Checchi Capital Advisers LLC Acquires 1,788 Shares of Alphabet Inc. $GOOG

Checchi Capital Advisers LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,356 shares of the information services provider’s stock after buying an additional 1,788 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Alphabet were worth $13,011,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet in the fourth quarter worth about $38,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $38,000. Imprint Wealth LLC purchased a new position in shares of Alphabet during the third quarter valued at approximately $31,000. Bard Associates Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $41,000. Finally, Towne Trust Company N.A boosted its position in shares of 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 purchasing an additional 34 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director directly owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,415 shares of company stock worth $7,672,279 over the last three months. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. KeyCorp set a $445.00 price objective on Alphabet in a research report on Friday, July 10th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Monday, June 22nd. Wedbush started coverage on Alphabet in a report on Thursday. They set an “outperform” rating and a $445.00 price target for the company. Scotiabank reaffirmed an “outperform” rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, TD Cowen upped their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $383.44.

More 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.

Alphabet Price Performance

NASDAQ GOOG opened at $346.12 on Friday. The company has a 50-day moving average price of $366.29 and a 200-day moving average price of $336.65. Alphabet Inc. has a 52 week low of $184.73 and a 52 week high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.19 trillion, a P/E ratio of 26.40, a PEG ratio of 1.48 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) 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.