Redwood Family Wealth LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,676 shares of the information services provider’s stock, valued at approximately $526,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cedarwood Wealth LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $850,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Alphabet in the 4th quarter worth approximately $63,000. Mengis Capital Management Inc. raised its holdings in shares of Alphabet by 0.9% in the 4th quarter. Mengis Capital Management Inc. now owns 63,599 shares of the information services provider’s stock worth $19,958,000 after purchasing an additional 570 shares in the last quarter. Storen Legacy Partners LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $358,000. Finally, Worthington Financial Partners LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $360,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of GOOG opened at $367.46 on Monday. The company has a 50-day moving average of $364.31 and a two-hundred day moving average of $331.18. The stock has a market cap of $4.45 trillion, a price-to-earnings ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.23. 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 one year low of $163.33 and a one year high of $404.47.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The shares were 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 90 days, insiders sold 160,516 shares of company stock worth $7,344,604. Insiders own 12.99% of the company’s stock.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
- Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
- Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on GOOG shares. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $376.78.
Get Our Latest Research Report on GOOG
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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