Waverly Advisors LLC Buys 28,262 Shares of Alphabet Inc. $GOOG

Waverly Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 9.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 318,454 shares of the information services provider’s stock after purchasing an additional 28,262 shares during the period. Alphabet comprises approximately 0.7% of Waverly Advisors LLC’s holdings, making the stock its 26th biggest holding. Waverly Advisors LLC’s holdings in Alphabet were worth $91,352,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GOOG. Providence Wealth Advisors LLC grew its stake in Alphabet by 0.3% during the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after buying an additional 29 shares during the last quarter. One Charles Private Wealth Services LLC raised its holdings in shares of Alphabet by 0.6% in the first quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock valued at $1,390,000 after buying an additional 29 shares during the last quarter. Ring Mountain Capital LLC raised its holdings in shares of Alphabet by 0.9% in the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock valued at $1,174,000 after buying an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. increased its position in Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after acquiring an additional 30 shares in the last quarter. Finally, Financial Enhancement Group LLC raised its stake in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock worth $380,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 2.3%

Shares of GOOG stock opened at $326.57 on Tuesday. Alphabet Inc. has a 12-month low of $188.70 and a 12-month high of $404.47. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $359.30 and a 200-day moving average of $337.61. The company has a market capitalization of $3.96 trillion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.08 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 17.25 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s payout ratio is 4.42%.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,415 shares of company stock valued at $7,672,279. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday. BMO Capital Markets upped their target price on shares of Alphabet from $455.00 to $465.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Raymond James Financial reissued a “strong-buy” rating on shares of Alphabet in a research report on Thursday. Wolfe Research set a $460.00 price objective on Alphabet in a research note on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Thursday. Six analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $410.09.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

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.