Modera Wealth Management LLC Sells 34,234 Shares of Alphabet Inc. $GOOG

Key Points

• Modera Wealth Management reduced its Alphabet stake by 9.3% in the first quarter, selling 34,234 shares and leaving it with 333,660 shares valued at about $95.7 million.
• Alphabet’s latest earnings were strong, with EPS of $5.11 beating estimates and revenue of $109.9 billion topping forecasts, while quarterly revenue rose 21.8% year over year.
• The company recently raised its quarterly dividend to $0.22 per share, and analysts remain mostly bullish with a consensus rating of Buy and an average price target of $383.44.

Modera Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 333,660 shares of the information services provider's stock after selling 34,234 shares during the period. Alphabet makes up 1.1% of Modera Wealth Management LLC's investment portfolio, making the stock its 22nd largest holding. Modera Wealth Management LLC's holdings in Alphabet were worth $95,714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter valued at $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. 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. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were 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 in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company's stock, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 159,415 shares of company stock worth $7,672,279 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ GOOG opened at $351.37 on Tuesday. The business's fifty day moving average is $365.58 and its 200 day moving average is $337.07. Alphabet Inc. has a fifty-two week low of $187.05 and a fifty-two 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 company has a market capitalization of $4.26 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.43 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. Sell-side analysts predict that Alphabet Inc. will post 14.33 earnings per share 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 0.3%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group set a $430.00 price target on Alphabet in a research note on Thursday. Truist Financial set a $430.00 price objective on shares of Alphabet in a research note on Monday, June 1st. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Raymond James Financial restated a "strong-buy" rating and set a $425.00 target price on shares of Alphabet in a research report on Thursday, April 30th. Finally, Freedom Capital cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus target price of $383.44.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is developing a new AI server chip, “Frozen v2,” designed to run its Gemini models more efficiently, which suggests lower inference costs and stronger AI margins. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Several analysts and market commentators remain bullish ahead of earnings, citing strong Search and Google Cloud growth, along with expectations that Alphabet can beat or at least support current high valuations. Zacks: Can Strong Search and Cloud Growth Drive GOOGL's Q2 Earnings?
• Positive Sentiment: Investor attention is also being lifted by Berkshire Hathaway’s large Alphabet stake and comments from Warren Buffett, which reinforce confidence in Alphabet as a durable AI and core internet franchise. Motley Fool: Warren Buffett Said He Personally Started Berkshire's Alphabet Position
• Neutral Sentiment: With Alphabet set to report on July 22, options traders and analysts expect a sizable post-earnings move, underscoring that the stock may stay volatile into the print. Investopedia: Here's How Much Google Parent Alphabet's Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Broader market focus on geopolitical risks and Big Tech earnings is adding a wait-and-see tone, but this is more of a backdrop than a direct driver for Alphabet. Yahoo Finance: US stocks edge down with Iran and earnings season in focus
• Negative Sentiment: New securities-fraud investigations disclosed by law firms could create some overhang, although these are early-stage and not yet tied to any specific financial impact. GlobeNewswire: Securities Fraud Investigation Into Alphabet Inc. Continues

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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