Griffin Asset Management Inc. Boosts Holdings in Alphabet Inc. $GOOG

Key Points

• Griffin Asset Management increased its Alphabet stake by 16.6% in the fourth quarter, buying 5,508 additional shares and bringing its total to 38,737 shares valued at about $12.16 million.
• Alphabet reported strong recent results, with Q1 EPS of $5.11 topping estimates and revenue of $109.9 billion rising 21.8% year over year, while Google Cloud showed particularly strong momentum.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, even as analysts maintained an overall Buy consensus and a price target near $372.65.

Griffin Asset Management Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,737 shares of the information services provider's stock after acquiring an additional 5,508 shares during the period. Alphabet accounts for 1.3% of Griffin Asset Management Inc.'s holdings, making the stock its 23rd biggest position. Griffin Asset Management Inc.'s holdings in Alphabet were worth $12,156,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Imprint Wealth LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Towne Trust Company N.A grew its stake in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after acquiring an additional 34 shares during the last quarter. Winnow Wealth LLC purchased a new stake in shares of Alphabet during the third quarter worth about $63,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Alphabet by 29.0% during the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider's stock worth $63,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a standout Q1 result, with revenue up 63% to $20 billion, margin reaching 32.9%, and backlog rising to $462 billion. That reinforces Alphabet’s growing second engine beyond search and supports the bull case for further upside. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Google Cloud is also getting validation from new enterprise partnerships, including EQT’s rollout to help more than 300 portfolio companies adopt AI using Google Cloud tools. Private equity firm EQT partners with Google Cloud for AI rollout
• Positive Sentiment: Waymo news continues to suggest Alphabet’s autonomous-driving business may be undervalued, with the new Ojai robotaxi designed to lower fleet costs and expand capacity. That strengthens the long-term optionality in Alphabet’s non-advertising businesses. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet
• Positive Sentiment: Commentary from Jim Cramer was supportive, calling Alphabet a “crucial position” and saying “there’s a lot to like here,” which can help reinforce bullish sentiment among retail investors. Jim Cramer on Alphabet: “There’s a Lot to Like Here”
• Neutral Sentiment: Shares were also mentioned in analyst-style and market commentary framing Alphabet as a core AI and cloud beneficiary, but these pieces were largely reiterations rather than new catalysts.
• Negative Sentiment: An Indian court ruling on keyword ads could increase trademark and legal risk for Google’s search advertising business, raising concerns about a core profit driver. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: News that a Google engineer was charged in a $1.2 million Polymarket insider-trading case may create a modest reputational overhang, even though it is not a direct business or financial issue for Alphabet. US charges Google engineer with insider trading on Polymarket

Alphabet Stock Down 2.5%

GOOG stock opened at $376.43 on Friday. The firm's fifty day simple moving average is $343.28 and its 200-day simple moving average is $324.30. The company has a market capitalization of $4.56 trillion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS 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 the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.81 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.41%.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the completion of the transaction, the director directly owned 18,621 shares in the company, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 226,481 shares of company stock worth $27,422,061 in the last three months. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. Truist Financial set a $385.00 price target on shares of Alphabet in a research note on Wednesday, April 22nd. Sanford C. Bernstein restated a "market perform" rating and set a $345.00 price target on shares of Alphabet in a research note on Thursday, February 5th. UBS Group restated a "neutral" rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Raymond James Financial restated a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a research note on Thursday, April 30th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $372.65.

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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