Fideuram Intesa Sanpaolo Private Banking S.P.A. Boosts Stake in Alphabet Inc. $GOOG

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its Alphabet stake by 12.4% in the first quarter, buying 9,219 shares and bringing its total to 83,732 shares worth about $24.0 million.
• Alphabet reported a strong quarter, with EPS of $5.11 versus estimates of $2.68 and revenue of $109.9 billion, up 21.8% year over year.
• Analysts remain generally bullish on GOOG, with a consensus rating of “Buy” and a consensus price target of $376.19, while recent commentary has highlighted Alphabet’s AI and cloud momentum.

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,732 shares of the information services provider's stock after buying an additional 9,219 shares during the quarter. Alphabet comprises 0.8% of Fideuram Intesa Sanpaolo Private Banking S.P.A.'s investment portfolio, making the stock its 23rd biggest holding. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Alphabet were worth $24,019,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC boosted 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 purchasing an additional 30 shares during the period. Cannon Financial Strategists Inc. raised its holdings in shares of Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock valued at $499,000 after buying an additional 30 shares during the last quarter. Financial Enhancement Group LLC raised its holdings in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider's stock valued at $380,000 after buying an additional 30 shares during the last quarter. HRC Wealth Management LLC boosted its stake in shares of Alphabet by 1.0% during the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock worth $1,014,000 after buying an additional 31 shares during the period. Finally, Certior Financial Group LLC grew its holdings in shares of Alphabet by 3.5% during the fourth quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock worth $288,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of the firm's 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 transaction, the director directly owned 1,481 shares of the company's stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on GOOG. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a research note on Monday, June 22nd. Pivotal Research reaffirmed a "buy" rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Wells Fargo & Company set a $416.00 price objective on shares of Alphabet in a research note on Thursday. The Goldman Sachs Group restated a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Finally, Scotiabank reiterated an "outperform" rating and set a $450.00 price target (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $376.19.

Alphabet Price Performance

Alphabet stock opened at $364.90 on Tuesday. 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 Inc. has a one year low of $173.88 and a one year high of $404.47. The company has a market cap of $4.42 trillion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23. The business has a fifty day moving average of $368.31 and a two-hundred day moving average of $333.49.

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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter last year, the firm posted $2.81 EPS. The business's revenue was up 21.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio is presently 6.71%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is drawing renewed bullish attention after multiple articles highlighted its strong AI positioning, including new AI model launches and commentary that the stock remains attractive as a long-term AI winner. Google Just Launched 2 New AI Models. What That Means for GOOGL Stock.
• Positive Sentiment: Investor optimism is also being reinforced by Alphabet’s cloud momentum, with coverage noting that Google Cloud revenue growth and a very large backlog continue to support the company’s AI and enterprise growth story. Alphabet Stock Has Doubled in a Year. Is It Too Late to Buy?
• Positive Sentiment: Alphabet also got a boost from media and pundit commentary, including CNBC “Final Trades” mention and other bullish pieces that framed GOOG as a favored AI holding. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC's ‘Final Trades’
• Neutral Sentiment: Reports that Google is expanding AI training to include more user-uploaded media could help its models, but they also raise privacy questions that may keep investors cautious. If you use Google, you're training its AI. Here's how to opt out.
• Neutral Sentiment: Coverage about employee departures and a softer “dream job” reputation points to some internal AI talent pressure, but it is not yet a clear earnings threat. Google's status as the dream tech job is changing. FOMO over AI salaries is only one reason why.
• Negative Sentiment: Waymo’s robotaxi hiccups during San Francisco July 4 traffic are a reminder that Alphabet’s “Other Bets” unit still faces execution risk, though the impact on the core business appears limited. Waymo says some of its robotaxis ran out of power during San Francisco's July 4 gridlock and had to be towed

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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