AI enthusiasm, including reports that Apple is turning to Google for help with its AI overhaul and that Google’s cloud and AI capabilities are being tied to major customer wins and partnerships. Apple tries again on AI, turns to Google for help
• Positive Sentiment: Waymo remains a strategic asset for Alphabet, with new robotaxi-related developments highlighting the unit’s leadership in autonomous driving and potential to unlock long-term value. Uber, Wayve and Waymo are headed towards a robotaxi showdown in London
• Neutral Sentiment: Alphabet is drawing investor attention after its latest earnings results showed strong quarterly performance, including earnings and revenue that beat expectations, which helps support the stock’s long-term valuation. Alphabet Inc. (GOOGL) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Alphabet’s dividend and other capital-return details are also getting attention, but these are unlikely to be the main driver of the stock’s move today. Google to pay dividends next week; Here’s how much 100 GOOGL shares will earn
• Negative Sentiment: Shares are sliding because investors appear worried that Alphabet’s expanding AI spending could pressure margins and require more capital than expected before those investments pay off. What’s Going On With Alphabet Stock?
• Negative Sentiment: Recent market-wide volatility has also weighed on megacap tech stocks, adding to the weakness in Alphabet despite the company’s long-term AI story. Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade

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.