Green Ridge Wealth Planning LLC Makes New $2.20 Million Investment in Alphabet Inc. $GOOG

Key Points

• Green Ridge Wealth Planning LLC opened a new position in Alphabet, buying 7,003 shares worth about $2.2 million in the fourth quarter. Alphabet now makes up roughly 1.1% of the firm’s holdings.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus estimates of $2.68 and revenue of $109.9 billion versus expectations of $106.96 billion. Revenue rose 21.8% year over year, and analysts still expect $14.3 EPS for the current fiscal year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly bullish with an average Buy rating and an average price target of $376.78. Several firms recently lifted their targets, including TD Cowen and JPMorgan.

Green Ridge Wealth Planning LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,003 shares of the information services provider's stock, valued at approximately $2,198,000. Alphabet comprises approximately 1.1% of Green Ridge Wealth Planning LLC's holdings, making the stock its 22nd biggest holding.

Several other hedge funds also recently modified their holdings of GOOG. Auto Owners Insurance Co raised its stake in Alphabet by 38,409.2% during the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP grew its position in Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Norges Bank acquired a new stake in Alphabet in the 4th quarter worth $18,093,665,000. Cardano Risk Management B.V. increased 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 worth $5,551,938,000 after purchasing an additional 15,830,754 shares during the period. Finally, Vanguard Group Inc. increased 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 worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOG opened at $367.46 on Monday. The company has a 50-day moving average of $364.31 and a 200-day moving average of $331.18. The company has a market capitalization of $4.45 trillion, a price-to-earnings ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a 52 week low of $163.33 and a 52 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 issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm's revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $38,862.00. Following the transaction, the director owned 18,721 shares of the company's stock, valued at $7,132,701. This trade represents a 0.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 160,516 shares of company stock valued at $7,344,604. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOG. Raymond James Financial reiterated a "strong-buy" rating and issued a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Scotiabank restated 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. TD Cowen upped their price target on Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. raised their price objective on Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $435.00 price objective on shares of Alphabet in a report on Tuesday, June 2nd. Five research 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average 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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