McIlrath & Eck LLC Acquires 2,395 Shares of Alphabet Inc. $GOOG

McIlrath & Eck LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 17,857 shares of the information services provider’s stock after purchasing an additional 2,395 shares during the quarter. McIlrath & Eck LLC’s holdings in Alphabet were worth $5,603,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GOOG. Brighton Jones LLC boosted its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in Alphabet by 76.2% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after acquiring an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $658,000. Financial Advisors Network Inc. boosted its position in Alphabet by 7.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after acquiring an additional 565 shares during the last quarter. Finally, Ausdal Financial Partners Inc. boosted its position in Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after acquiring an additional 3,616 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman’s Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director directly owned 3,581 shares of the company’s stock, valued at approximately $1,187,638.65. This represents a 22.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the sale, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 157,953 shares of company stock worth $47,767,818 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GOOG. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $370.00 price target on shares of Alphabet in a research report on Tuesday, January 20th. Truist Financial set a $385.00 price target on Alphabet in a research report on Wednesday, April 22nd. Pivotal Research reaffirmed a “buy” rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, Needham & Company LLC set a $400.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $363.40.

Alphabet Price Performance

NASDAQ:GOOG opened at $393.32 on Friday. Alphabet Inc. has a 1-year low of $163.33 and a 1-year high of $399.93. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $327.44 and a 200 day simple moving average of $316.98. The stock has a market capitalization of $4.77 trillion, a PE ratio of 30.00, a P/E/G ratio of 1.70 and a beta of 1.25.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned $2.81 earnings per share. On average, research analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.41%.

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.