NerdWallet Wealth Partners LLC Sells 2,029 Shares of Alphabet Inc. $GOOG

NerdWallet Wealth Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 40.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,971 shares of the information services provider’s stock after selling 2,029 shares during the quarter. Alphabet accounts for approximately 0.4% of NerdWallet Wealth Partners LLC’s portfolio, making the stock its 29th largest position. NerdWallet Wealth Partners LLC’s holdings in Alphabet were worth $852,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOG. Nvest Wealth Strategies Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the 4th quarter worth $38,000. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $31,000. Bard Associates Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $41,000. Finally, Towne Trust Company N.A lifted its holdings in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 target price on shares of Alphabet in a research report on Thursday, April 30th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Monday, June 22nd. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. 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. Finally, UBS Group set a $430.00 price objective on Alphabet in a report on Thursday. Five investment 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 stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $383.44.

Alphabet Stock Performance

Alphabet stock opened at $346.12 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.19 trillion, a PE ratio of 26.40, a P/E/G ratio of 1.43 and a beta of 1.23. The firm has a fifty day simple moving average of $366.29 and a two-hundred day simple moving average of $336.81. Alphabet Inc. has a twelve month low of $184.73 and a twelve month high of $404.47.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the firm earned $2.81 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

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

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.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was 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. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on 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 owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 159,415 shares of company stock worth $7,672,279 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.