Wealthfront Advisers LLC Has $180.67 Million Position in Alphabet Inc. $GOOG

Key Points

• Wealthfront Advisers LLC increased its Alphabet stake by 5.1% in the first quarter, ending with 629,806 shares valued at about $180.7 million.
• Alphabet continues to draw strong interest from other institutional investors, with several firms boosting holdings and 27.26% of the stock now owned by institutions and hedge funds.
• Analysts remain bullish ahead of earnings, citing Google Cloud growth, AI monetization potential, and strong Search momentum; the consensus rating is Buy with a target price of $383.44.

Wealthfront Advisers LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629,806 shares of the information services provider's stock after buying an additional 30,735 shares during the quarter. Wealthfront Advisers LLC's holdings in Alphabet were worth $180,666,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC boosted its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock valued at $330,886,000 after buying an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $658,000. Financial Advisors Network Inc. grew its stake in shares of Alphabet by 7.7% in the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock valued at $1,409,000 after buying an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its holdings in Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock worth $6,618,000 after buying an additional 3,616 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Citigroup reiterated a "market outperform" rating on shares of Alphabet in a report on Monday, June 22nd. UBS Group set a $430.00 price target on Alphabet in a research report on Thursday. Freedom Capital lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Truist Financial set a $430.00 price objective on Alphabet in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $383.44.

Insider Activity

In other news, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares of the company's stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 159,415 shares of company stock valued at $7,672,279. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $346.12 on Monday. The company has a market cap of $4.19 trillion, a P/E ratio of 26.40, a P/E/G ratio of 1.43 and a beta of 1.23. The firm's fifty day moving average price is $366.29 and its two-hundred day moving average price is $336.81. Alphabet Inc. has a one year low of $184.73 and a one year high of $404.47. 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 (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during 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%. Alphabet's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.81 EPS. Equities analysts expect that Alphabet Inc. will post 14.33 earnings per share for the current year.

Alphabet Increases Dividend

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

Alphabet 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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