Purpose Unlimited Inc. Acquires New Stake in Alphabet Inc. $GOOG

Purpose Unlimited Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 15,745 shares of the information services provider’s stock, valued at approximately $4,941,000.

A number of other large investors have also made changes to their positions in GOOG. Painted Porch Advisors LLC lifted its stake in shares of Alphabet by 6.1% in the 4th quarter. Painted Porch Advisors LLC now owns 4,051 shares of the information services provider’s stock worth $1,271,000 after purchasing an additional 233 shares during the period. Cornerstone Planning LLC bought a new position in Alphabet in the fourth quarter worth approximately $646,000. AMG Asset Management Group Inc. purchased a new position in shares of Alphabet during the 4th quarter worth $296,000. Bank of New Hampshire grew its position in shares of Alphabet by 9.7% during the 4th quarter. Bank of New Hampshire now owns 15,440 shares of the information services provider’s stock valued at $4,845,000 after acquiring an additional 1,360 shares during the period. Finally, Osbon Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter worth $956,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares in the company, valued at $7,132,701. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred on 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 160,516 shares of company stock worth $7,344,604 over the last ninety days. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $435.00 target price on shares of Alphabet in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $420.00 price target on Alphabet in a research report on Wednesday, May 20th. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Pivotal Research reaffirmed a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus target price of $376.78.

Alphabet Stock Performance

Shares of Alphabet stock opened at $367.46 on Monday. The company has a market capitalization of $4.45 trillion, a P/E ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a fifty day moving average of $364.31 and a 200 day moving average of $331.18. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the firm earned $2.81 earnings per share. The business’s quarterly revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. 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%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

About Alphabet

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.