CrossGen Wealth LLC Makes New $4.78 Million Investment in Alphabet Inc. $GOOGL

CrossGen Wealth LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 15,264 shares of the information services provider’s stock, valued at approximately $4,778,000. Alphabet accounts for 4.2% of CrossGen Wealth LLC’s holdings, making the stock its 5th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the company. PMV Capital Advisers LLC bought a new stake in Alphabet during the fourth quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the 4th quarter worth about $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter worth about $52,000. Kentucky Trust Co raised its holdings in shares of Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 100 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Alphabet in the 3rd quarter valued at about $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet News Summary

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

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,516 shares of company stock valued at $7,344,604. Insiders own 11.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Sanford C. Bernstein reissued a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. HSBC reaffirmed a “buy” rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Guggenheim reiterated a “buy” rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Mizuho boosted their price target on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, New Street Research increased their price target on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $413.13.

Alphabet Stock Performance

NASDAQ GOOGL opened at $368.48 on Friday. The company has a 50-day simple moving average of $366.01 and a two-hundred day simple moving average of $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. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The firm has a market cap of $4.46 trillion, a price-to-earnings ratio of 28.11, a PEG 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 for the quarter, beating analysts’ consensus estimates 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 forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

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