Assetmark Inc. Has $161.36 Million Position in Alphabet Inc. $GOOG

Assetmark Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.7% in the 1st quarter, HoldingsChannel reports. The firm owned 562,520 shares of the information services provider’s stock after buying an additional 49,925 shares during the period. Assetmark Inc.’s holdings in Alphabet were worth $161,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after buying an additional 8,128,234 shares during the period. State Street Corp grew its position in shares of Alphabet by 0.5% in the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock valued at $58,712,878,000 after purchasing an additional 953,790 shares during the last quarter. Auto Owners Insurance Co grew its position in shares of Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP increased its stake in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after purchasing an additional 111,699,704 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Alphabet by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after purchasing an additional 1,073,151 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Friday. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Truist Financial set a $430.00 price objective on shares of Alphabet in a research note on Monday, June 1st. Finally, KeyCorp set a $445.00 price objective on shares of Alphabet in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $383.44.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,415 shares of company stock valued at $7,672,279 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOG opened at $351.37 on Tuesday. Alphabet Inc. has a 12-month low of $187.05 and a 12-month high of $404.47. The business has a 50-day simple moving average of $365.58 and a two-hundred day simple moving average of $337.07. 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 stock has a market cap of $4.26 trillion, a PE ratio of 26.80, a PEG ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period in the previous year, the business posted $2.81 earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 14.33 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Key Headlines Impacting Alphabet

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.