Alphabet Inc. $GOOG is Roberts Glore & Co. Inc. IL's 4th Largest Position

Key Points

• Roberts Glore & Co. Inc. IL trimmed its Alphabet stake by 5.9% in Q1, but the stock still ranks as its 4th-largest holding at about $14.0 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates and revenue rising 21.8% year over year to $109.9 billion.
• Wall Street remains bullish on GOOG, with multiple analysts raising price targets and MarketBeat showing a consensus Buy rating and average target of $383.44.

Roberts Glore & Co. Inc. IL trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,832 shares of the information services provider's stock after selling 3,063 shares during the period. Alphabet makes up about 3.8% of Roberts Glore & Co. Inc. IL's holdings, making the stock its 4th biggest position. Roberts Glore & Co. Inc. IL's holdings in Alphabet were worth $14,008,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC purchased a new stake in shares of Alphabet in the third quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $38,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the fourth quarter worth about $38,000. Bard Associates Inc. purchased a new position in Alphabet during the fourth quarter worth about $41,000. Finally, Towne Trust Company N.A raised its holdings in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after purchasing an additional 34 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 2.2%

Shares of GOOG opened at $346.12 on Friday. Alphabet Inc. has a twelve month low of $184.73 and a twelve month high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.19 trillion, a P/E ratio of 26.40, a PEG ratio of 1.48 and a beta of 1.23. The firm's 50-day moving average is $366.29 and its two-hundred day moving average is $336.65.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business posted $2.81 EPS. On average, research analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio (DPR) is 6.71%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,415 shares of company stock valued at $7,672,279. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOG. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Wells Fargo & Company set a $416.00 price target on Alphabet in a report on Thursday, July 2nd. Stifel Nicolaus set a $420.00 price target on Alphabet in a research note on Wednesday, May 20th. Oppenheimer upped their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Finally, Wedbush began coverage on Alphabet in a research report on Thursday. They issued an "outperform" rating and a $445.00 price objective for the company. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $383.44.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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