GPS Wealth Strategies Group LLC Sells 13,528 Shares of Alphabet Inc. $GOOG

Key Points

• GPS Wealth Strategies Group LLC cut its Alphabet stake by 81.1% in the fourth quarter, selling 13,528 shares and leaving it with 3,161 shares worth about $992,000.
• Other institutions were mixed on Alphabet, with several slightly increasing holdings, while institutional investors overall own 27.26% of the stock and insiders own 12.99%.
• Alphabet reported strong quarterly results, beating EPS and revenue estimates, and it also raised its quarterly dividend to $0.22 per share from $0.21.

GPS Wealth Strategies Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 81.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,161 shares of the information services provider's stock after selling 13,528 shares during the quarter. Alphabet makes up about 0.8% of GPS Wealth Strategies Group LLC's holdings, making the stock its 28th biggest holding. GPS Wealth Strategies Group LLC's holdings in Alphabet were worth $992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC raised its holdings 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 valued at $1,174,000 after buying an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. raised its holdings in Alphabet by 1.9% during the 4th 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. HRC Wealth Management LLC increased its position in Alphabet by 1.0% during the 4th 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 during the period. Certior Financial Group LLC increased its position in Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock valued at $288,000 after purchasing an additional 31 shares during the period. Finally, Synergy Investment Management LLC increased its position in Alphabet by 0.8% during the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider's stock valued at $1,294,000 after purchasing an additional 31 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 225,516 shares of company stock worth $27,142,399. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $400.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Alphabet in a research report on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $378.50.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s planned $10 billion investment in Alphabet adds a major vote of confidence and helps validate the company’s AI expansion strategy. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
• Positive Sentiment: Analyst commentary said Google is a clear beneficiary as AI search grows, supporting the view that Alphabet can defend and extend its core search franchise even as AI competition intensifies. Google Is the Clear Beneficiary,” Says Top Analyst as AI Search Takes Off
• Neutral Sentiment: Alphabet’s ties to high-profile private AI names like Anthropic and SpaceX could give investors additional indirect exposure ahead of possible future IPOs, though this is more of a longer-term optionality story. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs: What That Means For Investors
• Negative Sentiment: The planned $80 billion capital raise may weigh on sentiment because it implies substantial spending needs and potential dilution, even if it strengthens Alphabet’s AI capacity. Alphabet plans to raise $80 billion to pay for AI buildout
• Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, potentially limiting Google’s access to some government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders

Alphabet Price Performance

GOOG opened at $372.58 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. The stock has a market capitalization of $4.51 trillion, a P/E ratio of 28.42, a P/E/G ratio of 1.61 and a beta of 1.25. The company's 50-day simple moving average is $344.61 and its two-hundred day simple moving average is $325.11. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter in the prior year, the business earned $2.81 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

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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