W.G. Shaheen & Associates DBA Whitney & Co Has $44.68 Million Stock Position in Alphabet Inc. $GOOG

W.G. Shaheen & Associates DBA Whitney & Co grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 1st quarter, Holdings Channel reports. The firm owned 155,749 shares of the information services provider’s stock after purchasing an additional 1,590 shares during the quarter. Alphabet makes up about 3.7% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 3rd biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $44,678,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Providence Wealth Advisors LLC boosted its position in Alphabet by 0.3% in the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 29 shares in the last quarter. Ring Mountain Capital LLC increased its holdings in shares of Alphabet by 0.9% during the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after buying an additional 30 shares in the last quarter. Cannon Financial Strategists Inc. raised its stake in shares of Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after acquiring an additional 30 shares during the last quarter. Financial Enhancement Group LLC boosted its holdings in shares of Alphabet by 2.3% in the 1st quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock worth $380,000 after acquiring an additional 30 shares in the last quarter. Finally, HRC Wealth Management LLC boosted its holdings in shares of Alphabet by 1.0% in the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

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 Stock Performance

GOOG stock opened at $346.12 on Monday. 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 company has a 50 day moving average price of $366.29 and a 200 day moving average price of $336.81. Alphabet Inc. has a fifty-two week low of $184.73 and a fifty-two week high of $404.47. The stock has a market capitalization of $4.19 trillion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $2.81 EPS. Analysts forecast that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Insider Transactions at Alphabet

In other Alphabet 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 transaction of $2,077,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GOOG shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. TD Cowen boosted 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. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $383.44.

About Alphabet

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.