Decker Wealth Management LLC Acquires New Position in Alphabet Inc. $GOOG

Decker Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 33,857 shares of the information services provider’s stock, valued at approximately $9,712,000. Alphabet accounts for approximately 2.2% of Decker Wealth Management LLC’s portfolio, making the stock its 12th largest holding.

Several other large investors have also added to or reduced their stakes in GOOG. Kathmere Capital Management LLC boosted its holdings in shares of Alphabet by 8.5% in the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock worth $9,381,000 after purchasing an additional 2,341 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after buying an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after buying an additional 4,239 shares in the last quarter. World Investment Advisors lifted its position in Alphabet by 8.7% in the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $59,827,000 after buying an additional 15,280 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its position in Alphabet by 1.0% in the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock worth $106,936,000 after buying an additional 3,378 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates, driven by strong search, ads, and especially Google Cloud growth. S&P 500, Nasdaq close lower ahead of technology earnings
• Positive Sentiment: Google Cloud growth accelerated sharply on AI demand, reinforcing the case that Alphabet’s AI investments are translating into revenue. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue rose 13%, adding another sign that Alphabet’s core advertising business remains resilient. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion
• Positive Sentiment: Google said Gemini has reached 950 million monthly active users, suggesting improving traction in consumer AI. Google’s Gemini app nips at ChatGPT’s heels as it nears 1 billion users

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Pivotal Research reiterated a “buy” rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Wolfe Research reiterated an “outperform” rating on shares of Alphabet in a report on Monday. KeyCorp set a $445.00 price objective on Alphabet in a report on Friday, July 10th. Raymond James Financial reissued a “strong-buy” rating and issued a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Finally, Truist Financial set a $430.00 price target on Alphabet in a research report on Monday, June 1st. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $383.44.

Alphabet Stock Down 1.2%

Shares of Alphabet stock opened at $341.91 on Thursday. The company has a 50-day simple moving average of $363.69 and a two-hundred day simple moving average of $337.49. The stock has a market capitalization of $4.14 trillion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Alphabet Inc. has a 52-week low of $188.70 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.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $6.23. The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.06 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 14.34 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the firm’s 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 transaction, the director directly owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 159,415 shares of company stock worth $7,672,279. Insiders own 12.99% of the company’s stock.

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.