January Capital Advisors LLC Invests $550,000 in Alphabet Inc. $GOOGL

January Capital Advisors LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,913 shares of the information services provider’s stock, valued at approximately $550,000. Alphabet accounts for approximately 0.7% of January Capital Advisors LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the 4th quarter worth $32,000. EMC Capital Management acquired a new position in shares of Alphabet during the fourth quarter worth about $33,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $38,000. Bard Associates Inc. purchased a new position in Alphabet during the fourth quarter worth about $52,000. Finally, Kentucky Trust Co raised its holdings in Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, June 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Friday, July 17th. DA Davidson set a $350.00 price target on Alphabet and gave the company a “neutral” rating in a report on Thursday, July 23rd. Morgan Stanley set a $400.00 price target on Alphabet and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $515.00 price objective on shares of Alphabet in a report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $419.86.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Insider Activity

In other news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total transaction of $27,337.98. Following the sale, the director owned 18,914 shares in the company, valued at approximately $6,305,738.46. This trade represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 600,547 shares of company stock valued at $16,255,540. 11.61% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOGL stock opened at $354.30 on Friday. The stock’s 50 day moving average price is $355.68 and its 200 day moving average price is $340.41. The firm has a market cap of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 1.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a 1 year low of $196.60 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. On average, sell-side analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. 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 (DPR) is currently 4.42%.

Alphabet Company 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.