- Advisory Alpha LLC raised its Alphabet shares by 6.8%, owning 22,842 shares valued at $4.35M.
- Analysts have a “Moderate Buy” consensus for Alphabet, with a price target of $205.13.
- Alphabet reported strong Q3 earnings, surpassing expectations, with a 15.1% YoY revenue increase.
Advisory Alpha LLC’s decision to increase its position in Alphabet Inc. by 6.8% during Q4 highlights growing institutional confidence in the tech giant.
The firm now holds 22,842 shares, worth approximately $4.35 million, further indicating Alphabet’s stable financial outlook. Other hedge funds have also adjusted their stakes in the company, adding to its momentum as it prepares for future growth.
Alphabet’s Institutional Backing Grows Amid Strong Financial Performance
Alphabet’s performance continues to impress, with strong earnings and consistent growth. The company posted $2.12 per share for Q3 2024, surpassing analysts’ consensus estimates, and its revenue was up 15.1% from the previous year. With institutional investors showing confidence and analysts maintaining a positive outlook, Alphabet’s stock continues to be viewed as a strong investment option, with a price target of $205.13.
Alphabet’s recent Q3 earnings report shows its solid performance, with an EPS of $2.12, beating estimates by $0.29. The company’s revenue for the quarter reached $88.27 billion, exceeding analyst expectations. This growth of 15.1% year-over-year underscores Alphabet’s consistent ability to deliver strong financial results.
Along with the earnings beat, Alphabet declared a quarterly dividend of $0.20 per share. This move further boosts investor confidence, as it highlights the company’s robust cash flow and commitment to rewarding shareholders. The dividend payout ratio remains modest at 10.61%, indicating that the company retains ample resources for future investments.
Despite some insider selling, including notable transactions from CAO Amie Thuener O’toole and Director Frances Arnold, Alphabet remains an attractive stock for institutional investors. Analysts have set a price target of $205.13, signaling continued optimism about the company’s future prospects.
Alphabet Inc. continues to show strong financial results and institutional backing, making it an appealing investment for the future.
“Alphabet’s continued growth, coupled with institutional confidence, reflects its stable market position and optimistic outlook.”
