Sovran Advisors LLC Has $8.36 Million Stock Holdings in Alphabet Inc. $GOOGL

Sovran Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,087 shares of the information services provider’s stock after purchasing an additional 5,628 shares during the period. Sovran Advisors LLC’s holdings in Alphabet were worth $8,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GOOGL. EMC Capital Management purchased a new stake in shares of Alphabet during the 4th quarter valued at $33,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet in the 4th quarter worth about $32,000. PMV Capital Advisers LLC bought a new position in Alphabet during the fourth quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet during the fourth quarter valued at about $38,000. Finally, Bard Associates Inc. purchased a new stake in Alphabet during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.5%

Shares of Alphabet stock opened at $351.99 on Tuesday. The company’s 50-day moving average price is $368.16 and its 200-day moving average price is $338.41. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $186.15 and a 12-month high of $408.61. The company has a market cap of $4.26 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.44 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts expect that Alphabet Inc. will post 14.33 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly developing a new AI server chip to make Gemini run more efficiently, which could improve performance and reduce infrastructure costs. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Shares were also lifted by reports that Alphabet’s AI chip initiative could strengthen its competitive position against Nvidia and support its broader AI rollout. Yahoo Finance: Alphabet stock gains on report of next-generation AI chip project
• Positive Sentiment: Analysts and market commentators say Alphabet’s upcoming Q2 results could be supported by Search ad strength, Cloud growth, and rising subscriptions, with expectations for an earnings surprise still elevated. Zacks: Will Alphabet’s Q2 Earnings Reignite the Tech Rally?
• Positive Sentiment: Wall Street analysts remain generally constructive on Alphabet ahead of earnings, with some notes suggesting meaningful upside from current levels. Zacks: Wall Street Analysts Think Alphabet (GOOGL) Is a Good Investment: Is It?
• Neutral Sentiment: Alphabet’s upcoming earnings report is expected to be a major event for the stock, with traders bracing for a potentially large move depending on guidance and AI capex plans. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Several articles highlighted Alphabet as one of this week’s most closely watched earnings names, but these were largely preview pieces rather than new fundamental developments. Proactive Investors: Week ahead: Wall Street gears up for volatility as Big Tech earnings kick into high gear
• Negative Sentiment: One New York Times report criticized Google’s AI search features as potentially harming the open web, which could add regulatory and reputational pressure over time. NYT: How Google’s A.I. Search Is Imperiling the Open Web
• Negative Sentiment: Two securities-fraud investigation notices may create some headline overhang, although they are routine plaintiff-lawyer announcements and not evidence of new wrongdoing. Globe Newswire: Securities Fraud Investigation Into Alphabet Inc. (GOOG) Continues

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,415 shares of company stock valued at $7,672,279 over the last 90 days. Company insiders own 11.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GOOGL shares. Stifel Nicolaus set a $420.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Thursday, April 30th. Piper Sandler restated an “overweight” rating and set a $445.00 price target (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Mizuho lifted their price target on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Dbs Bank upped their price objective on Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $455.00 price objective (up from $435.00) on shares of Alphabet in a report on Friday. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.11.

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.