NBZ Investment Advisors LLC Buys 1,960 Shares of Alphabet Inc. $GOOG

NBZ Investment Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,238 shares of the information services provider’s stock after buying an additional 1,960 shares during the period. Alphabet makes up approximately 1.2% of NBZ Investment Advisors LLC’s holdings, making the stock its 18th largest holding. NBZ Investment Advisors LLC’s holdings in Alphabet were worth $2,650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in 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 purchasing an additional 8,128,234 shares during the period. State Street Corp boosted its stake in shares of Alphabet by 0.5% during the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock valued at $58,712,878,000 after purchasing an additional 953,790 shares during the period. Auto Owners Insurance Co boosted its stake 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 valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. J. Stern & Co. LLP boosted its stake in shares of Alphabet by 28,482.8% during 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 purchasing an additional 111,699,704 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $346.12 on Friday. The firm has a market capitalization of $4.19 trillion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.48 and a beta of 1.23. The stock has a fifty day moving average of $366.29 and a 200 day moving average of $336.65. Alphabet Inc. has a 52 week low of $184.73 and a 52 week high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) 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 business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the previous year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 14.32 earnings per share 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 given a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.71%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock valued at $7,672,279 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group set a $430.00 target price on shares of Alphabet in a research note on Thursday. TD Cowen increased their price target on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Scotiabank reissued an “outperform” rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Wells Fargo & Company set a $416.00 price objective on shares of Alphabet in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $383.44.

Key Headlines 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 Company 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.