Uhlmann Price Securities LLC Has $5.33 Million Position in Alphabet Inc. $GOOG

Key Points

• Uhlmann Price Securities LLC increased its Alphabet stake by 48.5% in the first quarter, buying 6,049 more shares and bringing its total holding to 18,512 shares worth about $5.33 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating expectations and revenue rising 21.8% year over year to $109.9 billion, helping offset some recent concerns.
• Sentiment around Alphabet is mixed: investors are worried about AI talent losses and heavy AI spending plans, even as the company continues investing through initiatives like its $75 million A24 AI research partnership.

Uhlmann Price Securities LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 48.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,512 shares of the information services provider's stock after buying an additional 6,049 shares during the quarter. Alphabet comprises about 0.4% of Uhlmann Price Securities LLC's holdings, making the stock its 7th largest position. Uhlmann Price Securities LLC's holdings in Alphabet were worth $5,326,000 at the end of the most recent reporting period.

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

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Negative Sentiment: Key AI researchers have left Alphabet for competitors, intensifying worries that the company is losing critical talent needed to lead in generative AI. Reuters: Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investors are also worried that Alphabet’s aggressive AI spending plans, including a large equity raise to fund infrastructure and compute, could dilute shareholders and pressure free cash flow. Quiver Quantitative: Alphabet Slides as AI Funding Plan Fuels Dilution Worries
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with A24, showing it is still investing in new AI use cases, but this was overshadowed by the talent-loss narrative. TechCrunch: Google DeepMind bets $75M on AI's future in Hollywood with A24 deal
• Neutral Sentiment: Recent fundamentals remain strong, with Alphabet’s latest quarter beating expectations on both earnings and revenue, which helps offset some of the negative sentiment. Alphabet stock page

Insider Activity

In other news, insider John Kent Walker sold 8,993 shares of the business's stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were 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 in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 160,516 shares of company stock worth $7,344,604. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $348.78 on Tuesday. The company's 50 day simple moving average is $364.96 and its two-hundred day simple moving average is $331.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The stock has a market capitalization of $4.23 trillion, a PE ratio of 26.60, a P/E/G ratio of 1.57 and a beta of 1.22.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $106.96 billion. During the same period in the previous year, the business earned $2.81 EPS. The business's revenue for the quarter was up 21.8% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOOG shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $435.00 price objective on shares of Alphabet in a research note on Tuesday, June 2nd. TD Cowen raised their price target on Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Truist Financial set a $430.00 price target on Alphabet in a research report on Monday, June 1st. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a "buy" rating in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. increased their price objective on Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $376.78.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.