Apollon Wealth Management LLC Has $56.90 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Apollon Wealth Management increased its Alphabet stake by 3.9% in the first quarter, buying 7,503 more shares and bringing its total holding to 198,365 shares valued at about $56.9 million.
• Institutional interest in Alphabet remains broad, with several other firms also adding to positions and institutions overall owning 27.26% of the company’s stock.
• Wall Street sentiment is still mostly bullish on GOOG: multiple analysts reiterated buy/strong-buy ratings, and the average price target sits at $376.78, while Alphabet also posted strong recent earnings and raised its quarterly dividend.

Apollon Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,365 shares of the information services provider's stock after purchasing an additional 7,503 shares during the quarter. Alphabet accounts for 0.9% of Apollon Wealth Management LLC's investment portfolio, making the stock its 17th largest holding. Apollon Wealth Management LLC's holdings in Alphabet were worth $56,903,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Riverbend Wealth Management LLC lifted its holdings in shares of Alphabet by 2.9% in the first quarter. Riverbend Wealth Management LLC now owns 4,324 shares of the information services provider's stock valued at $1,241,000 after purchasing an additional 120 shares in the last quarter. LifeSteps Financial Inc. raised its stake in shares of Alphabet by 1.0% in the first quarter. LifeSteps Financial Inc. now owns 3,707 shares of the information services provider's stock valued at $1,063,000 after buying an additional 36 shares during the period. Princeton Global Asset Management LLC lifted its holdings in Alphabet by 0.3% during the first quarter. Princeton Global Asset Management LLC now owns 35,797 shares of the information services provider's stock valued at $10,269,000 after purchasing an additional 101 shares during the last quarter. Aspire Private Capital LLC lifted its stake in shares of Alphabet by 3.5% during the 1st quarter. Aspire Private Capital LLC now owns 953 shares of the information services provider's stock valued at $273,000 after buying an additional 32 shares in the last quarter. Finally, Seneca Financial Advisors LLC lifted its position in shares of Alphabet by 10.8% during the first quarter. Seneca Financial Advisors LLC now owns 1,418 shares of the information services provider's stock worth $407,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOG. Raymond James Financial reiterated a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. KeyCorp reaffirmed an "overweight" rating on shares of Alphabet in a research note on Wednesday, May 20th. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a report on Wednesday, May 20th. Freedom Capital cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Truist Financial set a $430.00 price target on shares of Alphabet in a report on Monday, June 1st. 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. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $376.78.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s inclusion in the Dow Jones Industrial Average is drawing passive fund flows and reinforcing its status as a blue-chip tech leader. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: New AI product launches, including Nano Banana 2 Lite and Gemini Omni, suggest Alphabet is still pushing harder on cheaper, faster AI tools that could boost adoption and competitiveness. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet’s strategic partnership with Google Cloud adds another enterprise validation point for Alphabet’s AI and cloud strategy. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Wall Street commentary remains broadly bullish, with multiple analysts reiterating buy ratings and raising price targets, supporting the idea that recent weakness may be a buying opportunity.
• Neutral Sentiment: Google exceeded its $1 billion Africa investment target, which is strategically positive but not likely a near-term earnings driver. Reuters: Google has exceeded $1 billion Africa investment target
• Neutral Sentiment: Several reports highlighted strong long-term AI and cloud upside, but these were largely reiterations of an already bullish thesis rather than new catalysts.
• Negative Sentiment: A Swedish court ordered Google to pay nearly $2 billion in antitrust damages to Klarna’s PriceRunner unit, renewing regulatory pressure on Alphabet’s search and shopping businesses. Reuters: Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
• Negative Sentiment: Alphabet insiders continued to sell shares, including director Frances Arnold and president John Kent Walker, which can weigh on investor sentiment even if the sales were routine. SEC filing: Alphabet insider transaction
• Negative Sentiment: Investors are also worried about Alphabet’s heavy AI infrastructure spending and compute-capacity constraints, which could pressure margins in the near term. Yahoo Finance: Alphabet Could Add 9 GW of Compute Capacity in 2028, Morgan Stanley Says

Insider Activity

In other Alphabet news, Director Frances Arnold sold 112 shares of the company's stock in a transaction that occurred 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 owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Alphabet stock opened at $357.89 on Thursday. Alphabet Inc. has a fifty-two week low of $173.88 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $4.34 trillion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23. The firm's fifty day moving average price is $367.43 and its 200-day moving average price is $332.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter in the prior year, the firm earned $2.81 earnings per share. The firm's revenue was up 21.8% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio is currently 6.71%.

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.

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.