Arrow Capital Management LLC Acquires New Position in Alphabet Inc. $GOOG

Key Points

• Arrow Capital Management initiated a new position in Alphabet during the fourth quarter, buying 97,977 shares valued at about $30.7 million. The stake now represents roughly 17.9% of the firm’s portfolio, making GOOG its largest holding.
• Alphabet reported better-than-expected earnings for the quarter ended April 30, with EPS of $5.11 versus the $2.68 consensus and revenue of $109.9 billion, up 21.8% year over year. Analysts remain broadly positive, with a MarketBeat average rating of Buy and an average target price of $376.78.
• The company also increased its quarterly dividend to $0.22 per share from $0.21, or $0.88 annually. Insider activity was mixed, with director John L. Hennessy and other insiders selling shares, while institutional ownership remains significant.

Arrow Capital Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 97,977 shares of the information services provider's stock, valued at approximately $30,745,000. Alphabet makes up approximately 17.9% of Arrow Capital Management LLC's investment portfolio, making the stock its biggest position.

A number of other large investors have also made changes to their positions in GOOG. Imprint Wealth LLC acquired a new position in Alphabet during the third quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $41,000. Towne Trust Company N.A raised its holdings in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after acquiring an additional 34 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $45,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. 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. Wells Fargo & Company reiterated an "overweight" rating and issued a $435.00 price objective on shares of Alphabet in a report on Tuesday, June 2nd. Finally, Citigroup reiterated a "market outperform" rating on shares of Alphabet in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $376.78.

Alphabet Stock Performance

Shares of GOOG stock opened at $367.46 on Friday. 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 firm has a market cap of $4.45 trillion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. The company has a 50-day moving average of $364.31 and a two-hundred day moving average of $331.07. Alphabet Inc. has a 1-year low of $163.33 and a 1-year high of $404.47.

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

Alphabet Increases Dividend

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

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last three months. Company insiders own 12.99% of the company's stock.

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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