Bleakley Financial Group LLC Has $57.49 Million Stock Position in Alphabet Inc. $GOOG

Bleakley Financial Group LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 200,415 shares of the information services provider’s stock after purchasing an additional 2,877 shares during the period. Alphabet comprises about 0.9% of Bleakley Financial Group LLC’s portfolio, making the stock its 25th largest holding. Bleakley Financial Group LLC’s holdings in Alphabet were worth $57,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of GOOG. Nvest Wealth Strategies Inc. bought a new stake in Alphabet during the 4th quarter valued at $38,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the fourth quarter valued at $38,000. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $31,000. Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $41,000. Finally, Towne Trust Company N.A grew 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 valued at $42,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOG shares. Wedbush started coverage on Alphabet in a research report on Thursday. They set an “outperform” rating and a $445.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Oppenheimer boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, TD Cowen raised their price objective on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $383.44.

Insider Activity at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the sale, the chief accounting officer owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction 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 transaction, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock worth $7,672,279 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet News Roundup

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.

Alphabet Trading Down 2.2%

Shares of GOOG opened at $346.12 on Friday. The firm has a 50-day moving average price of $366.29 and a 200 day moving average price of $336.65. 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 12-month low of $184.73 and a 12-month high of $404.47. The firm has a market capitalization of $4.19 trillion, a P/E ratio of 26.40, a P/E/G ratio of 1.48 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share 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 analysts’ expectations of $106.96 billion. During the same quarter last year, the company posted $2.81 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 14.32 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 paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Alphabet Company 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.