Wealthfront Advisers LLC Has $180.67 Million Holdings in Alphabet Inc. $GOOG

Wealthfront Advisers LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 629,806 shares of the information services provider’s stock after acquiring an additional 30,735 shares during the quarter. Wealthfront Advisers LLC’s holdings in Alphabet were worth $180,666,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Providence Wealth Advisors LLC grew its position in shares of Alphabet by 0.3% during the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 29 shares in the last quarter. Ring Mountain Capital LLC raised its position in shares of Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after buying an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. raised its position in shares of 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 buying an additional 30 shares in the last quarter. Financial Enhancement Group LLC boosted its stake in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after buying an additional 30 shares during the period. Finally, HRC Wealth Management LLC boosted its stake in shares of Alphabet by 1.0% in the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock valued at $1,014,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOG. Pivotal Research restated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Scotiabank reissued an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Wedbush started coverage on Alphabet in a research report on Thursday. They issued an “outperform” rating and a $445.00 price target on the stock. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Five equities research 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $383.44.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 112 shares of the 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 completion of the transaction, the director owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock worth $7,672,279 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $346.12 on Monday. The stock’s 50-day simple moving average is $366.29 and its 200 day simple moving average is $336.81. The firm has a market capitalization of $4.19 trillion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. 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 Inc. has a twelve month low of $184.73 and a twelve month high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping 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 firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 14.33 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.71%.

Alphabet News Summary

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.