J. Derek Lewis & Associates Inc. Acquires New Holdings in Alphabet Inc. $GOOG

Key Points

• J. Derek Lewis & Associates opened a new position in Alphabet during the fourth quarter, buying 5,415 shares valued at about $1.699 million.
• Alphabet’s recent quarterly results were strong, with EPS of $5.11 versus estimates of $2.68 and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share, while analysts remain broadly positive with an average rating of “Buy” and a consensus target price of $376.78.

J. Derek Lewis & Associates Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,415 shares of the information services provider's stock, valued at approximately $1,699,000.

Other large investors have also added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Imprint Wealth LLC purchased a new stake in Alphabet during the third quarter valued at $31,000. Bard Associates Inc. purchased a new stake in Alphabet during the fourth quarter valued at $41,000. Finally, Towne Trust Company N.A lifted its holdings in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after acquiring an additional 34 shares during the period. Institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $367.46 on Monday. The stock has a 50-day simple moving average of $364.31 and a two-hundred day simple moving average of $331.18. 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. The firm has a market capitalization of $4.45 trillion, a PE ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. The business's quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Scotiabank reissued an "outperform" rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Citigroup reiterated a "market outperform" rating on shares of Alphabet in a research note on Monday, June 1st. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Truist Financial set a $430.00 target price on shares of Alphabet in a research report on Monday, June 1st. Finally, Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $376.78.

Key Headlines 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

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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