Evolve Private Wealth LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) in the fourth quarter, Holdings Channel reports. The fund acquired 42,385 shares of the information services provider’s stock, valued at approximately $13,300,000. Alphabet accounts for 0.8% of Evolve Private Wealth LLC’s investment portfolio, making the stock its 19th biggest holding.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. acquired a new position in Alphabet during the 4th quarter valued at approximately $38,000. Imprint Wealth LLC acquired a new position in Alphabet during the 3rd quarter valued at approximately $31,000. Bard Associates Inc. acquired a new position in Alphabet during the 4th quarter valued at approximately $41,000. Towne Trust Company N.A boosted 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 purchasing an additional 34 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new position in Alphabet during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 27.26% of the company’s stock.
Insider Activity
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 159,466 shares of company stock worth $6,957,543 over the last ninety days. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Down 2.4%
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its 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 firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.81 EPS. As a group, research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Negative Sentiment: Britain’s competition watchdog set new requirements for Google Search, demanding greater transparency in ranking results and fairer treatment for businesses, adding to global regulatory scrutiny that could pressure Alphabet’s core search business. UK regulator sets out conduct requirements for Google’s search services
- Negative Sentiment: Analyst commentary remains cautious, with concerns about Alphabet’s high AI spending, heavy capital expenditures, competition, and valuation limiting enthusiasm despite strong growth prospects. AI Spending Is Strengthening the Alphabet (GOOGL) Bull Case
- Neutral Sentiment: Alphabet showcased more AI momentum at the G7, where Google DeepMind’s Demis Hassabis backed a U.S.-led AI coalition, reinforcing the company’s influence in frontier AI policy and investment discussions. CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
- Neutral Sentiment: Google also launched Android 17 and a new Gemini-focused smart speaker, highlighting ongoing product innovation that could support long-term ecosystem growth but is not an immediate earnings catalyst. Google bets on Gemini to reinvent the smart home speaker
- Positive Sentiment: HSBC expanded its partnership with Google Cloud to grow AI usage, a sign that Alphabet’s cloud and enterprise AI business continues to gain traction with major customers. HSBC partners with Google Cloud to expand AI usage
- Positive Sentiment: Alphabet is also expanding its physical and digital footprint, including a $1.5 billion Alabama data center investment and new Google-supported initiatives, which support the company’s AI infrastructure buildout. Alphabet (GOOGL) to Spend $1.5 Billion Expanding Alabama Data Center
Analysts Set New Price Targets
A number of research firms recently issued reports on GOOG. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 1st. KeyCorp restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Raymond James Financial restated a “strong-buy” rating and set a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $435.00 price objective on shares of Alphabet in a research report on Tuesday, June 2nd. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $376.78.
Read Our Latest Stock Analysis on Alphabet
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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