NewEdge Advisors LLC Grows Stake in Alphabet Inc. $GOOG

Key Points

• NewEdge Advisors increased its Alphabet stake by 7.4% during the first quarter, owning 715,045 shares valued at approximately $205.1 million. Institutional investors collectively own 27.26% of Alphabet.
• Alphabet reported strong quarterly results, with revenue up 24.2% year over year to $119.8 billion and earnings per share of $9.11, far exceeding the $2.87 analyst consensus.
• Analysts maintain a broadly bullish view, giving Alphabet a consensus “Buy” rating and an average price target of $410.09, while insiders sold roughly $16.3 million of stock over the past quarter.

NewEdge Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 715,045 shares of the information services provider's stock after acquiring an additional 49,018 shares during the quarter. Alphabet comprises approximately 0.7% of NewEdge Advisors LLC's portfolio, making the stock its 22nd biggest position. NewEdge Advisors LLC's holdings in Alphabet were worth $205,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Imprint Wealth LLC bought a new position in shares of Alphabet in the third quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet in the 4th quarter worth approximately $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter valued at approximately $41,000. Finally, Towne Trust Company N.A lifted its position in Alphabet by 34.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 600,547 shares of company stock valued at $16,255,540. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG opened at $360.13 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a one year low of $194.47 and a one year high of $404.47. The firm has a market capitalization of $4.40 trillion, a P/E ratio of 18.09, a PEG ratio of 1.05 and a beta of 1.23. The business has a fifty day moving average of $354.99 and a 200 day moving average of $338.67.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.Alphabet's revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is 4.42%.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a report on Friday, July 17th. Freedom Capital raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 price objective on Alphabet in a research report on Thursday, July 23rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Finally, DA Davidson decreased their target price on Alphabet from $375.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Buy" and a consensus price target of $410.09.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly discussing a potential deal exceeding $1.5 billion with AI coding-agent startup Mechanize. The arrangement could include hiring employees and licensing technology, strengthening Google’s coding-AI capabilities while addressing talent shortages. Google Mechanize deal article
• Positive Sentiment: Alphabet’s recent operating backdrop remains strong: second-quarter revenue reached $119.8 billion, up roughly 24% year over year, while Google Cloud growth and a large backlog support continued AI investment. Analysts cited in the coverage maintain generally bullish long-term views. Alphabet backlog article
• Positive Sentiment: Alphabet recently began selling its custom Tensor Processing Units directly to customers, creating a potential new AI-chip revenue stream alongside its cloud and advertising businesses. Alphabet AI chip article
• Neutral Sentiment: DeepMind CEO Demis Hassabis is moving into Alphabet’s chief scientist role, with the company emphasizing AI safety and long-term research. The shift could improve coordination across research efforts, but investors are uncertain about its near-term effect on product execution. Reuters AI leadership article
• Negative Sentiment: Chief scientist Jeff Dean and researchers including Oriol Vinyals, Quoc Le and Sanjay Ghemawat are leaving to form Discovery Loop, an AI-for-science startup backed by Google. The departures intensified fears of a talent drain and disruption to Gemini and other AI initiatives. CNBC Jeff Dean departure article
• Negative Sentiment: The leadership overhaul comes while the next major Gemini release remains delayed, increasing concern that Alphabet may be falling behind rivals in rapidly advancing AI models. Alphabet AI leadership concerns article
• Negative Sentiment: A U.K. tribunal allowed a $6.7 billion advertiser class action alleging Google abused its market position to proceed, adding legal and potential financial risk. UK advertiser class action article

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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