Evolve Private Wealth LLC Buys New Position in Alphabet Inc. $GOOG

Key Points

• Evolve Private Wealth LLC initiated a new position in Alphabet during the fourth quarter, buying 42,385 shares valued at about $13.3 million. Alphabet now ranks as the firm’s 19th-largest holding and makes up 0.8% of its portfolio.
• Institutional interest remains strong, with 27.26% of Alphabet shares held by hedge funds and other institutional investors. Recent filings also showed large additions from firms including J. Stern & Co. LLP, Norges Bank, and Vanguard.
• Wall Street sentiment is still bullish despite some caution on AI spending and valuation, with Alphabet carrying an average “Buy” rating and an average price target of $376.78. The company also beat quarterly earnings expectations, reporting $5.11 EPS on $109.90 billion in revenue.

Evolve Private Wealth LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 42,385 shares of the information services provider's stock, valued at approximately $13,300,000. Alphabet accounts for 0.8% of Evolve Private Wealth LLC's holdings, making the stock its 19th biggest position.

Several other hedge funds have also modified their holdings of GOOG. J. Stern & Co. LLP raised its holdings in shares of Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after buying an additional 111,699,704 shares during the period. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter valued at about $18,093,665,000. Cardano Risk Management B.V. raised its holdings in shares of Alphabet by 850.3% during the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider's stock valued at $5,551,938,000 after buying an additional 15,830,754 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after buying an additional 8,128,234 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock valued at $24,240,469,000 after buying an additional 7,904,434 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. Pivotal Research reiterated a "buy" rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Oppenheimer raised their price objective on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a "buy" rating in a research note on Friday, March 13th. Scotiabank restated an "outperform" rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned 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 $376.78.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Negative Sentiment: Britain’s competition watchdog set new requirements for Google Search, demanding greater transparency in ranking results and fairer treatment for businesses, adding to global regulatory scrutiny that could pressure Alphabet’s core search business. UK regulator sets out conduct requirements for Google's search services
• Negative Sentiment: Analyst commentary remains cautious, with concerns about Alphabet’s high AI spending, heavy capital expenditures, competition, and valuation limiting enthusiasm despite strong growth prospects. AI Spending Is Strengthening the Alphabet (GOOGL) Bull Case
• Neutral Sentiment: Alphabet showcased more AI momentum at the G7, where Google DeepMind’s Demis Hassabis backed a U.S.-led AI coalition, reinforcing the company’s influence in frontier AI policy and investment discussions. CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
• Neutral Sentiment: Google also launched Android 17 and a new Gemini-focused smart speaker, highlighting ongoing product innovation that could support long-term ecosystem growth but is not an immediate earnings catalyst. Google bets on Gemini to reinvent the smart home speaker
• Positive Sentiment: HSBC expanded its partnership with Google Cloud to grow AI usage, a sign that Alphabet’s cloud and enterprise AI business continues to gain traction with major customers. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Alphabet is also expanding its physical and digital footprint, including a $1.5 billion Alabama data center investment and new Google-supported initiatives, which support the company’s AI infrastructure buildout. Alphabet (GOOGL) to Spend $1.5 Billion Expanding Alabama Data Center

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $362.10 on Thursday. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The business has a 50 day moving average price of $361.98 and a two-hundred day moving average price of $330.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.39 trillion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22.

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, beating analysts' consensus estimates of $2.68 by $2.43. The firm 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 quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.81 EPS. Sell-side analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.71%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 159,466 shares of company stock worth $6,957,543. 12.99% of the stock is currently owned by insiders.

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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