Conway Capital Management Inc. Has $13.82 Million Position in Alphabet Inc. $GOOG

Conway Capital Management Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,030 shares of the information services provider’s stock after purchasing an additional 1,730 shares during the quarter. Alphabet comprises approximately 5.9% of Conway Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Conway Capital Management Inc.’s holdings in Alphabet were worth $13,817,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC raised its holdings in Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after purchasing an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. raised its holdings in Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after purchasing an additional 30 shares during the last quarter. HRC Wealth Management LLC raised its holdings 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 purchasing an additional 31 shares during the last quarter. Certior Financial Group LLC raised its holdings in Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after purchasing an additional 31 shares during the last quarter. Finally, Synergy Investment Management LLC raised its holdings in Alphabet by 0.8% during the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock worth $1,294,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

Insiders Place Their Bets

In related news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the sale, the director owned 18,621 shares of the company’s stock, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,481 shares of company stock worth $27,422,061 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $386.12 on Friday. The company has a market cap of $4.68 trillion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. Alphabet Inc. has a 52 week low of $163.33 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 50 day moving average of $341.87 and a 200-day moving average of $323.94.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter last year, the firm posted $2.81 EPS. Alphabet’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.41%.

Analysts Set New Price Targets

Several analysts have recently commented on GOOG shares. Oppenheimer raised their price objective 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. Scotiabank reaffirmed an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. Wells Fargo & Company raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $372.65.

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.