Traveka Wealth LLC Purchases 4,434 Shares of Alphabet Inc. $GOOG

Key Points

• Traveka Wealth LLC increased its Alphabet stake by 76.3% in the first quarter, buying 4,434 additional shares and bringing its total holding to 10,247 shares valued at about $2.94 million.
• Several major institutional investors also added to or maintained large positions in GOOG, and overall institutional ownership stands at 27.26% of the stock.
• Wall Street remains bullish on Alphabet, with analysts assigning a consensus “Buy” rating and an average price target of $376.78, while the company recently beat quarterly earnings and revenue estimates.

Traveka Wealth LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 76.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,247 shares of the information services provider's stock after purchasing an additional 4,434 shares during the period. Alphabet accounts for 1.1% of Traveka Wealth LLC's portfolio, making the stock its 23rd largest holding. Traveka Wealth LLC's holdings in Alphabet were worth $2,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Vanguard Group Inc. increased its position in Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock worth $132,114,125,000 after buying an additional 8,128,234 shares during the last quarter. State Street Corp lifted its position in shares of Alphabet by 0.5% in the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock valued at $58,712,878,000 after buying an additional 953,790 shares during the last quarter. Auto Owners Insurance Co boosted its stake in shares of Alphabet by 38,409.2% during the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock worth $5,643,262,000 after acquiring an additional 179,369,280 shares during the period. J. Stern & Co. LLP boosted its stake in shares of Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after acquiring an additional 111,699,704 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock worth $31,569,189,000 after acquiring an additional 1,073,151 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial set a $430.00 price target on Alphabet in a research note on Monday, June 1st. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Raymond James Financial restated a "strong-buy" rating and set a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Finally, 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. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $376.78.

Alphabet Stock Performance

GOOG opened at $353.33 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business has a fifty day simple moving average of $366.98 and a 200 day simple moving average of $332.53. Alphabet Inc. has a 1 year low of $173.88 and a 1 year high of $404.47. The company has a market capitalization of $4.28 trillion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22.

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

Alphabet Increases Dividend

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

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, prompting a stock lift as passive funds and blue-chip investors rebalance into the shares. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google launched Nano Banana 2 Lite and Gemini Omni, cheaper and faster AI image/video models that could strengthen its AI product lineup and improve adoption. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet announced a strategic partnership with Google Cloud to build AI-powered financial intelligence tools, adding validation for Google Cloud’s enterprise AI push. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Visa and Google signed on to use OpenUSD for money movement, suggesting additional ecosystem relevance in digital payments and infrastructure. PYMNTS: Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Several reports highlighted continued bullish analyst views and higher price targets, which support sentiment but are not new fundamental changes by themselves.
• Negative Sentiment: Investors are still worried about Alphabet’s heavy AI spending, with reports noting massive compute-capacity plans and the risk that capital expenditures may weigh on near-term margins. Yahoo Finance: If You Think Alphabet’s AI Spending Is High Now, Just Wait for 2028
• Negative Sentiment: UK regulators opened a consultation aimed at loosening app-store payment restrictions, a potential pressure point for Google’s app marketplace economics. TechXplore: UK targets Apple, Google app store fees for developers
• Negative Sentiment: Recent insider sales, including by director Frances Arnold and CAO Marsida Saraci, may add a small cautionary note even though the sales were modest. SEC filing: Alphabet insider transaction

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,467 shares of company stock worth $4,877,600 over the last quarter. Company insiders own 12.99% of the company's stock.

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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