Evansbrook LLC Buys New Position in Alphabet Inc. $GOOGL

Evansbrook LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,494 shares of the information services provider’s stock, valued at approximately $2,971,000. Alphabet makes up about 2.0% of Evansbrook LLC’s portfolio, making the stock its 5th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares during the period. Finally, United Bank grew its position in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after purchasing an additional 3,120 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a report on Wednesday, June 3rd. Canaccord Genuity Group increased their target price on shares of Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. President Capital lifted their target price on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Rothschild & Co Redburn boosted their price target on Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group upped their price target on Alphabet from $400.00 to $450.00 and gave the company 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 issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director directly owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,516 shares of company stock worth $7,344,604 over the last ninety days. Corporate insiders own 11.61% of the company’s stock.

Alphabet News Roundup

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 Stock Performance

Alphabet stock opened at $368.48 on Friday. The firm has a market capitalization 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. The stock has a fifty day moving average price of $366.01 and a two-hundred day moving average price of $331.69. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. 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:GOOGL) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. As a group, analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

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

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.