Thryve Wealth Management LLC Takes Position in Alphabet Inc. $GOOG

Thryve Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,210 shares of the information services provider’s stock, valued at approximately $2,576,000. Alphabet accounts for 1.3% of Thryve Wealth Management LLC’s holdings, making the stock its 21st biggest holding.

Several other hedge funds have also recently modified their holdings of GOOG. Mariner Investment Group LLC purchased a new stake in Alphabet during the fourth quarter worth $109,830,000. KW Wealth Management LLC boosted its holdings in Alphabet by 1.9% in the fourth quarter. KW Wealth Management LLC now owns 7,829 shares of the information services provider’s stock worth $2,457,000 after acquiring an additional 144 shares in the last quarter. MidFirst Bank acquired a new stake in Alphabet in the 4th quarter worth approximately $8,841,000. DGS Capital Management LLC lifted its stake in shares of Alphabet by 36.6% during the fourth quarter. DGS Capital Management LLC now owns 43,821 shares of the information services provider’s stock worth $13,751,000 after buying an additional 11,748 shares during the period. Finally, Anderson Financial Strategies LLC lifted its position in Alphabet by 4.8% during the 4th quarter. Anderson Financial Strategies LLC now owns 1,363 shares of the information services provider’s stock worth $428,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Insider Activity

In other Alphabet news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director directly owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The shares were 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 sold a total of 160,516 shares of company stock worth $7,344,604 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $367.46 on Friday. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The company has a 50 day moving average price of $364.31 and a 200 day moving average price of $331.07. The stock has a market capitalization of $4.45 trillion, a P/E ratio of 28.03, a PEG ratio of 1.57 and a beta of 1.22. 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 posted its quarterly earnings data 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. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.81 EPS. Equities research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. TD Cowen upped their price objective on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Truist Financial set a $430.00 price objective on shares of Alphabet in a report on Monday, June 1st. JPMorgan Chase & Co. lifted their price target on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $376.78.

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.