Waverly Advisors LLC Acquires 28,262 Shares of Alphabet Inc. $GOOG

Waverly Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 318,454 shares of the information services provider’s stock after purchasing an additional 28,262 shares during the quarter. Alphabet makes up 0.7% of Waverly Advisors LLC’s holdings, making the stock its 26th largest holding. Waverly Advisors LLC’s holdings in Alphabet were worth $91,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kathmere Capital Management LLC lifted its stake in Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after purchasing an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares during the period. Violich Capital Management Inc. lifted its stake in Alphabet by 1.0% in the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in Alphabet by 12.1% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 45,014 shares of the information services provider’s stock valued at $14,125,000 after purchasing an additional 4,848 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $326.57 on Tuesday. The stock has a 50 day simple moving average of $359.30 and a 200 day simple moving average of $337.61. The stock has a market cap of $3.96 trillion, a P/E ratio of 16.40, a PEG ratio of 1.08 and a beta of 1.23. Alphabet Inc. has a 1-year low of $188.70 and a 1-year high of $404.47. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. Research analysts anticipate that Alphabet Inc. will post 17.25 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is presently 4.42%.

Insiders Place Their Bets

In related 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 transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was 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 represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,415 shares of company stock valued at $7,672,279 in the last three months. Insiders own 12.99% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research report on Thursday. Morgan Stanley reduced their target price on Alphabet from $415.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 target price on Alphabet in a report on Thursday. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $475.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $410.09.

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.