Alphabet Inc. $GOOG Shares Purchased by Westmount Partners LLC

Westmount Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,036 shares of the information services provider’s stock after buying an additional 2,683 shares during the period. Alphabet makes up approximately 1.1% of Westmount Partners LLC’s investment portfolio, making the stock its 17th largest holding. Westmount Partners LLC’s holdings in Alphabet were worth $4,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after buying an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Alphabet during the second quarter worth about $658,000. Financial Advisors Network Inc. grew its holdings in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after acquiring an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. grew its holdings in Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after acquiring an additional 3,616 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Monday. Freedom Capital lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a research report on Wednesday, May 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $376.78.

Insider Transactions at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last ninety days. Company insiders own 12.99% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Negative Sentiment: Key AI researchers have left Alphabet for competitors, intensifying worries that the company is losing critical talent needed to lead in generative AI. Reuters: Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investors are also worried that Alphabet’s aggressive AI spending plans, including a large equity raise to fund infrastructure and compute, could dilute shareholders and pressure free cash flow. Quiver Quantitative: Alphabet Slides as AI Funding Plan Fuels Dilution Worries
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with A24, showing it is still investing in new AI use cases, but this was overshadowed by the talent-loss narrative. TechCrunch: Google DeepMind bets $75M on AI’s future in Hollywood with A24 deal
• Neutral Sentiment: Recent fundamentals remain strong, with Alphabet’s latest quarter beating expectations on both earnings and revenue, which helps offset some of the negative sentiment. Alphabet stock page

Alphabet Stock Performance

Shares of GOOG stock opened at $348.78 on Tuesday. The company has a market capitalization of $4.23 trillion, a P/E ratio of 26.60, a P/E/G ratio of 1.57 and a beta of 1.22. The business’s 50 day moving average is $364.96 and its two-hundred day moving average is $331.41. 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 $163.33 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The business 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 business’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 earnings per share. Analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid 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 dividend payout ratio is 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.