Wealthquest Corp Purchases New Position in Alphabet Inc. $GOOG

Wealthquest Corp purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,410 shares of the information services provider’s stock, valued at approximately $757,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Imprint Wealth LLC acquired a new position in Alphabet in the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $38,000. Towne Trust Company N.A boosted its holdings in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 34 shares in the last quarter. Winnow Wealth LLC acquired a new position in Alphabet in the third quarter valued at approximately $63,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in Alphabet by 29.0% in the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after purchasing an additional 58 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Scotiabank reiterated an “outperform” rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $395.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $376.00.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $358.39 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The stock has a 50 day moving average of $344.61 and a two-hundred day moving average of $325.11. The stock has a market cap of $4.34 trillion, a P/E ratio of 27.34, a P/E/G ratio of 1.60 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during 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 quarter in the previous year, the business earned $2.81 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced 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 of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.41%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway’s $10 billion commitment to Alphabet supports the company’s AI strategy and signals strong long-term investor confidence. Berkshire invests extra $10 billion in Alphabet, deepening bet on AI
• Positive Sentiment: Some analysts say Google remains a key beneficiary of AI search growth, suggesting its core search and ad business may hold up better than feared. Google Is the Clear Beneficiary,’ Says Top Analyst as AI Search Takes Off
• Neutral Sentiment: Alphabet’s stakes in private AI-related companies such as Anthropic and exposure to future IPO optionality may add long-term upside, but this is not a near-term catalyst. Alphabet Stock Offers Exposure To SpaceX, Anthropic Before IPOs
• Negative Sentiment: The $80 billion stock sale raised concerns about dilution and the rising cost of Alphabet’s AI expansion, which is pressuring sentiment in the stock. Alphabet plans to raise $80 billion to pay for AI buildout
• Negative Sentiment: Reuters reported the EU may tighten cloud rules in strategic tenders, which could limit Google’s access to certain government contracts in Europe. EU cloud rules to curb Amazon, Google access to strategic tenders

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 193,016 shares of company stock valued at $17,282,549. 12.99% of the stock is owned by company insiders.

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.