WT Wealth Management Reduces Stake in Alphabet Inc. $GOOG

WT Wealth Management cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,208 shares of the information services provider’s stock after selling 1,904 shares during the period. Alphabet accounts for about 2.9% of WT Wealth Management’s investment portfolio, making the stock its 6th biggest holding. WT Wealth Management’s holdings in Alphabet were worth $9,813,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Alphabet during the third quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new stake in Alphabet during the fourth quarter worth $38,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the fourth quarter worth $38,000. Bard Associates Inc. acquired a new stake in Alphabet in the fourth quarter valued at $41,000. Finally, Towne Trust Company N.A lifted its stake in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director owned 2,531 shares in the company, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 151,467 shares of company stock valued at $4,877,600 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.6%

GOOG stock opened at $353.33 on Wednesday. Alphabet Inc. has a one year low of $173.88 and a one year high of $404.47. The stock has a market cap of $4.28 trillion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. The company has a fifty day moving average price of $366.98 and a two-hundred day moving average price of $332.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.81 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a $0.22 dividend. This is an increase 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 currently 6.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOG. Truist Financial set a $430.00 price objective on shares of Alphabet in a research note on Monday, June 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $435.00 target price on shares of Alphabet in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their price target on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Pivotal Research reissued a “buy” rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $376.78.

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

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.