Elk River Wealth Management LLC Has $1.14 Million Position in Alphabet Inc. $GOOG

Elk River Wealth Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,633 shares of the information services provider’s stock after selling 2,081 shares during the quarter. Elk River Wealth Management LLC’s holdings in Alphabet were worth $1,140,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after purchasing an additional 7,904,434 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Alphabet by 5.8% in the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock valued at $9,749,864,000 after purchasing an additional 2,209,203 shares during the last quarter. Legal & General Group Plc grew its position in shares of Alphabet by 0.7% in the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock valued at $7,935,671,000 after purchasing an additional 223,743 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Alphabet by 1.9% in the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock valued at $6,971,769,000 after purchasing an additional 539,679 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Wedbush reissued an “outperform” rating and set a $370.00 target price on shares of Alphabet in a research report on Thursday, February 5th. DZ Bank raised Alphabet to a “strong-buy” rating in a research report on Monday, February 16th. Wells Fargo & Company raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Stifel Nicolaus set a $420.00 target price on Alphabet in a research report on Wednesday, May 20th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $372.65.

Alphabet Stock Down 2.5%

GOOG stock opened at $376.43 on Friday. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The company has a market cap of $4.56 trillion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.25. The business’s 50-day simple moving average is $343.28 and its 200 day simple moving average is $324.30. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.81 earnings per share. On average, research analysts anticipate 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. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.41%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 955 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the transaction, the chief accounting officer owned 9,918 shares in the company, valued at $2,955,564. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $303.41, for a total transaction of $318,580.50. Following the transaction, the director owned 4,631 shares of the company’s stock, valued at approximately $1,405,091.71. This represents a 18.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 226,481 shares of company stock valued at $27,422,061. 12.99% of the stock is owned by company insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a standout Q1 result, with revenue up 63% to $20 billion, margin reaching 32.9%, and backlog rising to $462 billion. That reinforces Alphabet’s growing second engine beyond search and supports the bull case for further upside. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Google Cloud is also getting validation from new enterprise partnerships, including EQT’s rollout to help more than 300 portfolio companies adopt AI using Google Cloud tools. Private equity firm EQT partners with Google Cloud for AI rollout
• Positive Sentiment: Waymo news continues to suggest Alphabet’s autonomous-driving business may be undervalued, with the new Ojai robotaxi designed to lower fleet costs and expand capacity. That strengthens the long-term optionality in Alphabet’s non-advertising businesses. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet
• Positive Sentiment: Commentary from Jim Cramer was supportive, calling Alphabet a “crucial position” and saying “there’s a lot to like here,” which can help reinforce bullish sentiment among retail investors. Jim Cramer on Alphabet: “There’s a Lot to Like Here”
• Neutral Sentiment: Shares were also mentioned in analyst-style and market commentary framing Alphabet as a core AI and cloud beneficiary, but these pieces were largely reiterations rather than new catalysts.
• Negative Sentiment: An Indian court ruling on keyword ads could increase trademark and legal risk for Google’s search advertising business, raising concerns about a core profit driver. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: News that a Google engineer was charged in a $1.2 million Polymarket insider-trading case may create a modest reputational overhang, even though it is not a direct business or financial issue for Alphabet. US charges Google engineer with insider trading on Polymarket

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.