Haven Capital Group Inc. Purchases New Stake in Alphabet Inc. $GOOGL

Haven Capital Group Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 24,112 shares of the information services provider’s stock, valued at approximately $6,934,000. Alphabet accounts for approximately 6.4% of Haven Capital Group Inc.’s holdings, making the stock its 4th biggest holding.

A number of other large investors have also added to or reduced their stakes in GOOGL. Louisiana State Employees Retirement System acquired a new position in shares of Alphabet during the first quarter worth $125,146,000. Parkway Wealth Management Group LLC grew its position in shares of Alphabet by 540.3% in the 1st quarter. Parkway Wealth Management Group LLC now owns 13,997 shares of the information services provider’s stock valued at $4,458,000 after buying an additional 11,811 shares during the last quarter. Penobscot Wealth Management raised its position in shares of Alphabet by 2.9% during the first quarter. Penobscot Wealth Management now owns 1,309 shares of the information services provider’s stock worth $376,000 after acquiring an additional 37 shares during the last quarter. Aegis Wealth Management Inc. increased its position in Alphabet by 13.5% during the 1st quarter. Aegis Wealth Management Inc. now owns 882 shares of the information services provider’s stock valued at $254,000 after purchasing an additional 105 shares during the period. Finally, Hoge Financial Services LLC raised its holdings in Alphabet by 6.3% during the 1st quarter. Hoge Financial Services LLC now owns 3,973 shares of the information services provider’s stock worth $1,144,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,465 shares of company stock worth $8,020,511 in the last three months. 11.61% of the stock is owned by corporate insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Alphabet Trading Up 1.1%

NASDAQ:GOOGL opened at $361.21 on Thursday. 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 Inc. has a one year low of $172.77 and a one year high of $408.61. The company has a market cap of $4.38 trillion, a PE ratio of 27.55, a PEG ratio of 1.53 and a beta of 1.24. The firm has a 50-day moving average of $370.08 and a 200-day moving average of $333.88.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities research analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business 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. 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. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Daiwa Securities Group lifted their target price on shares of Alphabet from $380.00 to $445.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Citigroup reiterated an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Susquehanna restated a “positive” rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Roth Mkm reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, April 30th. Finally, Arete Research upped their price target on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $413.90.

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.