Steelhead Wealth Management LLC Buys Shares of 1,871 Alphabet Inc. $GOOGL

Steelhead Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,871 shares of the information services provider’s stock, valued at approximately $538,000.

Other large investors have also made changes to their positions in the company. Strategic Wealth Advisors LLC grew its stake in Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock worth $137,000 after buying an additional 27 shares during the last quarter. Rockbridge Investment Management LCC raised its stake in Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock valued at $1,570,000 after buying an additional 27 shares during the last quarter. Ruggaard & Associates LLC boosted its holdings in Alphabet by 0.9% in the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after acquiring an additional 27 shares in the last quarter. Cadia Private Client LLC boosted its holdings in Alphabet by 1.1% in the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after acquiring an additional 28 shares in the last quarter. Finally, Evansbrook LLC boosted its holdings in Alphabet by 0.3% in the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock worth $2,738,000 after acquiring an additional 28 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total transaction of $27,337.98. Following the completion of the transaction, the director owned 18,914 shares of the company’s stock, valued at $6,305,738.46. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Insiders have sold 600,547 shares of company stock worth $16,255,540 over the last ninety days. 11.61% of the stock is owned by insiders.

Alphabet Trading Down 4.0%

Alphabet stock opened at $362.43 on Thursday. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52 week low of $193.67 and a 52 week high of $408.61. The company has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. The stock has a 50-day moving average price of $356.85 and a 200 day moving average price of $340.12.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Sell-side analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio is 4.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Rothschild & Co Redburn upped their price objective on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. The Goldman Sachs Group lifted their target price on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Citigroup reissued an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research note on Monday, June 22nd. Finally, Arete Research raised their price target on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $419.86.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly discussing a potential deal valued at more than $1.5 billion with AI coding-agent startup Mechanize. The arrangement could provide access to specialized talent and technology in a rapidly expanding AI application market. Google is in talks for a $1.5 billion-plus deal with AI coding agent startup Mechanize
• Positive Sentiment: Alphabet continues to benefit from strong fundamentals and AI-related growth opportunities, including its cloud business, advertising franchise and direct sales of custom Tensor Processing Units. Analysts remain broadly optimistic about the stock’s long-term growth prospects. Is Alphabet a Solid Growth Stock?
• Positive Sentiment: Alphabet-owned Waymo opened its Dallas robotaxi service to all residents and visitors, supporting the company’s effort to scale autonomous-driving operations. Waymo opens up robotaxi service in Dallas to everyone
• Neutral Sentiment: Demis Hassabis is moving from leading Google DeepMind into an Alphabet chief scientist role focused on long-term research and AI safety. Management described the move as a leadership realignment, but investors are weighing whether it could disrupt near-term product execution. Google shakes up AI leadership as DeepMind chief shifts role
• Negative Sentiment: Longtime chief scientist Jeff Dean and three other senior AI researchers are leaving Google to launch Discovery Loop, an AI startup focused on automated research and drug design. The departures intensify concerns over the loss of influential technical talent during the AI race. Google chief scientist Jeff Dean leaving in AI reshuffle
• Negative Sentiment: The leadership overhaul comes while Google’s latest flagship Gemini release remains delayed, increasing investor anxiety about product momentum and competitive positioning. Why is Alphabet stock falling?
• Negative Sentiment: A U.K. tribunal allowed a roughly $6.7 billion advertiser class action to proceed, adding to Alphabet’s regulatory and legal exposure in its search and advertising businesses. UK Tribunal Rejects Google Bid to Block Advertiser Class Action

About Alphabet

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.