Corient Private Wealth LLC Purchases 6,554,842 Shares of Alphabet Inc. $GOOGL

Corient Private Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 127.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,677,886 shares of the information services provider’s stock after purchasing an additional 6,554,842 shares during the period. Alphabet makes up 1.9% of Corient Private Wealth LLC’s investment portfolio, making the stock its 9th largest holding. Corient Private Wealth LLC’s holdings in Alphabet were worth $3,655,178,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOGL. Symmetry Partners LLC lifted its stake in shares of Alphabet by 0.4% in the fourth 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 in the last quarter. Members Trust Co increased its position in shares of Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after acquiring an additional 31 shares in the last quarter. Altfest L J & Co. Inc. increased its position in shares of Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after acquiring an additional 31 shares in the last quarter. Insight 2811 Inc. raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after acquiring an additional 32 shares during the last quarter. Finally, LJI Wealth Management LLC raised its holdings in shares of Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock worth $2,274,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $368.48 on Friday. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The company’s 50 day moving average price is $366.01 and its two-hundred day moving average price is $331.69. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.46 trillion, a P/E ratio of 28.11, a P/E/G ratio of 1.56 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. The company 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%. On average, equities analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed 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 an increase 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 of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. Needham & Company LLC reiterated a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Piper Sandler reissued an “overweight” rating and issued a $445.00 price objective (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Citigroup restated an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Phillip Securities lifted their target price on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a research report on Wednesday, April 15th. Finally, Stifel Nicolaus set a $420.00 price target on Alphabet and gave the stock a “buy” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $413.13.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the sale, the director directly owned 18,721 shares in the company, valued at $7,132,701. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 160,516 shares of company stock worth $7,344,604. Company insiders own 11.61% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story got another boost after reports highlighted strong earnings momentum and a rapidly expanding Google Cloud backlog, reinforcing the view that business demand remains healthy. Alphabet Just Beat Earnings by 94% and Doubled Its Cloud Backlog to $460 Billion
• Positive Sentiment: Berkshire Hathaway disclosed that it nearly tripled its Alphabet stake, a notable vote of confidence from a major value investor that may support sentiment. Warren Buffett Just Tripled Down on the Stock Bill Ackman Is Selling
• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand AI usage, adding another large enterprise customer to Alphabet’s cloud growth narrative. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google unveiled new AI-related plans, including an “AI Control Roadmap” to address rogue AI agents, underscoring continued investment and leadership in AI infrastructure and safety. Google Devises Battle Plan to Combat Rogue AI Agents
• Neutral Sentiment: Google’s AI talent war remains a focus after Noam Shazeer, a co-lead on Gemini, reportedly left for OpenAI, which may raise questions about retention but does not change the core business overnight. Google’s Gemini co-lead Noam Shazeer to join OpenAI
• Negative Sentiment: Waymo issued a recall of about 3,900 robotaxis after software issues caused vehicles to enter highway construction zones, adding regulatory and execution risk to Alphabet’s self-driving unit. Waymo to recall over 3,800 robotaxis over risk of entering closed construction zones
• Negative Sentiment: A director sold a meaningful block of shares, which can modestly weigh on sentiment even though insider sales are not always a bearish signal. SEC filing for John L. Hennessy sale

Alphabet 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.