Alphabet Inc.

NASDAQ Global Select
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Bullish +72

Alphabet Inc. $GOOGL Stake Raised by Diamant Asset Management Inc.

📈 Diamant Asset Management Inc. raised its GOOGL stake by 28,950% to 9.29 million shares worth $2.67 billion.

📊 Alphabet reported Q1 EPS of $5.11, significantly beating the $2.64 consensus estimate with revenue of $109.90 billion.

💰 The company declared a quarterly dividend of $0.22 per share paid on June 15th with an annualized yield of 0.2%.

📉 Multiple analysts including Morgan Stanley and Canaccord Genuity raised price targets to between $415 and $465.

🏦 Hedge funds and institutional investors collectively own 40.03% of the company's outstanding stock.

💼 Director John L. Hennessy sold 1,050 shares for $387,061.50 on June 15th, reducing his ownership by 41.49%.

📉 Insiders sold a total of 160,465 shares valued at $8.02 million over the last 90 days.

🚀 The company maintains a consensus 'Moderate Buy' rating with an average price target of $413.54.

Bullish Signals
  • Diamant Asset Management Inc. increased its GOOGL holdings by 28,950% to own 9.29 million shares valued at $2.67 billion.
  • Alphabet beat Q1 earnings expectations with EPS of $5.11 versus the consensus of $2.64 and revenue of $109.90 billion.
  • Multiple analysts raised price targets, including Morgan Stanley to $415, Canaccord Genuity to $450, and Cantor Fitzgerald to $465.
  • The company increased its quarterly dividend to $0.22 per share, raising the annualized yield to 0.2%.
Risk Factors
  • Company insiders sold a total of 160,465 shares valued at $8.02 million in the last 90 days.
  • Director John L. Hennessy reduced his ownership stake by 41.49% through a sale of 1,050 shares.
Full Analysis
Diamant Asset Management Inc. significantly increased its stake in Alphabet Inc. (GOOGL) by 28,950% during the first quarter, acquiring an additional 9.26 million shares to own a total of 9.29 million shares valued at approximately $2.67 billion. This position now represents 8.8% of Diamant's portfolio and ranks as its second-largest holding. Several other institutional investors, including Brighton Jones LLC, Revolve Wealth Partners, Matrix Asset Advisors, Sequoia Financial Advisors, and United Bank, also increased their holdings in the information services provider during recent quarters. Alphabet reported strong quarterly earnings on April 29th, with EPS of $5.11 beating the consensus estimate of $2.64 and revenue reaching $109.90 billion against expectations of $106.98 billion. The company achieved a net margin of 37.92% and a return on equity of 38.99%. Additionally, Alphabet declared a quarterly dividend of $0.22 per share paid on June 15th, representing an annualized yield of 0.2% and a payout ratio of 6.71%, marking an increase from the previous quarter's dividend. Analyst sentiment remains positive with multiple firms raising price targets and maintaining buy ratings. Rosenblatt Securities set a $393 target, while Morgan Stanley, Canaccord Genuity, Cantor Fitzgerald, and Oppenheimer raised their respective price targets to between $415 and $465. The consensus rating is a 'Moderate Buy' with an average price target of $413.54. Conversely, insider selling activity was noted in June, with directors John L. Hennessy and Frances Arnold selling shares totaling over $8 million in the last 90 days, though insiders still own 11.61% of the stock.