Evolve Private Wealth LLC Raises Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Evolve Private Wealth LLC increased its Alphabet stake by 19% in the first quarter, buying 8,058 shares and bringing its total holding to 50,443 shares worth about $14.47 million.
• Alphabet recently delivered strong quarterly results, with EPS of $5.11 versus expectations of $2.68 and revenue of $109.9 billion, up 21.8% from a year earlier.
• The stock has drawn mixed signals: analysts remain generally bullish with a consensus Buy rating, while some investors are watching AI-related spending concerns and recent insider share sales.

Evolve Private Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,443 shares of the information services provider's stock after buying an additional 8,058 shares during the quarter. Alphabet comprises 0.8% of Evolve Private Wealth LLC's portfolio, making the stock its 19th biggest holding. Evolve Private Wealth LLC's holdings in Alphabet were worth $14,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOOG. Ring Mountain Capital LLC raised its stake in Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock worth $1,174,000 after acquiring an additional 30 shares during the period. Cannon Financial Strategists Inc. lifted its holdings in Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock valued at $499,000 after purchasing an additional 30 shares in the last quarter. HRC Wealth Management LLC lifted its holdings in Alphabet by 1.0% during the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock valued at $1,014,000 after purchasing an additional 31 shares in the last quarter. Certior Financial Group LLC boosted its position in shares of Alphabet by 3.5% in the fourth quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock worth $288,000 after purchasing an additional 31 shares during the period. Finally, Synergy Investment Management LLC boosted its position in shares of Alphabet by 0.8% in the fourth quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider's stock worth $1,294,000 after purchasing an additional 31 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, a move that should boost its visibility and could support index-fund demand. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average
• Positive Sentiment: Analysts continued to point to Alphabet’s strong AI infrastructure demand and Google Cloud growth as reasons for long-term upside. Alphabet Rides on Accelerating AI Infrastructure Demand: What's Ahead?
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with film studio A24, underscoring continued experimentation with new AI use cases. Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investor sentiment weakened after reports that another top AI scientist, John Jumper, left DeepMind for Anthropic, adding to fears of an AI brain drain. Google's YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Broader market coverage highlighted worries about Alphabet’s heavy AI capital spending and the dilution risk tied to its large equity raise, which has pressured the stock. Alphabet Slides as AI Funding Plan Fuels Dilution Worries

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 102 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the transaction, the director owned 18,721 shares in the company, valued at $7,132,701. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 160,516 shares of company stock valued at $7,344,604. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG opened at $346.55 on Wednesday. The stock has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.49 and a beta of 1.22. The company has a fifty day moving average of $365.57 and a 200 day moving average of $331.59. Alphabet Inc. has a fifty-two week low of $166.91 and a fifty-two week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company 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. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 6.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research report on Wednesday, May 20th. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a research note on Monday. Finally, Oppenheimer increased their target price 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-nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $376.78.

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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