7,376 Shares in Alphabet Inc. $GOOGL Purchased by Elevated Financial Group LLC

Elevated Financial Group LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,376 shares of the information services provider’s stock, valued at approximately $2,309,000. Alphabet makes up 0.8% of Elevated Financial Group LLC’s portfolio, making the stock its 21st biggest holding.

Other institutional investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new position in shares of Alphabet in the 3rd quarter worth about $416,217,000. Sovran Advisors LLC grew its position in Alphabet by 23.6% during the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock valued at $5,401,000 after purchasing an additional 4,241 shares during the last quarter. Wright Investors Service Inc. increased its stake in Alphabet by 21.2% during the 3rd quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider’s stock valued at $12,171,000 after purchasing an additional 8,746 shares in the last quarter. CIBC Asset Management Inc increased its stake in Alphabet by 3.8% during the 3rd quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider’s stock valued at $405,131,000 after purchasing an additional 60,831 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in Alphabet by 5.4% during the 3rd quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider’s stock valued at $17,652,000 after purchasing an additional 3,740 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $401.07 on Friday. The company has a 50 day moving average price of $327.43 and a 200-day moving average price of $316.71. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $403.70. The firm has a market capitalization of $4.86 trillion, a PE ratio of 30.59, a P/E/G ratio of 1.72 and a beta of 1.26. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. As a group, equities research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. 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 is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is presently 6.41%.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Bank of America raised their price objective on shares of Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Citizens Jmp raised their price objective on shares of Alphabet from $385.00 to $515.00 and gave the company a “market outperform” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Truist Financial raised their price objective on shares of Alphabet from $385.00 to $415.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, CICC Research raised their price objective on shares of Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research note on Friday, May 1st. Two equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $407.86.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is being viewed as a major AI winner, with multiple reports highlighting strong demand for its infrastructure, cloud, and Gemini AI efforts as hyperscalers pour capital into AI. Hyperscalers Now Competing With US Treasury for Capital, Driving Up Government Borrowing Costs
• Positive Sentiment: Alphabet’s stock has been re-rated higher by the market, with analysts and commentators pointing to a stronger valuation profile and improved confidence in its earnings power. Why The Market Is Re-Rating Google Stock
• Positive Sentiment: Alphabet’s Google Pay partnership with Affirm could broaden monetization and make Google’s payments ecosystem more attractive to consumers and merchants. Affirm’s Google Deal Aims for Your Wallet (GOOGL)
• Positive Sentiment: Reports say Alphabet is gaining momentum in government AI contracts, which could open a new high-value revenue stream and help diversify away from ads. Why Palantir Suddenly Looks Vulnerable After Google’s Move

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the transaction, the director directly owned 18,621 shares in the company, valued at approximately $6,908,391. The trade was a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 157,953 shares of company stock valued at $47,767,818. Company insiders own 11.61% of the company’s stock.

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.