Bartlett & CO. Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,423 shares of the information services provider's stock after selling 50,958 shares during the quarter. Alphabet makes up about 5.0% of Bartlett & CO. Wealth Management LLC's investment portfolio, making the stock its 2nd largest holding. Bartlett & CO. Wealth Management LLC's holdings in Alphabet were worth $378,490,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Auto Owners Insurance Co boosted its holdings in Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock worth $5,643,262,000 after buying an additional 179,369,280 shares during the period. J. Stern & Co. LLP raised its holdings in Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after acquiring an additional 111,699,704 shares during the period. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at about $18,093,665,000. Cardano Risk Management B.V. lifted its position in shares of Alphabet by 850.3% in the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider's stock valued at $5,551,938,000 after acquiring an additional 15,830,754 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Alphabet by 2.0% in 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 acquiring an additional 8,128,234 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Down 1.5%
Shares of NASDAQ GOOG opened at $346.19 on Wednesday. Alphabet Inc. has a 1-year low of $188.49 and a 1-year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business's 50 day moving average is $364.83 and its two-hundred day moving average is $337.29. The stock has a market capitalization of $4.19 trillion, a P/E ratio of 26.41, a PEG ratio of 1.45 and a beta of 1.23.
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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the company earned $2.81 EPS. As a group, research analysts expect that Alphabet Inc. will post 14.33 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.
Insider Buying and Selling
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 159,415 shares of company stock valued at $7,672,279 over the last 90 days. 12.99% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research firms recently issued reports on GOOG. The Goldman Sachs Group reiterated a "buy" rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Wolfe Research reiterated an "outperform" rating on shares of Alphabet in a research report on Monday. Citigroup reissued a "market outperform" rating on shares of Alphabet in a report on Monday, June 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average price target of $383.44.
View Our Latest Analysis on Alphabet
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google is reportedly building a custom AI server chip, “Frozen v2,” to run Gemini more efficiently and reduce compute costs, which could improve long-term margins and support cloud growth.
- Positive Sentiment: Alphabet released new Gemini model variants, including cheaper and cybersecurity-focused versions, signaling continued AI product progress ahead of earnings.
- Positive Sentiment: Analysts remain broadly constructive into earnings, with expectations for strong revenue growth and continued strength in Search and Google Cloud.
- Neutral Sentiment: Options traders are pricing in a meaningful post-earnings move, suggesting the stock could react sharply to Wednesday’s results either way.
- Neutral Sentiment: Senator Jerry Moran disclosed a purchase of GOOG shares, a modest signal of insider confidence but not a major market-moving catalyst.
- Negative Sentiment: Investors remain concerned about Alphabet’s large AI and data-center spending, and the delayed Gemini Pro launch is adding to questions about execution and AI payoff.
- Negative Sentiment: Ongoing securities-fraud investigations create additional headline risk and may weigh on sentiment ahead of earnings.
Alphabet Profile
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Free Report)
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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