RKL Wealth Management LLC Sells 4,043 Shares of Alphabet Inc. $GOOGL

RKL Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 74,571 shares of the information services provider’s stock after selling 4,043 shares during the quarter. Alphabet makes up approximately 1.9% of RKL Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position. RKL Wealth Management LLC’s holdings in Alphabet were worth $21,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Alphabet in the fourth quarter worth about $30,534,239,000. Berkshire Hathaway Inc acquired a new position in Alphabet during the 3rd quarter valued at about $4,338,397,000. Cardano Risk Management B.V. boosted its stake in shares of Alphabet by 855.3% in the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after purchasing an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after buying an additional 11,605,785 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,465 shares of company stock worth $8,020,511 in the last ninety days. 11.61% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $358.89 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $4.35 trillion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.55 and a beta of 1.24. The business has a 50 day simple moving average of $372.47 and a 200 day simple moving average of $336.30. Alphabet Inc. has a 52-week low of $174.38 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates 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 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. 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 presently 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
• Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
• Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
• Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
• Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
• Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
• Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
• Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOOGL shares. Robert W. Baird boosted their price target on shares of Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up from $375.00) on shares of Alphabet in a research note on Tuesday, June 30th. China Renaissance upped their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Needham & Company LLC reissued a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Finally, CICC Research raised their price target on Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $413.54.

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.