Platform Wealth Management LLC Purchases New Holdings in Alphabet Inc. $GOOG

Key Points

• Platform Wealth Management LLC opened a new position in Alphabet during the fourth quarter, buying 82,118 shares valued at about $25.8 million. The stake now represents roughly 6.9% of its portfolio and is its third-largest holding.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus the $2.68 consensus estimate and revenue of $109.9 billion, topping expectations. Revenue rose 21.8% year over year, and analysts now expect full-year EPS of 14.29.
• The company raised its quarterly dividend to $0.22 per share from $0.21, equal to an annualized payout of $0.88 and a yield of about 0.2%. Meanwhile, analyst sentiment remains constructive, with an average rating of Buy and an average target price of $376.78.

Platform Wealth Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 82,118 shares of the information services provider's stock, valued at approximately $25,769,000. Alphabet accounts for approximately 6.9% of Platform Wealth Management LLC's portfolio, making the stock its 3rd largest position.

A number of other large investors also recently bought and sold shares of GOOG. Imprint Wealth LLC purchased a new position in Alphabet during the 3rd quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in Alphabet during the 4th quarter valued at about $38,000. Towne Trust Company N.A lifted its position in Alphabet by 34.0% during 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 during the period. CBIZ Investment Advisory Services LLC lifted its position in Alphabet by 29.0% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider's stock valued at $63,000 after acquiring an additional 58 shares during the period. Finally, Creative Capital Management Investments LLC lifted its position in Alphabet by 1,438.5% during the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider's stock valued at $63,000 after acquiring an additional 187 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 2.5%

Shares of Alphabet stock opened at $353.32 on Thursday. The company has a 50-day simple moving average of $355.05 and a two-hundred day simple moving average of $328.84. 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 stock has a market capitalization of $4.28 trillion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. Alphabet Inc. has a 52-week low of $163.33 and a 52-week 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 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same period in the previous year, the company earned $2.81 earnings per share. The firm's quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's payout ratio is presently 6.71%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 193,016 shares of company stock worth $17,282,549 in the last 90 days. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent analyst reports. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a report on Monday, February 16th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Oppenheimer lifted their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $425.00 target price on shares of Alphabet in a report on Thursday, April 30th. Finally, Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the stock a "buy" rating in a report on Friday, March 13th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of "Buy" and an average target price of $376.78.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is expanding Gemini with new tools aimed at small businesses, which could help broaden adoption and monetize AI services. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Alphabet’s support for Anthropic’s $35 billion AI infrastructure financing deal reinforces its central role in AI buildout and could boost cloud demand. Google Backs $35 Billion Anthropic AI Infrastructure Financing Deal
• Positive Sentiment: Reports that Gemini monthly users have doubled highlight strong product momentum and strengthen the long-term AI growth story. Alphabet Inc. (GOOGL) Reports Doubling of Gemini App Monthly Users to 900 Million
• Neutral Sentiment: Google’s reported $920 million-per-month AI compute deal with SpaceX may support future growth, but it also signals rising infrastructure spending and AI competition costs. Google's $920 Million-a-Month Deal Could Supercharge the SpaceX IPO
• Negative Sentiment: A fire at a third-party data center caused intermittent Google Cloud disruptions in India, which could raise reliability concerns for some customers. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Google’s request for a new trial in the youth social media addiction case, leaving legal liability concerns in place. Meta and Google denied new trial after landmark verdict in youth social media addiction case

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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