Alphabet Inc. $GOOG Shares Sold by Calamos Wealth Management LLC

Calamos Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 77,797 shares of the information services provider’s stock after selling 1,831 shares during the period. Alphabet accounts for approximately 0.8% of Calamos Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Calamos Wealth Management LLC’s holdings in Alphabet were worth $22,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC grew its holdings in Alphabet by 76.2% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after buying an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Alphabet during the 2nd quarter valued at $658,000. Financial Advisors Network Inc. increased its position in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after buying an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its position in 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 buying an additional 3,616 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Alphabet Stock Performance

Shares of GOOG stock opened at $346.12 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $4.19 trillion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. Alphabet Inc. has a one year low of $184.73 and a one year high of $404.47. The company has a 50 day moving average price of $366.29 and a 200 day moving average price of $336.65.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $106.96 billion. During the same quarter last year, the business earned $2.81 EPS. Alphabet’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company 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. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Insider Buying and Selling

In related news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,415 shares of company stock worth $7,672,279. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOG shares. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research report on Wednesday, May 20th. Zacks Research upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. UBS Group set a $430.00 target price on shares of Alphabet in a report on Thursday. Finally, Oppenheimer raised their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $383.44.

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.