Hanseatic Management Services Inc. Acquires Shares of 4,246 Alphabet Inc. $GOOG

Hanseatic Management Services Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, HoldingsChannel reports. The fund acquired 4,246 shares of the information services provider’s stock, valued at approximately $1,218,000.

A number of other institutional investors also recently modified their holdings of GOOG. Kathmere Capital Management LLC increased its position in Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after purchasing an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its position in shares of Alphabet by 1.0% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after purchasing an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock worth $19,060,000 after purchasing an additional 4,239 shares during the period. World Investment Advisors boosted its stake in shares of Alphabet by 8.7% during the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock valued at $59,827,000 after purchasing an additional 15,280 shares in the last quarter. Finally, Violich Capital Management Inc. boosted its stake in shares of Alphabet by 1.0% during the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after purchasing an additional 3,378 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares of the company’s stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 159,415 shares of company stock worth $7,672,279. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.2%

Shares of Alphabet stock opened at $341.91 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a 50-day moving average of $363.69 and a 200 day moving average of $337.49. The firm has a market cap of $4.14 trillion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.43 and a beta of 1.23. Alphabet Inc. has a 1 year low of $188.70 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.88 by $6.23. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.06 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Alphabet’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 14.34 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates, driven by strong search, ads, and especially Google Cloud growth. S&P 500, Nasdaq close lower ahead of technology earnings
• Positive Sentiment: Google Cloud growth accelerated sharply on AI demand, reinforcing the case that Alphabet’s AI investments are translating into revenue. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue rose 13%, adding another sign that Alphabet’s core advertising business remains resilient. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion
• Positive Sentiment: Google said Gemini has reached 950 million monthly active users, suggesting improving traction in consumer AI. Google’s Gemini app nips at ChatGPT’s heels as it nears 1 billion users

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GOOG shares. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research report on Wednesday. Oppenheimer upped their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $383.44.

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.