Alphabet Inc. $GOOG Stake Raised by Robertson Stephens Wealth Management LLC

Key Points

• Robertson Stephens Wealth Management increased its Alphabet stake by 56.8% in Q4, buying 49,182 additional shares and bringing its total holdings to 135,778 shares valued at about $42.6 million.
• Alphabet reported a strong quarter, with EPS of $5.11 versus the $2.68 consensus estimate and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain generally bullish with a consensus rating of “Buy” and a price target of $362.73.

Robertson Stephens Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 56.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,778 shares of the information services provider's stock after acquiring an additional 49,182 shares during the quarter. Alphabet accounts for about 1.1% of Robertson Stephens Wealth Management LLC's portfolio, making the stock its 16th biggest holding. Robertson Stephens Wealth Management LLC's holdings in Alphabet were worth $42,607,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock worth $24,240,469,000 after buying an additional 7,904,434 shares in the last quarter. Danske Bank A S acquired a new position in Alphabet in the third quarter worth approximately $678,198,000. Holocene Advisors LP bought a new position in shares of Alphabet in the second quarter valued at $455,745,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Alphabet by 5.8% in the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock valued at $9,749,864,000 after buying an additional 2,209,203 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $386.77 on Tuesday. Alphabet Inc. has a 12 month low of $157.58 and a 12 month high of $398.37. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.69 trillion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. The business has a fifty day simple moving average of $320.46 and a 200-day simple moving average of $313.53.

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

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's payout ratio is currently 6.41%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 3,581 shares in the company, valued at $1,187,638.65. This represents a 22.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 158,553 shares of company stock valued at $47,951,856 in the last 90 days. Corporate 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: Google said it likely stopped a hacker group from using AI to plan a large-scale cyberattack, underscoring the strength of its cybersecurity capabilities and reducing the risk of a major breach. Reuters: Hackers pushing innovation in AI-enabled hacking operations, Google says
• Positive Sentiment: Investor commentary remained upbeat on Alphabet’s AI, cloud, and Gemini momentum, with some coverage arguing the company could challenge Nvidia as the world’s most valuable company. MSN: Alphabet could overtake Nvidia as world's largest company
• Neutral Sentiment: Google Finance is expanding in Europe, adding another AI-focused product initiative, but this is more of a long-term growth story than an immediate stock-moving catalyst. PYMNTS: Google Finance Continues AI-Focused Expansion With EU Launch

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOG. Cantor Fitzgerald reissued a "neutral" rating on shares of Alphabet in a research note on Tuesday, January 20th. TD Cowen boosted their target price on Alphabet from $375.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Pivotal Research reaffirmed a "buy" rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a "buy" rating in a research report on Friday, March 13th. Finally, KeyCorp set a $370.00 price target on Alphabet in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $362.73.

Alphabet 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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