Calamos Advisors LLC Acquires 77,797 Shares of Alphabet Inc. $GOOG

Calamos Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001,871 shares of the information services provider's stock after purchasing an additional 77,797 shares during the period. Alphabet makes up approximately 1.0% of Calamos Advisors LLC's portfolio, making the stock its 11th biggest holding. Calamos Advisors LLC's holdings in Alphabet were worth $287,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock worth $330,886,000 after buying an additional 806,681 shares during the period. Darwin Wealth Management LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $658,000. Financial Advisors Network Inc. grew its position in shares of Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock worth $1,409,000 after buying an additional 565 shares during the last quarter. Finally, Ausdal Financial Partners Inc. grew its position in shares of Alphabet by 10.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock worth $6,618,000 after buying an additional 3,616 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen upped their target price on Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Freedom Capital cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. UBS Group set a $430.00 target price on Alphabet in a research report on Thursday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $425.00 target price on shares of Alphabet in a research report on Thursday, April 30th. Finally, Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $383.44.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Alphabet Trading Down 2.2%

Shares of NASDAQ:GOOG opened at $346.12 on Friday. The stock has a 50 day moving average of $366.29 and a 200 day moving average of $336.65. The company has a market cap of $4.19 trillion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. Alphabet Inc. has a 12-month low of $184.73 and a 12-month high of $404.47. 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 issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This is an increase from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is 6.71%.

Insider Activity

In other news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction on Monday, June 29th. The stock was 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 of the company's stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 159,415 shares of company stock valued at $7,672,279. Company insiders own 12.99% of the company's stock.

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.

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