Brighton Jones LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.0% in the first quarter, HoldingsChannel.com reports. The firm owned 181,749 shares of the information services provider’s stock after purchasing an additional 6,951 shares during the quarter. Alphabet accounts for approximately 2.2% of Brighton Jones LLC’s portfolio, making the stock its 12th biggest holding. Brighton Jones LLC’s holdings in Alphabet were worth $52,136,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co increased its position in shares of Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after buying an additional 179,369,280 shares during the period. J. Stern & Co. LLP lifted its holdings in Alphabet by 28,482.8% in the fourth 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 buying an additional 111,699,704 shares during the period. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at $18,093,665,000. Cardano Risk Management B.V. boosted its position in Alphabet by 850.3% during the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock valued at $5,551,938,000 after acquiring an additional 15,830,754 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Alphabet by 2.0% in the 4th 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 in the last quarter. Institutional investors own 27.26% of the company’s stock.
Alphabet Trading Down 1.4%
Shares of Alphabet stock opened at $358.71 on Thursday. 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 Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The stock has a 50 day moving average price of $369.48 and a two-hundred day moving average price of $334.74. The stock has a market capitalization of $4.35 trillion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23.
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 paid a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Waymo, Alphabet’s autonomous driving unit, said it plans to expand driverless rides to four more major cities this year, a sign that Alphabet’s self-driving business is scaling beyond its current markets. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
- Positive Sentiment: Google’s SynthID deepfake-detection system was used to debunk a high-profile AI-generated hoax image, highlighting the practical value of Alphabet’s AI safety tools. Google’s deepfake detector system used to debunk McConnell hoax pic
- Positive Sentiment: Several recent articles continued to frame Alphabet as a beneficiary of the AI infrastructure boom, with Google Cloud and AI demand seen as supporting revenue growth and long-term earnings power. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
- Positive Sentiment: Investor commentary has also remained constructive after strong recent earnings, with one analysis arguing Alphabet is on track to sustain “Rule of 40” type growth and healthy margins. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy
- Positive Sentiment: Berkshire Hathaway’s reported $10 billion private placement in Alphabet continued to draw attention and may support confidence in GOOG’s long-term value. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
- Neutral Sentiment: Several market recap and valuation pieces discussed Alphabet alongside other mega-cap AI leaders, but these were mostly commentary rather than new business developments. Three Most Valuable Companies at $13 Trillion: Buy, Sell, or Hold
- Negative Sentiment: Trading-data articles highlighted recent weakness in GOOG, including heavier-than-broad-market selling and reports of significant insider selling over the past six months, which can weigh on sentiment. GOOGL stock is down 3% today. Here’s what we see in our data.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Truist Financial set a $430.00 price target on Alphabet in a research note on Monday, June 1st. 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. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average target price of $376.19.
View Our Latest Stock Analysis on Alphabet
Insider Activity
In other news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer directly 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 160,465 shares of company stock valued at $8,020,511. 12.99% of the stock is currently owned by insiders.
About Alphabet
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.
See Also
- Five stocks we like better than Alphabet
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
