Alphabet Inc. $GOOG Shares Acquired by AssuredPartners Investment Advisors LLC

Key Points

• AssuredPartners Investment Advisors increased its Alphabet stake by 126.7% in the fourth quarter, buying 6,183 more shares and bringing its total to 11,062 shares valued at about $3.47 million.
• Alphabet posted a strong quarterly earnings beat, reporting $5.11 EPS versus $2.68 expected and $109.9 billion in revenue, with sales up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain largely bullish with a consensus Buy rating and a $363.40 price target.

AssuredPartners Investment Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 126.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,062 shares of the information services provider's stock after purchasing an additional 6,183 shares during the period. AssuredPartners Investment Advisors LLC's holdings in Alphabet were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Tradewinds LLC. raised its position in shares of Alphabet by 2,134.8% during the 3rd quarter. Tradewinds LLC. now owns 45,098 shares of the information services provider's stock valued at $10,984,000 after acquiring an additional 43,080 shares in the last quarter. Kathmere Capital Management LLC increased its position in Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock worth $9,381,000 after buying an additional 2,341 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Alphabet by 31.3% in the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider's stock worth $86,345,000 after purchasing an additional 84,553 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in shares of Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock worth $53,920,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after buying an additional 4,239 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director directly owned 3,581 shares in the company, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 157,953 shares of company stock valued at $47,767,818. Company insiders own 12.99% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman's Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOG shares. Cantor Fitzgerald reissued a "neutral" rating on shares of Alphabet in a research note on Tuesday, January 20th. Pivotal Research reissued a "buy" rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Truist Financial set a $385.00 target price on Alphabet in a research report on Wednesday, April 22nd. Finally, DZ Bank upgraded Alphabet to a "strong-buy" rating in a research report on Monday, February 16th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $363.40.

Alphabet Stock Down 1.0%

NASDAQ:GOOG opened at $393.32 on Friday. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $399.93. 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 stock has a market cap of $4.77 trillion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.70 and a beta of 1.25. The stock has a 50-day moving average price of $327.44 and a two-hundred day moving average price of $316.98.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.81 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's dividend payout ratio is currently 6.41%.

About Alphabet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.