Wendell David Associates Inc. Has $32.21 Million Position in Alphabet Inc. $GOOGL

Wendell David Associates Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,018 shares of the information services provider’s stock after selling 2,663 shares during the period. Alphabet makes up 3.5% of Wendell David Associates Inc.’s holdings, making the stock its 8th biggest holding. Wendell David Associates Inc.’s holdings in Alphabet were worth $32,212,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GOOGL. Lifetime Wealth Management P.C. bought a new stake in Alphabet in the fourth quarter worth approximately $32,000. EMC Capital Management acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $33,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $38,000. Finally, Bard Associates Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at $52,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial set a $430.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, May 29th. Oppenheimer raised their target price on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Rothschild & Co Redburn boosted their target price on Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America increased their price target on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $415.00 price objective (up from $375.00) on shares of Alphabet in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $413.54.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo plans to expand driverless rides to four more major cities this year, with a phased rollout that could broaden Alphabet’s autonomous vehicle opportunity and reinforce its leadership in robotaxis. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Alphabet continues to be highlighted as a beneficiary of massive AI infrastructure spending, with analysts pointing to strong demand for cloud expansion, data centers, and AI hardware. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Alphabet was cited as an indirect way to gain exposure to Anthropic ahead of a possible IPO, since the company already holds a major private stake in the AI startup. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There (GOOGL)
• Positive Sentiment: Berkshire Hathaway reportedly added a $10 billion private placement investment in Alphabet, a sign of institutional confidence that could support sentiment in the stock. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Cognizant deepened its Google Cloud partnership to accelerate enterprise AI adoption, which underscores Alphabet’s cloud relevance but is not a direct financial catalyst by itself. Cognizant Strengthens AI Portfolio Through Google Cloud Partnership
• Neutral Sentiment: Google’s upcoming Pixel launch event on August 12 keeps hardware in view, but this is more of a product-calendar reminder than an immediate stock-moving catalyst. Google’s Pixel event is set for August 12
• Negative Sentiment: Google updated the Chrome Web Store to ban prediction market transactions, a policy move that may be seen as restrictive and could attract backlash from affected users and developers. Google Bans Prediction Market Transactions Amid Backlash
• Negative Sentiment: One article noted Alphabet shares were already slipping versus the broader market, adding to the intraday weakness as traders weigh valuation and AI competition concerns. Alphabet Inc. (GOOG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Alphabet Stock Down 1.4%

GOOGL opened at $361.92 on Thursday. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61. The firm has a market capitalization of $4.39 trillion, a P/E ratio of 27.61, a PEG ratio of 1.57 and a beta of 1.24. The company’s 50-day moving average is $372.28 and its 200 day moving average is $335.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Research analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction on Monday, June 29th. The stock was 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 directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,465 shares of company stock valued at $8,020,511 over the last quarter. Corporate insiders own 11.61% of the company’s stock.

Alphabet 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.