NerdWallet Wealth Partners LLC Reduces Stock Position in Alphabet Inc. $GOOG

NerdWallet Wealth Partners LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 40.6% during the 1st quarter, Holdings Channel reports. The firm owned 2,971 shares of the information services provider’s stock after selling 2,029 shares during the period. Alphabet makes up approximately 0.4% of NerdWallet Wealth Partners LLC’s investment portfolio, making the stock its 29th biggest position. NerdWallet Wealth Partners LLC’s holdings in Alphabet were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Beaumont Financial Advisors LLC lifted its holdings in Alphabet by 3.0% in the 1st quarter. Beaumont Financial Advisors LLC now owns 29,446 shares of the information services provider’s stock worth $8,447,000 after buying an additional 862 shares during the period. Midwest Professional Planners LTD. grew its position in shares of Alphabet by 2.0% in the 1st quarter. Midwest Professional Planners LTD. now owns 9,607 shares of the information services provider’s stock worth $2,756,000 after buying an additional 190 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Alphabet by 12.5% during the first quarter. Illinois Municipal Retirement Fund now owns 370,241 shares of the information services provider’s stock valued at $106,207,000 after buying an additional 40,996 shares during the period. Nolet Wealth Management LLC increased its stake in shares of Alphabet by 45.0% during the first quarter. Nolet Wealth Management LLC now owns 3,374 shares of the information services provider’s stock valued at $968,000 after buying an additional 1,047 shares during the period. Finally, Journey Advisory Group LLC raised its holdings in shares of Alphabet by 0.3% during the first quarter. Journey Advisory Group LLC now owns 15,112 shares of the information services provider’s stock valued at $4,335,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $346.12 on Monday. 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 52 week low of $184.73 and a 52 week high of $404.47. The stock has a market cap of $4.19 trillion, a PE ratio of 26.40, a PEG ratio of 1.43 and a beta of 1.23. The business has a 50 day moving average of $366.29 and a 200-day moving average of $336.81.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results 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 company had revenue of $109.90 billion for 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 firm’s revenue for the quarter 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 research analysts predict that Alphabet Inc. will post 14.33 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research report on Monday, June 22nd. Scotiabank restated an “outperform” rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Zacks Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, KeyCorp set a $445.00 target price on shares of Alphabet in a research note on Friday, July 10th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $383.44.

Key Alphabet News

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.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction dated 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 sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of the firm’s 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 of the company’s stock, valued at $9,345,358.56. This represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is owned by insiders.

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.