Checchi Capital Advisers LLC Purchases 1,788 Shares of Alphabet Inc. $GOOG

Checchi Capital Advisers LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 45,356 shares of the information services provider’s stock after buying an additional 1,788 shares during the period. Checchi Capital Advisers LLC’s holdings in Alphabet were worth $13,011,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the third quarter worth about $31,000. Nvest Wealth Strategies Inc. bought a new position in Alphabet in the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet during the 4th quarter valued at approximately $38,000. Bard Associates Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $41,000. Finally, Towne Trust Company N.A lifted its holdings in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares of the company’s stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 159,415 shares of company stock worth $7,672,279. Company insiders own 12.99% of the company’s stock.

More 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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company set a $416.00 price target on shares of Alphabet in a research note on Thursday, July 2nd. Scotiabank reissued an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. UBS Group set a $430.00 price objective on Alphabet in a research report on Thursday. Finally, Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $383.44.

Alphabet Stock Down 2.2%

Shares of NASDAQ:GOOG opened at $346.12 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 12 month low of $184.73 and a 12 month high of $404.47. The company has a 50-day moving average price of $366.29 and a 200 day moving average price of $336.65. The company has a market cap of $4.19 trillion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.48 and a beta of 1.23.

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, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period in the previous year, the firm posted $2.81 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

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.