Alphabet Inc. $GOOG Stock Holdings Boosted by Conway Capital Management Inc.

Conway Capital Management Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,030 shares of the information services provider’s stock after acquiring an additional 1,730 shares during the quarter. Alphabet accounts for approximately 5.9% of Conway Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Conway Capital Management Inc.’s holdings in Alphabet were worth $13,817,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in Alphabet during the 4th quarter worth $38,000. Imprint Wealth LLC purchased a new position in Alphabet during the 3rd quarter worth $31,000. Towne Trust Company N.A boosted its holdings in 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. Creative Capital Management Investments LLC boosted its holdings in Alphabet by 1,438.5% during the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock worth $63,000 after acquiring an additional 187 shares during the last quarter. Finally, Optima Capital LLC purchased a new position in Alphabet during the 4th quarter worth $79,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,481 shares of company stock worth $27,422,061 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

Analysts Set New Price Targets

A number of research firms have issued reports on GOOG. Pivotal Research reaffirmed a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Piper Sandler reaffirmed an “overweight” rating and set a $395.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Truist Financial set a $385.00 price objective on shares of Alphabet in a report on Wednesday, April 22nd. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $372.65.

Alphabet Trading Up 0.3%

NASDAQ GOOG opened at $386.12 on Friday. The stock has a market capitalization of $4.68 trillion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.65 and a beta of 1.25. Alphabet Inc. has a one year low of $163.33 and a one year high of $404.47. 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 business’s fifty day moving average is $341.87 and its 200-day moving average is $323.94.

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. The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 EPS. Equities research analysts predict that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

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

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.