Scge Management L.P. Invests $501.74 Million in Alphabet Inc. $GOOGL

Scge Management L.P. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,603,000 shares of the information services provider’s stock, valued at approximately $501,739,000. Alphabet comprises 11.4% of Scge Management L.P.’s investment portfolio, making the stock its 2nd biggest holding.

Other large investors have also recently bought and sold shares of the company. PMV Capital Advisers LLC purchased a new position in Alphabet in the fourth quarter worth $38,000. IFC & Insurance Marketing Inc. purchased a new position in Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. purchased a new position in Alphabet in the fourth quarter worth $52,000. Kentucky Trust Co raised its position in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after acquiring an additional 100 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in Alphabet in the third quarter worth $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOGL. New Street Research increased their price objective on Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Cantor Fitzgerald increased their price objective on Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Finally, CICC Research upped their target price on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $413.13.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Insider Activity

In related news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 191,966 shares of company stock worth $16,963,968 in the last quarter. Corporate insiders own 11.61% of the company’s stock.

Alphabet Stock Up 2.7%

Alphabet stock opened at $369.35 on Tuesday. 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 firm has a market capitalization of $4.48 trillion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The stock’s fifty day moving average is $361.93 and its two-hundred day moving average is $330.66.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 6.71%.

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.