Blodgett Wealth Advisors LLC Has $9.04 Million Position in Alphabet Inc. $GOOGL

Blodgett Wealth Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,452 shares of the information services provider’s stock after selling 2,010 shares during the quarter. Alphabet makes up about 7.2% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 4th largest position. Blodgett Wealth Advisors LLC’s holdings in Alphabet were worth $9,044,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. EMC Capital Management purchased a new stake in Alphabet in the 4th quarter worth about $33,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet during the fourth quarter valued at about $32,000. PMV Capital Advisers LLC purchased a new stake 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 worth about $38,000. Finally, Bard Associates Inc. bought a new position in Alphabet during the fourth quarter worth about $52,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street remains broadly bullish on Alphabet, with multiple reports citing strong cloud growth, AI-driven momentum in Search and YouTube, and price targets still above current trading levels. Article Title
• Positive Sentiment: Analysts say Alphabet could post a strong Q2, helped by Google Cloud strength and the value of its Anthropic stake, which may support upside if earnings beat expectations. Article Title
• Neutral Sentiment: Investors are also positioning for Alphabet’s upcoming earnings report, with options traders expecting a sizable move, indicating that the stock may stay volatile into the release. Article Title
• Negative Sentiment: Bloomberg-reported delays to Gemini 3.5 Pro have sparked fears that Google is lagging in AI, with concerns that the model’s coding performance fell short of internal goals. Article Title
• Negative Sentiment: Alphabet is facing added regulatory pressure after the EU ordered it to open Android and search data to rival AI companies, and a San Francisco order to remove “nudify” apps from app stores adds to the broader legal overhang. Article Title
• Negative Sentiment: Securities-fraud investigation headlines are creating an additional near-term overhang, even though these are still allegations and not a proven finding of wrongdoing. Article Title

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Susquehanna reissued a “positive” rating and issued a $460.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Wells Fargo & Company cut their price objective on shares of Alphabet from $435.00 to $416.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Cantor Fitzgerald lifted their price objective on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Citizens Jmp reiterated a “market outperform” rating and issued a $515.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, May 29th. Three 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $414.11.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $346.77 on Monday. The firm has a fifty day moving average price of $368.89 and a two-hundred day moving average price of $338.14. The company has a market cap of $4.20 trillion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.44 and a beta of 1.24. 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 Inc. has a one year low of $183.71 and a one year high of $408.61.

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

Alphabet Increases Dividend

The firm also recently announced 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 is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Insider Buying and Selling at Alphabet

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

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.