Axxcess Wealth Management LLC Sells 14,856 Shares of Alphabet Inc. $GOOG

Key Points

• Axxcess Wealth Management LLC cut its Alphabet stake by 12.4% in the first quarter, selling 14,856 shares and leaving it with 104,602 shares worth about $27.9 million.
• Insiders also sold shares, including John Kent Walker and John L. Hennessy; overall, insiders sold 160,465 shares valued at about $8.0 million over the last 90 days.
• Alphabet reported strong quarterly results, with EPS of $5.11 and revenue of $109.9 billion, both ahead of expectations, while also raising its quarterly dividend to $0.22 per share.

Axxcess Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,602 shares of the information services provider's stock after selling 14,856 shares during the period. Alphabet comprises 0.9% of Axxcess Wealth Management LLC's holdings, making the stock its 28th largest holding. Axxcess Wealth Management LLC's holdings in Alphabet were worth $27,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock valued at $330,886,000 after buying an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Alphabet in the second quarter valued at about $658,000. Financial Advisors Network Inc. raised its stake in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock worth $1,409,000 after acquiring an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. lifted its holdings in shares of Alphabet by 10.7% in the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock worth $6,618,000 after acquiring an additional 3,616 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, 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 completion of the sale, the insider owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares in the company, valued at $995,341.06. This trade represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock valued at $8,020,511 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.3%

NASDAQ GOOG traded down $1.21 on Friday, hitting $355.03. The company's stock had a trading volume of 11,607,032 shares, compared to its average volume of 21,891,652. The company's 50-day moving average is $369.81 and its 200 day moving average is $335.21. The firm has a market cap of $4.30 trillion, a PE ratio of 27.08, a PEG ratio of 1.52 and a beta of 1.23. Alphabet Inc. has a 1-year low of $177.54 and a 1-year high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The company had revenue of $109.90 billion for 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%. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.81 earnings per share. As a group, analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business 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 represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Several pieces highlighted Alphabet’s durable AI and cloud execution, including commentary that its distribution across Search, Android, YouTube, and Google Cloud gives it an edge in monetizing AI better than many rivals.
• Positive Sentiment: Analysts and market commentary remained constructive, with Zacks upgrading Alphabet to “strong-buy,” and multiple reports saying the stock still looks undervalued after its strong rally and may have further upside from current levels.
• Positive Sentiment: Alphabet’s cloud and AI ecosystem continues to draw positive coverage, including a new agentic AI collaboration with Accenture and reports that digital demand and data-center growth could support the business in the second half of 2026.
• Positive Sentiment: Long-term confidence also got a boost from comments that Alphabet could be a winner in the AI race due to its massive distribution footprint and ability to turn AI spending into real returns.
• Neutral Sentiment: Alphabet’s search product set a record for queries per second during the World Cup, reinforcing the strength of its core franchise, though this is more of a usage signal than a direct earnings catalyst.
• Neutral Sentiment: Waymo’s plan to expand driverless rides to more cities supports Alphabet’s optionality in autonomous vehicles, but the impact on near-term stock performance is likely limited.
• Negative Sentiment: News that Google and OpenAI provided AI model access to Singapore-based affiliates of Chinese firms has renewed policy and export-control concerns, which could raise regulatory risk around AI distribution.
• Negative Sentiment: Alphabet is also facing more scrutiny abroad, including the UK bringing Google cloud services under direct oversight and an ongoing legal fight in India over its ads platform.
• Negative Sentiment: Some traders remain cautious about competition, with reports suggesting Meta could challenge Google’s AI leadership and that Alphabet’s recent price action has lagged broader tech at times.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. TD Cowen boosted their target price on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Truist Financial set a $430.00 price target on Alphabet in a research note on Monday, June 1st. Citigroup reissued a "market outperform" rating on shares of Alphabet in a report on Monday, June 22nd. Finally, Oppenheimer boosted their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of "Buy" and an average price target of $378.53.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

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.