Granite Bay Wealth Management LLC Has $9.25 Million Stake in Alphabet Inc. $GOOG

Granite Bay Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 16.6% in the fourth quarter, HoldingsChannel reports. The firm owned 29,472 shares of the information services provider’s stock after selling 5,877 shares during the period. Alphabet accounts for about 2.2% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Granite Bay Wealth Management LLC’s holdings in Alphabet were worth $9,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Towne Trust Company N.A boosted its stake in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the period. Winnow Wealth LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at $63,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Alphabet by 29.0% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOG shares. TD Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday. Truist Financial set a $385.00 target price on shares of Alphabet in a research note on Wednesday, April 22nd. Freedom Capital lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Pivotal Research reissued a “buy” rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Six research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $372.65.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction 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 sale, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 226,481 shares of company stock worth $27,422,061 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.1%

GOOG stock opened at $379.38 on Friday. 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 1 year low of $163.33 and a 1 year high of $404.47. The company has a fifty day simple moving average of $335.54 and a 200 day simple moving average of $320.81. The firm has a market cap of $4.60 trillion, a PE ratio of 28.94, a PEG ratio of 1.62 and a beta of 1.25.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the previous year, the business earned $2.81 EPS. Alphabet’s quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Recent commentary says Alphabet was one of the biggest winners among the Mag 7 this earnings season, helped by accelerating Google Cloud sales and broader AI-driven strength. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Analysts highlighted Alphabet’s new AI ad formats and shopping tools as potential catalysts for stronger search monetization, higher conversion rates, and increased ad spending. Alphabet’s new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Alphabet also announced a large $15 billion data center and AI infrastructure investment in Missouri, reinforcing investor confidence in its cloud and AI buildout. Google Deepens Missouri Roots with New Data Center, Energy, and Community Investments
• Neutral Sentiment: Google unveiled new AI search and agent features at I/O, which could improve engagement over time, but the rollout also raised concerns about complexity and possible disruption to the traditional search experience. You can no longer Google the word ‘disregard’
• Neutral Sentiment: Waymo temporarily paused some robotaxi and freeway services after safety issues in flooded roads and construction zones; while this is not core to Alphabet’s profits, it adds execution risk and negative headlines. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Alphabet has appealed the U.S. search-monopoly ruling, keeping antitrust overhang and potential remedies in focus for investors. Google appeals US court ruling on search monopoly

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.