Evolve Private Wealth LLC Acquires 8,058 Shares of Alphabet Inc. $GOOG

Evolve Private Wealth LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 50,443 shares of the information services provider’s stock after buying an additional 8,058 shares during the period. Alphabet makes up about 0.8% of Evolve Private Wealth LLC’s portfolio, making the stock its 19th biggest holding. Evolve Private Wealth LLC’s holdings in Alphabet were worth $14,470,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares during the last quarter. State Street Corp raised its position in Alphabet by 0.5% during 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 period. Auto Owners Insurance Co lifted its stake in shares of Alphabet by 38,409.2% in the 4th 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 lifted its stake in shares of Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock valued at $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Needham & Company LLC set a $400.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, March 13th. Wells Fargo & Company restated an “overweight” rating and issued a $435.00 price target on shares of Alphabet in a research report on Tuesday, June 2nd. Oppenheimer raised their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. TD Cowen lifted their price objective on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $376.78.

Alphabet Trading Down 0.6%

GOOG opened at $346.55 on Wednesday. The stock has a market cap of $4.20 trillion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.49 and a beta of 1.22. The stock’s 50 day moving average price is $365.57 and its 200-day moving average price is $331.59. Alphabet Inc. has a one year low of $166.91 and a one year 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 issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period last year, the company earned $2.81 EPS. Alphabet’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date was Monday, June 8th. 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 0.3%. Alphabet’s payout ratio is 6.71%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the sale, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. This represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 160,516 shares of company stock valued at $7,344,604. Insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, a move that should boost its visibility and could support index-fund demand. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average
• Positive Sentiment: Analysts continued to point to Alphabet’s strong AI infrastructure demand and Google Cloud growth as reasons for long-term upside. Alphabet Rides on Accelerating AI Infrastructure Demand: What’s Ahead?
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with film studio A24, underscoring continued experimentation with new AI use cases. Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investor sentiment weakened after reports that another top AI scientist, John Jumper, left DeepMind for Anthropic, adding to fears of an AI brain drain. Google’s YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Broader market coverage highlighted worries about Alphabet’s heavy AI capital spending and the dilution risk tied to its large equity raise, which has pressured the stock. Alphabet Slides as AI Funding Plan Fuels Dilution Worries

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.