Sovran Advisors LLC Boosts Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Sovran Advisors LLC increased its Alphabet stake by 24.7% in the first quarter, buying 6,812 additional shares and bringing its total to 34,384 shares valued at about $9.86 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 topping estimates by $2.43 and revenue of $109.9 billion also beating expectations. Revenue rose 21.8% year over year, underscoring continued growth momentum.
• The company raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly positive with an average rating of “Buy” and a price target of $378.53.

Sovran Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,384 shares of the information services provider's stock after buying an additional 6,812 shares during the period. Alphabet makes up approximately 0.8% of Sovran Advisors LLC's holdings, making the stock its 28th largest holding. Sovran Advisors LLC's holdings in Alphabet were worth $9,863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nvest Wealth Strategies Inc. bought a new position in Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $31,000. Bard Associates Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $41,000. Finally, Towne Trust Company N.A boosted 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 valued at $42,000 after purchasing an additional 34 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

GOOG opened at $370.21 on Thursday. 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 $4.49 trillion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. The stock's 50 day moving average price is $368.14 and its 200-day moving average price is $336.31. Alphabet Inc. has a 52-week low of $181.50 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

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

Insider Activity

In related news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research report on Monday, June 22nd. Zacks Research raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. Finally, Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $378.53.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he personally initiated Berkshire Hathaway’s purchase of Alphabet, giving the stock a high-profile vote of confidence and reinforcing the view that GOOG remains attractive ahead of earnings. Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Several analysts and market articles said Alphabet’s AI-driven search, cloud growth, and improving earnings outlook could support another results beat, keeping investor sentiment constructive. Alphabet Inc. (GOOG) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: Alphabet’s large clean-power purchase and ongoing AI infrastructure investment signal continued support for long-term cloud and AI expansion, which investors may view as a strength. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
• Neutral Sentiment: Alphabet continues to receive favorable brokerage and valuation commentary, with some coverage highlighting strong AI monetization but noting the stock is already pricing in a lot of optimism. GOOGL Stock: Do AI Growth Drivers Justify the Premium Valuation?
• Negative Sentiment: The EU is preparing new fines against Google, adding to regulatory overhang and reminding investors that antitrust risk remains a key issue for the stock. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google also faced fresh scrutiny from Swiss regulators and new AI-related criticism and lawsuits, which could pressure sentiment around its core search and AI businesses. Google probed by Swiss regulator over Android default search feature

About Alphabet

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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