Elk River Wealth Management LLC Sells 2,081 Shares of Alphabet Inc. $GOOG

Elk River Wealth Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 36.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,633 shares of the information services provider’s stock after selling 2,081 shares during the period. Elk River Wealth Management LLC’s holdings in Alphabet were worth $1,140,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Kathmere Capital Management LLC increased its holdings in shares of Alphabet by 8.5% in the fourth 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 in the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Alphabet by 31.3% in the third quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider’s stock valued at $86,345,000 after purchasing an additional 84,553 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Alphabet by 0.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock valued at $53,920,000 after purchasing an additional 2,009 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Alphabet by 7.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares in the last quarter. Finally, LBP AM SA increased its holdings in shares of Alphabet by 11.0% in the third quarter. LBP AM SA now owns 431,349 shares of the information services provider’s stock valued at $105,055,000 after purchasing an additional 42,639 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the transaction, the director owned 18,621 shares of the company’s stock, valued at $6,908,391. The trade was a 0.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 226,481 shares of company stock worth $27,422,061. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. KeyCorp reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Wedbush reissued an “outperform” rating and issued a $370.00 price target on shares of Alphabet in a report on Thursday, February 5th. Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a report on Wednesday, May 20th. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a report on Monday, February 16th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 target price on shares of Alphabet in a report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $372.65.

Alphabet Price Performance

GOOG opened at $376.43 on Friday. The company has a fifty day moving average price of $343.28 and a two-hundred day moving average price of $324.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. The firm has a market capitalization of $4.56 trillion, a PE ratio of 28.71, a P/E/G ratio of 1.61 and a beta of 1.25.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the previous year, the business earned $2.81 EPS. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.41%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a standout Q1 result, with revenue up 63% to $20 billion, margin reaching 32.9%, and backlog rising to $462 billion. That reinforces Alphabet’s growing second engine beyond search and supports the bull case for further upside. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Google Cloud is also getting validation from new enterprise partnerships, including EQT’s rollout to help more than 300 portfolio companies adopt AI using Google Cloud tools. Private equity firm EQT partners with Google Cloud for AI rollout
• Positive Sentiment: Waymo news continues to suggest Alphabet’s autonomous-driving business may be undervalued, with the new Ojai robotaxi designed to lower fleet costs and expand capacity. That strengthens the long-term optionality in Alphabet’s non-advertising businesses. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet
• Positive Sentiment: Commentary from Jim Cramer was supportive, calling Alphabet a “crucial position” and saying “there’s a lot to like here,” which can help reinforce bullish sentiment among retail investors. Jim Cramer on Alphabet: “There’s a Lot to Like Here”
• Neutral Sentiment: Shares were also mentioned in analyst-style and market commentary framing Alphabet as a core AI and cloud beneficiary, but these pieces were largely reiterations rather than new catalysts.
• Negative Sentiment: An Indian court ruling on keyword ads could increase trademark and legal risk for Google’s search advertising business, raising concerns about a core profit driver. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: News that a Google engineer was charged in a $1.2 million Polymarket insider-trading case may create a modest reputational overhang, even though it is not a direct business or financial issue for Alphabet. US charges Google engineer with insider trading on Polymarket

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.