Nwam LLC Purchases 18,799 Shares of Alphabet Inc. $GOOG

Nwam LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 45.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 60,523 shares of the information services provider’s stock after buying an additional 18,799 shares during the quarter. Alphabet accounts for 1.0% of Nwam LLC’s investment portfolio, making the stock its 17th biggest holding. Nwam LLC’s holdings in Alphabet were worth $17,362,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co raised its holdings in shares of Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. J. Stern & Co. LLP lifted its stake in Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Norges Bank bought a new position in Alphabet during the fourth quarter worth about $18,093,665,000. Cardano Risk Management B.V. grew its holdings in Alphabet by 850.3% during the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after purchasing an additional 15,830,754 shares during the period. Finally, Vanguard Group Inc. increased its position in Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after buying an additional 8,128,234 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Trending Headlines about Alphabet

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

A number of analysts have recently issued reports on the company. Wedbush began coverage on Alphabet in a research report on Thursday. They issued an “outperform” rating and a $445.00 price objective for the company. Truist Financial set a $430.00 target price on Alphabet in a report on Monday, June 1st. Wells Fargo & Company set a $416.00 price target on Alphabet in a research note on Thursday, July 2nd. Zacks Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $383.44.

Alphabet Stock Down 2.2%

GOOG opened at $346.12 on Friday. Alphabet Inc. has a fifty-two week low of $184.73 and a fifty-two week high of $404.47. 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 company has a market capitalization of $4.19 trillion, a P/E ratio of 26.40, a P/E/G ratio of 1.48 and a beta of 1.23. The stock has a fifty day moving average of $366.29 and a 200-day moving average of $336.65.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 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 for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the prior year, the company posted $2.81 earnings per share. Alphabet’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Insider Activity

In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred 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 sale, the director owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 159,415 shares of company stock worth $7,672,279. Insiders own 12.99% of the company’s stock.

About Alphabet

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.