Icon Wealth Advisors LLC Has $16.07 Million Position in Alphabet Inc. $GOOG

Icon Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 52,327 shares of the information services provider’s stock after acquiring an additional 1,938 shares during the quarter. Alphabet comprises about 1.1% of Icon Wealth Advisors LLC’s holdings, making the stock its 24th biggest holding. Icon Wealth Advisors LLC’s holdings in Alphabet were worth $16,069,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GOOG. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth approximately $18,093,665,000. Cardano Risk Management B.V. raised its holdings in Alphabet by 850.3% in the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock valued at $5,551,938,000 after acquiring an additional 15,830,754 shares during the period. Vanguard Group Inc. raised its holdings in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after acquiring an additional 7,904,434 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Alphabet by 130.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,280,970 shares of the information services provider’s stock valued at $2,598,568,000 after acquiring an additional 4,680,460 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $358.16 on Monday. The company’s 50 day moving average price is $357.71 and its two-hundred day moving average price is $329.52. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The firm has a market cap of $4.34 trillion, a PE ratio of 27.32, a PEG ratio of 1.53 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (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 for the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the prior year, the business posted $2.81 EPS. The business’s revenue was up 21.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 14.3 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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Wells Fargo & Company reissued an “overweight” rating and issued a $435.00 price target on shares of Alphabet in a report on Tuesday, June 2nd. KeyCorp reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 1st. Finally, Scotiabank restated an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $376.78.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone-delivery unit Wing expanded into seven more U.S. cities with Walmart, reinforcing that its Other Bets can scale into real businesses and may be more valuable than the market gives them credit for.
• Positive Sentiment: Waymo launched a $29.99 monthly membership program, adding a recurring-revenue layer to its robotaxi business and highlighting rapid growth in paid rides, which investors may see as a meaningful long-term opportunity.
• Positive Sentiment: Several analyst and commentary pieces remain constructive on Alphabet’s AI, cloud, and search setup, with some calling it an AI powerhouse and lifting price targets, which supports the stock’s bullish narrative.
• Positive Sentiment: Google is also expanding its real-estate listings nationwide and continuing to deepen its AI infrastructure and chip strategy, reinforcing multiple growth avenues beyond search advertising.
• Neutral Sentiment: Google filed suit against an alleged Chinese cybercrime group that used AI to scam victims, a move that shows the company is actively defending its platforms, though the stock impact is likely limited unless the issue escalates.
• Neutral Sentiment: Alphabet declined a $2 billion U.S. quantum-computing funding program, saying the terms could slow development; that may be viewed as a strategic choice rather than a major financial event.
• Neutral Sentiment: News that some billionaire investors sold Alphabet in Q1 while others bought more adds to the debate, but it does not change the underlying business fundamentals by itself.
• Negative Sentiment: Some recent coverage continues to focus on worries about rising capital expenditures and AI monetization, which can pressure sentiment if investors fear Alphabet’s AI spending will take longer to pay off.
• Negative Sentiment: Alphabet’s AI Overview feature has also faced renewed controversy, adding another small overhang around search quality and user trust.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares in the company, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This represents a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 191,966 shares of company stock worth $16,963,968 in the last three months. 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.