River Wealth Advisors LLC Purchases 2,600 Shares of Alphabet Inc. $GOOGL

River Wealth Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the second quarter, Holdings Channel.com reports. The firm owned 104,472 shares of the information services provider’s stock after purchasing an additional 2,600 shares during the period. Alphabet comprises approximately 3.1% of River Wealth Advisors LLC’s investment portfolio, making the stock its 6th largest position. River Wealth Advisors LLC’s holdings in Alphabet were worth $37,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EMC Capital Management acquired a new position in shares of Alphabet in the 4th quarter valued at about $33,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $32,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $52,000. Finally, Uniplan Investment Counsel Inc. purchased a new position in Alphabet during the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. KeyCorp upped their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Pivotal Research reissued a “buy” rating and set a $475.00 target price (up from $470.00) on shares of Alphabet in a research note on Thursday, July 23rd. President Capital boosted their price target on shares of Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Finally, Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $420.19.

Alphabet Stock Performance

Shares of GOOGL opened at $344.82 on Monday. The company’s fifty day moving average is $352.00 and its 200-day moving average is $341.35. Alphabet Inc. has a 12 month low of $201.30 and a 12 month high of $408.61. The firm has a market cap of $4.22 trillion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Equities analysts expect that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the company’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 completion of the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This represents a 41.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,945 shares of company stock valued at $12,382,714 in the last three months. 11.61% of the stock is currently owned by corporate insiders.

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.