Axxcess Wealth Management LLC Has $512.67 Million Stake in Alphabet Inc. $GOOG

Key Points

• Axxcess Wealth Management dramatically increased its Alphabet stake by 1,658.6% in Q4, ending with 1,757,428 shares worth about $512.7 million. Alphabet now makes up about 2% of the firm’s portfolio and is its ninth-largest holding.
• Alphabet’s latest quarterly results beat expectations, with EPS of $5.11 versus $2.68 estimated 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.
• Wall Street remains broadly bullish on GOOG, with several analysts reaffirming buy ratings and Oppenheimer lifting its price target to $445. The stock has also been supported by optimism around Google Cloud growth and Waymo’s long-term potential, though there are some legal and reputational risks noted in recent headlines.

Axxcess Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1,658.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,757,428 shares of the information services provider's stock after purchasing an additional 1,657,495 shares during the period. Alphabet comprises about 2.0% of Axxcess Wealth Management LLC's investment portfolio, making the stock its 9th biggest position. Axxcess Wealth Management LLC's holdings in Alphabet were worth $512,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ring Mountain Capital LLC increased its position in Alphabet by 0.9% in the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock valued at $1,174,000 after acquiring an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. increased its position in Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock valued at $499,000 after acquiring an additional 30 shares in the last quarter. HRC Wealth Management LLC increased its position in Alphabet by 1.0% in the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock valued at $1,014,000 after acquiring an additional 31 shares in the last quarter. Certior Financial Group LLC increased its position in Alphabet by 3.5% in the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock valued at $288,000 after acquiring an additional 31 shares in the last quarter. Finally, Synergy Investment Management LLC increased its position in Alphabet by 0.8% in the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider's stock valued at $1,294,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

Shares of GOOG opened at $376.43 on Monday. The company has a market cap of $4.56 trillion, a price-to-earnings ratio of 28.71, a PEG ratio of 1.61 and a beta of 1.23. Alphabet Inc. has a 1-year low of $163.33 and a 1-year high of $404.47. The company's fifty day simple moving average is $343.28 and its 200 day simple moving average is $324.54. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $106.96 billion. During the same period in the previous year, the company earned $2.81 earnings per share. The company's quarterly revenue was up 21.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares of the company's stock, valued at $505,573,853.40. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 226,369 shares of company stock valued at $27,388,127 in the last three months. Insiders own 12.99% of the company's stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a standout Q1 result, with revenue up 63% to $20 billion, margin reaching 32.9%, and backlog rising to $462 billion. That reinforces Alphabet’s growing second engine beyond search and supports the bull case for further upside. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Google Cloud is also getting validation from new enterprise partnerships, including EQT’s rollout to help more than 300 portfolio companies adopt AI using Google Cloud tools. Private equity firm EQT partners with Google Cloud for AI rollout
• Positive Sentiment: Waymo news continues to suggest Alphabet’s autonomous-driving business may be undervalued, with the new Ojai robotaxi designed to lower fleet costs and expand capacity. That strengthens the long-term optionality in Alphabet’s non-advertising businesses. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet
• Positive Sentiment: Commentary from Jim Cramer was supportive, calling Alphabet a “crucial position” and saying “there’s a lot to like here,” which can help reinforce bullish sentiment among retail investors. Jim Cramer on Alphabet: “There’s a Lot to Like Here”
• Neutral Sentiment: Shares were also mentioned in analyst-style and market commentary framing Alphabet as a core AI and cloud beneficiary, but these pieces were largely reiterations rather than new catalysts.
• Negative Sentiment: An Indian court ruling on keyword ads could increase trademark and legal risk for Google’s search advertising business, raising concerns about a core profit driver. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: News that a Google engineer was charged in a $1.2 million Polymarket insider-trading case may create a modest reputational overhang, even though it is not a direct business or financial issue for Alphabet. US charges Google engineer with insider trading on Polymarket

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOG shares. Oppenheimer lifted their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. TD Cowen reissued a "buy" rating on shares of Alphabet in a research note on Thursday, May 21st. BMO Capital Markets reissued an "outperform" rating and set a $400.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Finally, DZ Bank raised shares of Alphabet to a "strong-buy" rating in a research note on Monday, February 16th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Buy" and an average price target of $372.65.

About Alphabet

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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