Alphabet Inc. $GOOG Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA increased its Alphabet stake by 1.0% in the first quarter, adding 28,911 shares and bringing its total to 3,055,853 shares worth about $876 million.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus expectations of $2.68 and revenue of $109.9 billion, which was above analyst estimates and up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, though the yield remains modest at about 0.2%.

Pictet Asset Management Holding SA raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,055,853 shares of the information services provider's stock after purchasing an additional 28,911 shares during the period. Alphabet accounts for 0.9% of Pictet Asset Management Holding SA's holdings, making the stock its 13th biggest position. Pictet Asset Management Holding SA's holdings in Alphabet were worth $876,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GOOG. Yoder Wealth Management Inc. raised its position in shares of Alphabet by 9.5% during the 1st quarter. Yoder Wealth Management Inc. now owns 8,759 shares of the information services provider's stock worth $2,513,000 after purchasing an additional 762 shares during the last quarter. Traveka Wealth LLC lifted its stake in Alphabet by 76.3% in the 1st quarter. Traveka Wealth LLC now owns 10,247 shares of the information services provider's stock valued at $2,939,000 after buying an additional 4,434 shares in the last quarter. Welch Financial Planning LLC boosted its holdings in Alphabet by 1.8% in the 1st quarter. Welch Financial Planning LLC now owns 2,813 shares of the information services provider's stock worth $807,000 after buying an additional 50 shares during the last quarter. Cambient Family Office LLC boosted its holdings in Alphabet by 3.8% in the 1st quarter. Cambient Family Office LLC now owns 84,314 shares of the information services provider's stock worth $24,186,000 after buying an additional 3,085 shares during the last quarter. Finally, Signature Wealth Management Partners LLC increased its stake in Alphabet by 32.6% during the 1st quarter. Signature Wealth Management Partners LLC now owns 6,409 shares of the information services provider's stock worth $1,838,000 after buying an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 0.6%

GOOG stock opened at $353.33 on Wednesday. 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 50-day moving average of $366.98 and a two-hundred day moving average of $332.53. Alphabet Inc. has a 12 month low of $173.88 and a 12 month high of $404.47. The company has a market cap of $4.28 trillion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.50 and a beta of 1.22.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results 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 business had revenue of $109.90 billion for 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%.The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. As a group, analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, prompting a stock lift as passive funds and blue-chip investors rebalance into the shares. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google launched Nano Banana 2 Lite and Gemini Omni, cheaper and faster AI image/video models that could strengthen its AI product lineup and improve adoption. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet announced a strategic partnership with Google Cloud to build AI-powered financial intelligence tools, adding validation for Google Cloud’s enterprise AI push. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Visa and Google signed on to use OpenUSD for money movement, suggesting additional ecosystem relevance in digital payments and infrastructure. PYMNTS: Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Several reports highlighted continued bullish analyst views and higher price targets, which support sentiment but are not new fundamental changes by themselves.
• Negative Sentiment: Investors are still worried about Alphabet’s heavy AI spending, with reports noting massive compute-capacity plans and the risk that capital expenditures may weigh on near-term margins. Yahoo Finance: If You Think Alphabet’s AI Spending Is High Now, Just Wait for 2028
• Negative Sentiment: UK regulators opened a consultation aimed at loosening app-store payment restrictions, a potential pressure point for Google’s app marketplace economics. TechXplore: UK targets Apple, Google app store fees for developers
• Negative Sentiment: Recent insider sales, including by director Frances Arnold and CAO Marsida Saraci, may add a small cautionary note even though the sales were modest. SEC filing: Alphabet insider transaction

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company's stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 151,467 shares of company stock worth $4,877,600. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TD Cowen increased their target price on Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. KeyCorp reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, May 20th. Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $376.78.

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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