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

Pathfinder Wealth Consulting Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,146 shares of the information services provider’s stock, valued at approximately $3,176,000. Alphabet accounts for 2.0% of Pathfinder Wealth Consulting Inc.’s holdings, making the stock its 11th largest holding.

Several other large investors have also modified their holdings of the business. TRB Advisors LP purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $9,390,000. Carroll Advisory Group LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $282,000. Buckhead Capital Management LLC boosted its position in shares of Alphabet by 5.6% during the fourth quarter. Buckhead Capital Management LLC now owns 34,528 shares of the information services provider’s stock valued at $10,807,000 after buying an additional 1,837 shares during the period. White Lighthouse Investment Management Inc. boosted its position in shares of Alphabet by 30.8% during the fourth quarter. White Lighthouse Investment Management Inc. now owns 10,122 shares of the information services provider’s stock valued at $3,168,000 after buying an additional 2,384 shares during the period. Finally, Planning Alternatives Ltd. ADV boosted its position in shares of Alphabet by 14.7% during the fourth quarter. Planning Alternatives Ltd. ADV now owns 4,162 shares of the information services provider’s stock valued at $1,303,000 after buying an additional 534 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Tigress Financial set a $415.00 target price on Alphabet and gave the company a “strong-buy” rating in a research report on Thursday, February 19th. Morgan Stanley boosted their target price on Alphabet from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. CICC Research boosted their target price on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. New Street Research boosted their target price on Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets boosted their price target on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,016 shares of company stock valued at $17,282,549 over the last ninety days. Company insiders own 11.61% of the company’s stock.

Alphabet Stock Down 1.0%

Shares of NASDAQ GOOGL opened at $368.53 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.58 and a beta of 1.23. The stock has a 50 day moving average price of $352.70 and a 200 day moving average price of $327.81. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Sell-side analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s payout ratio is presently 6.41%.

More Alphabet News

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 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.