Storen Legacy Partners LLC Buys Shares of 2,245 Alphabet Inc. $GOOGL

Storen Legacy Partners LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,245 shares of the information services provider’s stock, valued at approximately $703,000.

Several other hedge funds have also recently modified their holdings of the business. Worthington Financial Partners LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $1,599,000. Bayban bought a new position in Alphabet in the fourth quarter worth approximately $100,000. Taylor Securities Services Inc. bought a new position in Alphabet in the fourth quarter worth approximately $1,234,000. AG Campbell Advisory LLC bought a new position in Alphabet in the fourth quarter worth approximately $3,596,000. Finally, Pure Financial Advisors LLC lifted its holdings in Alphabet by 0.5% during the fourth quarter. Pure Financial Advisors LLC now owns 59,897 shares of the information services provider’s stock worth $18,748,000 after buying an additional 278 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being viewed as a major AI winner thanks to ongoing investment in AI infrastructure and data centers, which could support future cloud and AI revenue growth. Article Title
• Positive Sentiment: Reports that Berkshire Hathaway nearly tripled its Alphabet position may be seen as a strong vote of confidence from a major long-term investor. Article Title
• Positive Sentiment: Coverage emphasizing Alphabet’s strong earnings and expanding Google Cloud backlog supports the case for continued fundamental improvement. Article Title
• Neutral Sentiment: Alphabet’s stock is drawing increased investor attention and analyst commentary, but these are mostly sentiment-driven mentions rather than new company-specific catalysts. Article Title
• Negative Sentiment: Noam Shazeer, a top Google DeepMind/Gemini AI leader, is leaving for OpenAI, underscoring the competitive AI talent war. Article Title
• Negative Sentiment: John Jumper is also departing Google DeepMind for Anthropic, adding to concerns that Alphabet may be losing key AI researchers. Article Title
• Negative Sentiment: Waymo’s recall of nearly 3,900 robotaxis after construction-zone driving errors raises safety and regulatory concerns for Alphabet’s autonomous vehicle business. Article Title
• Negative Sentiment: The UK ordering Google to improve search-ranking transparency highlights continued regulatory scrutiny over its core search business. Article Title

Analysts Set New Price Targets

Several brokerages have issued reports on GOOGL. Wolfe Research dropped their target price on Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Mizuho boosted their price target on Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Loop Capital upped their price objective on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $413.13.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 160,516 shares of company stock worth $7,344,604 over the last 90 days. Insiders own 11.61% of the company’s stock.

Alphabet Stock Up 0.1%

NASDAQ:GOOGL opened at $368.48 on Monday. The company has a market cap of $4.46 trillion, a PE ratio of 28.11, a P/E/G ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $367.04 and its two-hundred day moving average is $332.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

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.