Ascentis Independent Advisors Increases Stock Position in Alphabet Inc. $GOOG

Key Points

• Ascentis Independent Advisors increased its Alphabet stake by 170.7% in the first quarter, buying 14,292 additional shares and bringing its total holding to 22,667 shares valued at about $6.5 million.
• Alphabet reported strong quarterly results, with earnings of $5.11 per share versus estimates of $2.68 and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly bullish with a Buy consensus and an average target price of $376.19.

Ascentis Independent Advisors increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 170.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,667 shares of the information services provider's stock after purchasing an additional 14,292 shares during the period. Ascentis Independent Advisors' holdings in Alphabet were worth $6,503,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in Alphabet in the fourth quarter valued at about $38,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the fourth quarter worth about $38,000. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the third quarter valued at about $31,000. Bard Associates Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at about $41,000. Finally, Towne Trust Company N.A lifted its position in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after buying an additional 34 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.7%

NASDAQ GOOG opened at $356.24 on Friday. Alphabet Inc. has a 12-month low of $175.74 and a 12-month high of $404.47. The company has a fifty day simple moving average of $369.66 and a two-hundred day simple moving average of $335.08. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.32 trillion, a P/E ratio of 27.17, a P/E/G ratio of 1.53 and a beta of 1.23.

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 for the quarter, beating 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 firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same period in the previous year, the company earned $2.81 earnings per share. The business's quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 112 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director owned 18,833 shares in the company, 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 firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 160,465 shares of company stock worth $8,020,511. 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: Analysts and market commentators highlighted Alphabet’s AI advantage, arguing that its control of Search, Android, YouTube, Google Cloud and its chip/model stack gives it one of the best paths to monetize AI at scale. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Google Cloud-related partnerships remain a tailwind, including Accenture’s launch of agentic AI solutions built with Alphabet’s Google Cloud for mid-market firms, reinforcing demand for its enterprise AI offerings. Accenture and Alphabet (GOOGL) Launch Agentic AI Solutions for Mid-Market Firms
• Positive Sentiment: Alphabet’s strong quarterly results and cloud growth continue to drive bullish takes, with investors pointing to revenue growth, AI spending efficiency, and improving profitability as reasons the stock could outperform. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Raymond James Financial reissued a "strong-buy" rating and issued a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. Finally, Zacks Research upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $376.19.

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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