Turn8 Private Wealth Inc. Takes $413,000 Position in Alphabet Inc. $GOOG

Turn8 Private Wealth Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,438 shares of the information services provider’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock valued at $58,712,878,000 after purchasing an additional 953,790 shares during the last quarter. Auto Owners Insurance Co increased its position in shares of Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after buying an additional 179,369,280 shares during the period. J. Stern & Co. LLP increased its position in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after buying an additional 111,699,704 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Alphabet by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after buying an additional 1,073,151 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director directly owned 18,833 shares in the company, valued at $6,615,656.24. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,465 shares of company stock valued at $8,020,511 over the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Wells Fargo & Company set a $416.00 price objective on Alphabet in a research report on Thursday, July 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Oppenheimer raised their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $376.19.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $363.62 on Wednesday. The firm has a market capitalization of $4.41 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.56 and a beta of 1.23. The firm’s 50-day moving average price is $369.28 and its 200-day moving average price is $334.35. 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 1-year low of $173.88 and a 1-year high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its earnings results 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. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period in the previous year, the company posted $2.81 EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed 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. 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 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street is looking for another strong earnings report from Alphabet, with AI and Google Cloud expected to keep driving growth ahead of the company’s upcoming results. Alphabet Q2 Earnings Preview: What To Expect From Upcoming Report
• Positive Sentiment: Alphabet’s Google unit joined a €411 million funding round for Proxima Fusion, reinforcing its interest in frontier energy and other long-duration AI-adjacent opportunities. Google, RWE back Proxima Fusion in €411 million financing round
• Positive Sentiment: Coverage highlighting Alphabet as a potential “forever holding” for Berkshire-style investors may be helping reinforce the stock’s long-term AI and cash-flow appeal. Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Become Berkshire’s Next Forever Holding
• Neutral Sentiment: Alphabet announced that its Made by Google Pixel event will be held on August 12, which could build anticipation for new hardware updates but is not a major fundamental catalyst by itself. Google’s Pixel event is set for August 12
• Neutral Sentiment: Commentary comparing Alphabet with Palantir and Taiwan Semiconductor keeps Alphabet in the center of AI-stock debates, but these are mostly valuation and relative-performance discussions rather than direct business news. Palantir Vs. Google: Why Palantir is Surging in July and Should Investors Buy it Over Google?
• Negative Sentiment: TechCrunch reported that Google is expanding AI training to include more user-uploaded media, which could raise fresh privacy concerns and fuel scrutiny over how customer data is used. If you use Google, you’re training its AI. Here’s how to opt out.
• Negative Sentiment: Business Insider noted that Google’s status as a top tech employer is becoming less certain as AI-linked salary competition pushes some talent elsewhere, which could add pressure to retention. Google’s status as the dream tech job is changing. FOMO over AI salaries is only one reason why.

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.