Alphabet Inc. $GOOG Stake Lifted by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 281.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,345 shares of the information services provider's stock after acquiring an additional 87,318 shares during the quarter. Alphabet comprises about 0.8% of Elevation Point Wealth Partners LLC's investment portfolio, making the stock its 18th biggest holding. Elevation Point Wealth Partners LLC's holdings in Alphabet were worth $33,948,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock worth $330,886,000 after purchasing an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $658,000. Financial Advisors Network Inc. lifted its stake in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock valued at $1,409,000 after purchasing an additional 565 shares during the last quarter. Finally, Ausdal Financial Partners Inc. lifted its stake in Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock valued at $6,618,000 after purchasing an additional 3,616 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 2.4%

GOOG stock opened at $364.90 on Tuesday. The company has a 50 day moving average of $368.31 and a two-hundred day moving average of $333.49. The company has a market cap of $4.42 trillion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.52 and a beta of 1.23. Alphabet Inc. has a 12-month low of $173.88 and a 12-month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. 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 was Monday, June 8th. Alphabet's dividend payout ratio is presently 6.71%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial set a $430.00 price target on shares of Alphabet in a research report on Monday, June 1st. TD Cowen raised their price objective on Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Citigroup restated a "market outperform" rating on shares of Alphabet in a report on Monday, June 22nd. Pivotal Research reaffirmed a "buy" rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and an average price target of $376.19.

Insider Buying and Selling

In other news, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 160,465 shares of company stock worth $8,020,511. Insiders own 12.99% of the company's stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is drawing renewed bullish attention after multiple articles highlighted its strong AI positioning, including new AI model launches and commentary that the stock remains attractive as a long-term AI winner. Google Just Launched 2 New AI Models. What That Means for GOOGL Stock.
• Positive Sentiment: Investor optimism is also being reinforced by Alphabet’s cloud momentum, with coverage noting that Google Cloud revenue growth and a very large backlog continue to support the company’s AI and enterprise growth story. Alphabet Stock Has Doubled in a Year. Is It Too Late to Buy?
• Positive Sentiment: Alphabet also got a boost from media and pundit commentary, including CNBC “Final Trades” mention and other bullish pieces that framed GOOG as a favored AI holding. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC's ‘Final Trades’
• Neutral Sentiment: Reports that Google is expanding AI training to include more user-uploaded media could help its models, but they also raise privacy questions that may keep investors cautious. If you use Google, you're training its AI. Here's how to opt out.
• Neutral Sentiment: Coverage about employee departures and a softer “dream job” reputation points to some internal AI talent pressure, but it is not yet a clear earnings threat. Google's status as the dream tech job is changing. FOMO over AI salaries is only one reason why.
• Negative Sentiment: Waymo’s robotaxi hiccups during San Francisco July 4 traffic are a reminder that Alphabet’s “Other Bets” unit still faces execution risk, though the impact on the core business appears limited. Waymo says some of its robotaxis ran out of power during San Francisco's July 4 gridlock and had to be towed

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.

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