Fort Washington Investment Advisors Inc. OH cut its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,569,074 shares of the information services provider’s stock after selling 49,956 shares during the period. Alphabet makes up 4.1% of Fort Washington Investment Advisors Inc. OH’s portfolio, making the stock its 2nd largest holding. Fort Washington Investment Advisors Inc. OH’s holdings in Alphabet were worth $736,965,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after purchasing an additional 806,681 shares during the period. Darwin Wealth Management LLC purchased a new stake in Alphabet in the second quarter worth $658,000. Financial Advisors Network Inc. increased its stake in Alphabet by 7.7% in the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after purchasing an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its position in shares of Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after purchasing an additional 3,616 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently commented on GOOG. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price target on shares of Alphabet in a report on Thursday, May 21st. Truist Financial set a $430.00 target price on shares of Alphabet in a research note on Monday, June 1st. JPMorgan Chase & Co. upped their target price on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, TD Cowen lifted their price objective on Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Four 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 stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $376.78.
Alphabet Stock Up 0.6%
Shares of Alphabet stock opened at $353.33 on Wednesday. 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 company has a market cap of $4.28 trillion, a P/E ratio of 26.95, a PEG ratio of 1.50 and a beta of 1.22. The firm’s 50 day moving average price is $366.98 and its 200-day moving average price is $332.53. Alphabet Inc. has a 52-week low of $173.88 and a 52-week high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share 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 company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same period last year, the firm earned $2.81 earnings per share. Alphabet’s revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Insiders Place Their Bets
In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 151,467 shares of company stock valued at $4,877,600 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, prompting a stock lift as passive funds and blue-chip investors rebalance into the shares. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
- Positive Sentiment: Google launched Nano Banana 2 Lite and Gemini Omni, cheaper and faster AI image/video models that could strengthen its AI product lineup and improve adoption. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
- Positive Sentiment: FactSet announced a strategic partnership with Google Cloud to build AI-powered financial intelligence tools, adding validation for Google Cloud’s enterprise AI push. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
- Positive Sentiment: Visa and Google signed on to use OpenUSD for money movement, suggesting additional ecosystem relevance in digital payments and infrastructure. PYMNTS: Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
- Neutral Sentiment: Several reports highlighted continued bullish analyst views and higher price targets, which support sentiment but are not new fundamental changes by themselves.
- Negative Sentiment: Investors are still worried about Alphabet’s heavy AI spending, with reports noting massive compute-capacity plans and the risk that capital expenditures may weigh on near-term margins. Yahoo Finance: If You Think Alphabet’s AI Spending Is High Now, Just Wait for 2028
- Negative Sentiment: UK regulators opened a consultation aimed at loosening app-store payment restrictions, a potential pressure point for Google’s app marketplace economics. TechXplore: UK targets Apple, Google app store fees for developers
- Negative Sentiment: Recent insider sales, including by director Frances Arnold and CAO Marsida Saraci, may add a small cautionary note even though the sales were modest. SEC filing: Alphabet insider transaction
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.
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