Modera Wealth Management LLC Sells 34,234 Shares of Alphabet Inc. $GOOG

Modera Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.3% during the first quarter, Holdings Channel reports. The firm owned 333,660 shares of the information services provider’s stock after selling 34,234 shares during the quarter. Alphabet makes up 1.1% of Modera Wealth Management LLC’s portfolio, making the stock its 22nd biggest holding. Modera Wealth Management LLC’s holdings in Alphabet were worth $95,714,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC lifted its holdings in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in Alphabet by 76.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after acquiring an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Alphabet during the second quarter valued at $658,000. Financial Advisors Network Inc. grew its stake in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. increased its holdings in Alphabet by 10.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 159,415 shares of company stock valued at $7,672,279. Insiders own 12.99% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is developing a new AI server chip, “Frozen v2,” designed to run its Gemini models more efficiently, which suggests lower inference costs and stronger AI margins. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Several analysts and market commentators remain bullish ahead of earnings, citing strong Search and Google Cloud growth, along with expectations that Alphabet can beat or at least support current high valuations. Zacks: Can Strong Search and Cloud Growth Drive GOOGL’s Q2 Earnings?
• Positive Sentiment: Investor attention is also being lifted by Berkshire Hathaway’s large Alphabet stake and comments from Warren Buffett, which reinforce confidence in Alphabet as a durable AI and core internet franchise. Motley Fool: Warren Buffett Said He Personally Started Berkshire’s Alphabet Position
• Neutral Sentiment: With Alphabet set to report on July 22, options traders and analysts expect a sizable post-earnings move, underscoring that the stock may stay volatile into the print. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Broader market focus on geopolitical risks and Big Tech earnings is adding a wait-and-see tone, but this is more of a backdrop than a direct driver for Alphabet. Yahoo Finance: US stocks edge down with Iran and earnings season in focus
• Negative Sentiment: New securities-fraud investigations disclosed by law firms could create some overhang, although these are early-stage and not yet tied to any specific financial impact. GlobeNewswire: Securities Fraud Investigation Into Alphabet Inc. Continues

Wall Street Analysts Forecast Growth

Several analysts have commented on GOOG shares. Scotiabank reiterated an “outperform” rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. KeyCorp set a $445.00 target price on Alphabet in a report on Friday, July 10th. Truist Financial set a $430.00 target price on Alphabet in a research report on Monday, June 1st. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Wedbush initiated coverage on Alphabet in a report on Thursday, July 16th. They set an “outperform” rating and a $445.00 price target for the company. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $383.44.

Alphabet Price Performance

NASDAQ:GOOG opened at $351.37 on Tuesday. The firm has a market capitalization of $4.26 trillion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.43 and a beta of 1.23. 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 has a 50 day simple moving average of $365.58 and a 200-day simple moving average of $337.07. Alphabet Inc. has a 1 year low of $187.05 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the previous year, the company posted $2.81 EPS. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. 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. This represents a $0.88 annualized dividend and a yield of 0.3%. 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.