Portus Wealth Advisors LLC Sells 2,223 Shares of Alphabet Inc. $GOOGL

Portus Wealth Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 47.7% during the first quarter, HoldingsChannel.com reports. The fund owned 2,437 shares of the information services provider’s stock after selling 2,223 shares during the period. Portus Wealth Advisors LLC’s holdings in Alphabet were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Apollon Wealth Management LLC boosted its stake in shares of Alphabet by 21.0% in the 1st quarter. Apollon Wealth Management LLC now owns 361,410 shares of the information services provider’s stock valued at $103,927,000 after purchasing an additional 62,785 shares in the last quarter. Patton Fund Management Inc. increased its position in Alphabet by 1,722.6% during the 1st quarter. Patton Fund Management Inc. now owns 12,995 shares of the information services provider’s stock worth $3,737,000 after purchasing an additional 12,282 shares in the last quarter. Aspire Private Capital LLC lifted its stake in Alphabet by 2.8% in the 1st quarter. Aspire Private Capital LLC now owns 18,447 shares of the information services provider’s stock valued at $5,304,000 after purchasing an additional 511 shares during the last quarter. Seneca Financial Advisors LLC lifted its stake in Alphabet by 5.7% in the 1st quarter. Seneca Financial Advisors LLC now owns 1,233 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 67 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Alphabet by 105.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 20,606 shares of the information services provider’s stock valued at $5,926,000 after buying an additional 10,577 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Rothschild & Co Redburn increased their price target on Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 4th. Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Loop Capital upped their price objective on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $393.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $413.54.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,465 shares of company stock valued at $8,020,511 over the last three months. 11.61% of the stock is currently owned by corporate insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Several recent stories highlight Alphabet’s AI and cloud momentum, including Google Cloud traction with enterprise customers like Jack Henry and growing use of Google’s cloud tech by Italy’s Intesa Sanpaolo, which supports the bull case for future growth. Article Title
• Positive Sentiment: Jim Cramer argued that Alphabet still looks cheap, reinforcing a valuation-supportive narrative for GOOGL after its pullback. Article Title
• Positive Sentiment: Wall Street sentiment remains constructive, with Wells Fargo keeping an overweight rating and multiple analysts maintaining buy recommendations, which may help support the stock. Article Title
• Neutral Sentiment: Alphabet’s insider selling by John Kent Walker appears routine and is not, by itself, a major fundamental concern for investors. Article Title
• Neutral Sentiment: Coverage around Alphabet’s growing role in AI-powered shopping, robotaxis, and other ecosystem developments adds to the long-term story, but these are more thesis-supportive than immediate catalysts. Article Title
• Negative Sentiment: The biggest drag is the EU Supreme Court decision upholding Alphabet’s €4.1 billion Android antitrust fine, which reinforces legal and regulatory overhangs for the stock. Article Title
• Negative Sentiment: A separate Swedish court ruling ordered Alphabet to pay nearly $2 billion in a price-comparison dispute, adding to the sense that antitrust and competition risks remain active. Article Title

Alphabet Price Performance

Shares of GOOGL opened at $359.91 on Monday. The business has a 50-day moving average of $371.05 and a 200-day moving average of $334.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $4.36 trillion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. Alphabet Inc. has a 1 year low of $172.77 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations 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 anticipate that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost 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%.

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.