1,603,000 Shares in Alphabet Inc. $GOOGL Purchased by Scge Management L.P.

Scge Management L.P. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,603,000 shares of the information services provider’s stock, valued at approximately $501,739,000. Alphabet makes up 11.4% of Scge Management L.P.’s investment portfolio, making the stock its 2nd biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Symmetry Partners LLC grew its holdings in Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares during the period. Members Trust Co grew its holdings in Alphabet by 0.5% in the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after buying an additional 31 shares during the period. Altfest L J & Co. Inc. grew its holdings in Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after buying an additional 31 shares during the period. Insight 2811 Inc. grew its holdings in Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock valued at $978,000 after buying an additional 32 shares during the period. Finally, LJI Wealth Management LLC grew its holdings in Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after buying an additional 32 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank Of Canada set a $425.00 price target on Alphabet and gave the company an “outperform” rating in a report on Thursday, April 30th. Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Wells Fargo & Company restated an “overweight” rating and issued a $435.00 price target (up from $427.00) on shares of Alphabet in a report on Wednesday, May 20th. Finally, DZ Bank restated a “buy” rating on shares of Alphabet in a report on Monday, February 16th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.13.

Alphabet Stock Performance

Alphabet stock opened at $369.35 on Tuesday. The stock’s 50-day moving average is $361.93 and its 200-day moving average is $330.66. The company has a market cap of $4.48 trillion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.54 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. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61.

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

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 191,966 shares of company stock valued at $16,963,968 over the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

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.