Private Wealth Partners LLC Lowers Holdings in Alphabet Inc. $GOOG

Private Wealth Partners LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,878 shares of the information services provider’s stock after selling 4,602 shares during the quarter. Alphabet comprises 2.6% of Private Wealth Partners LLC’s investment portfolio, making the stock its 10th biggest position. Private Wealth Partners LLC’s holdings in Alphabet were worth $33,814,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. Ring Mountain Capital LLC raised its stake in shares of Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after purchasing an additional 30 shares during the period. Cannon Financial Strategists Inc. raised its stake in Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 30 shares in the last quarter. Financial Enhancement Group LLC lifted its position in Alphabet by 2.3% during the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 30 shares during the last quarter. HRC Wealth Management LLC grew its stake in Alphabet by 1.0% in the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after buying an additional 31 shares in the last quarter. Finally, Certior Financial Group LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after buying an additional 31 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 1.4%

NASDAQ GOOG opened at $358.71 on Thursday. Alphabet Inc. has a 1 year low of $173.88 and a 1 year high of $404.47. The stock has a market capitalization of $4.35 trillion, a PE ratio of 27.36, a PEG ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business’s 50-day moving average is $369.48 and its 200 day moving average is $334.74.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $2.81 EPS. Sell-side analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Key Headlines 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.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction 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 firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider 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 position. The SEC filing for this sale provides additional information. Insiders have sold 160,465 shares of company stock valued at $8,020,511 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Oppenheimer lifted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Stifel Nicolaus set a $420.00 target price on Alphabet in a research note on Wednesday, May 20th. KeyCorp restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, TD Cowen boosted their target price on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $376.19.

Alphabet 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.