Turn8 Private Wealth Inc. Invests $413,000 in Alphabet Inc. $GOOG

Turn8 Private Wealth Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,438 shares of the information services provider’s stock, valued at approximately $413,000.

Several other hedge funds have also added to or reduced their stakes in GOOG. Kathmere Capital Management LLC boosted its holdings in Alphabet by 8.5% in the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after purchasing an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after buying an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Alphabet by 7.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after buying an additional 4,239 shares in the last quarter. World Investment Advisors boosted its stake in shares of Alphabet by 8.7% in the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock valued at $59,827,000 after buying an additional 15,280 shares during the period. Finally, Steginsky Capital LLC grew its position in Alphabet by 1.0% during the third quarter. Steginsky Capital LLC now owns 680,588 shares of the information services provider’s stock worth $165,757,000 after buying an additional 6,523 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $363.62 on Wednesday. The company’s 50 day moving average price is $369.28 and its two-hundred day moving average price is $334.35. The firm has a market capitalization of $4.41 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.56 and a beta of 1.23. Alphabet Inc. has a fifty-two week low of $173.88 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the prior year, the business earned $2.81 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This is a boost 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 is 6.71%.

Insider Activity

In other news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 160,465 shares of company stock valued at $8,020,511. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research note on Wednesday, May 20th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Monday, June 22nd. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, TD Cowen upped their price objective on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $376.19.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street is looking for another strong earnings report from Alphabet, with AI and Google Cloud expected to keep driving growth ahead of the company’s upcoming results. Alphabet Q2 Earnings Preview: What To Expect From Upcoming Report
• Positive Sentiment: Alphabet’s Google unit joined a €411 million funding round for Proxima Fusion, reinforcing its interest in frontier energy and other long-duration AI-adjacent opportunities. Google, RWE back Proxima Fusion in €411 million financing round
• Positive Sentiment: Coverage highlighting Alphabet as a potential “forever holding” for Berkshire-style investors may be helping reinforce the stock’s long-term AI and cash-flow appeal. Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Become Berkshire’s Next Forever Holding
• Neutral Sentiment: Alphabet announced that its Made by Google Pixel event will be held on August 12, which could build anticipation for new hardware updates but is not a major fundamental catalyst by itself. Google’s Pixel event is set for August 12
• Neutral Sentiment: Commentary comparing Alphabet with Palantir and Taiwan Semiconductor keeps Alphabet in the center of AI-stock debates, but these are mostly valuation and relative-performance discussions rather than direct business news. Palantir Vs. Google: Why Palantir is Surging in July and Should Investors Buy it Over Google?
• Negative Sentiment: TechCrunch reported that Google is expanding AI training to include more user-uploaded media, which could raise fresh privacy concerns and fuel scrutiny over how customer data is used. If you use Google, you’re training its AI. Here’s how to opt out.
• Negative Sentiment: Business Insider noted that Google’s status as a top tech employer is becoming less certain as AI-linked salary competition pushes some talent elsewhere, which could add pressure to retention. Google’s status as the dream tech job is changing. FOMO over AI salaries is only one reason why.

Alphabet Company 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.