Angeles Wealth Management LLC Has $15.12 Million Position in Alphabet Inc. $GOOG

Angeles Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 52,710 shares of the information services provider’s stock after acquiring an additional 3,960 shares during the quarter. Alphabet comprises 0.8% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Angeles Wealth Management LLC’s holdings in Alphabet were worth $15,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Providence Wealth Advisors LLC lifted its holdings in Alphabet by 0.3% during the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 29 shares during the last quarter. Ring Mountain Capital LLC grew its holdings in Alphabet by 0.9% in the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after buying an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. grew its holdings in Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after buying an additional 30 shares in the last quarter. Financial Enhancement Group LLC increased its position in Alphabet by 2.3% during the 1st quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock worth $380,000 after buying an additional 30 shares during the period. Finally, HRC Wealth Management LLC increased its position in Alphabet by 1.0% during the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.5%

Shares of GOOG opened at $351.37 on Tuesday. Alphabet Inc. has a 52-week low of $187.05 and a 52-week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The business’s fifty day moving average is $365.58 and its 200-day moving average is $337.07. The firm has a market cap of $4.26 trillion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping 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 analysts’ expectations of $106.96 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 14.33 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Zacks Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company set a $416.00 price target on shares of Alphabet in a research report on Thursday, July 2nd. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Stifel Nicolaus set a $420.00 price objective on Alphabet in a report on Wednesday, May 20th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $383.44.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on 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 owned 18,833 shares in the company, valued at $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 8,998 shares of the business’s 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 sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 159,415 shares of company stock worth $7,672,279 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is developing a new AI server chip, “Frozen v2,” designed to run its Gemini models more efficiently, which suggests lower inference costs and stronger AI margins. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Several analysts and market commentators remain bullish ahead of earnings, citing strong Search and Google Cloud growth, along with expectations that Alphabet can beat or at least support current high valuations. Zacks: Can Strong Search and Cloud Growth Drive GOOGL’s Q2 Earnings?
• Positive Sentiment: Investor attention is also being lifted by Berkshire Hathaway’s large Alphabet stake and comments from Warren Buffett, which reinforce confidence in Alphabet as a durable AI and core internet franchise. Motley Fool: Warren Buffett Said He Personally Started Berkshire’s Alphabet Position
• Neutral Sentiment: With Alphabet set to report on July 22, options traders and analysts expect a sizable post-earnings move, underscoring that the stock may stay volatile into the print. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Broader market focus on geopolitical risks and Big Tech earnings is adding a wait-and-see tone, but this is more of a backdrop than a direct driver for Alphabet. Yahoo Finance: US stocks edge down with Iran and earnings season in focus
• Negative Sentiment: New securities-fraud investigations disclosed by law firms could create some overhang, although these are early-stage and not yet tied to any specific financial impact. GlobeNewswire: Securities Fraud Investigation Into Alphabet Inc. Continues

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.