Smith Chas P & Associates PA Cpas Has $122.03 Million Stock Position in Alphabet Inc. $GOOG

Smith Chas P & Associates PA Cpas grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 55.6% in the fourth quarter, Holdings Channel reports. The firm owned 388,888 shares of the information services provider’s stock after acquiring an additional 138,923 shares during the period. Alphabet accounts for approximately 6.4% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its largest position. Smith Chas P & Associates PA Cpas’ holdings in Alphabet were worth $122,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GOOG. Vanguard Group Inc. boosted its position 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 valued at $132,114,125,000 after buying an additional 8,128,234 shares during the period. JPMorgan Chase & Co. grew its stake in Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Alphabet by 5.8% during the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock worth $9,749,864,000 after acquiring an additional 2,209,203 shares during the period. Legal & General Group Plc increased its position in shares of Alphabet by 0.7% during the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock worth $7,935,671,000 after acquiring an additional 223,743 shares during the period. Finally, Capital World Investors raised its stake in shares of Alphabet by 1.9% during the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock valued at $6,971,769,000 after acquiring an additional 539,679 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $365.76 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’s 50 day moving average price is $350.06 and its 200-day moving average price is $327.07. Alphabet Inc. has a 52-week low of $163.33 and a 52-week high of $404.47. The company has a market cap of $4.43 trillion, a PE ratio of 27.90, a P/E/G ratio of 1.58 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.81 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Analyst Ratings Changes

A number of analysts recently issued reports on GOOG shares. Oppenheimer boosted their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. TD Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday, May 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $376.00.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet signed a major cloud-computing agreement with SpaceX, with reports putting the deal at about $920 million per month for 32 months, which could provide a meaningful revenue stream and reinforce demand for Google Cloud. Article Title
• Positive Sentiment: Alphabet’s municipal-bond debut drew strong investor demand, suggesting institutions still view the company as a high-quality borrower with flexible financing options. Article Title
• Positive Sentiment: Some investors and analysts said the equity raise is a strategic move to accelerate AI infrastructure and may help Alphabet defend and expand its long-term leadership in search, cloud, and AI. Article Title
• Neutral Sentiment: Alphabet also appeared in commentary about AI-related partnerships, including potential indirect benefits from the SpaceX IPO and other cloud collaborations, but these are mostly longer-term strategic themes rather than immediate catalysts. Article Title
• Negative Sentiment: Wall Street coverage focused heavily on Alphabet’s expanding capital expenditures, with some commentators warning that the AI buildout may be getting too expensive and could pressure free cash flow. Article Title

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the sale, the chief executive officer directly owned 1,642,060 shares in the company, valued at $505,573,853.40. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were 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. In the last quarter, insiders sold 193,016 shares of company stock worth $17,282,549. Company insiders own 12.99% of the company’s stock.

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.