111 Capital reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,060 shares of the information services provider's stock after selling 2,032 shares during the quarter. Alphabet comprises 1.8% of 111 Capital's portfolio, making the stock its 8th biggest position. 111 Capital's holdings in Alphabet were worth $10,743,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strategic Wealth Advisors LLC boosted its position in shares of Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after purchasing an additional 27 shares in the last quarter. Rockbridge Investment Management LCC increased its position in shares of Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after buying an additional 27 shares in the last quarter. Ruggaard & Associates LLC raised its stake in Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock worth $840,000 after buying an additional 27 shares during the period. Cadia Private Client LLC lifted its holdings in Alphabet by 1.1% during the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock worth $744,000 after acquiring an additional 28 shares in the last quarter. Finally, Evansbrook LLC grew its stake in Alphabet by 0.3% in the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock valued at $2,738,000 after acquiring an additional 28 shares during the period. 40.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. HSBC reiterated a "buy" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. President Capital lifted their price target on shares of Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Arete Research upped their price target on shares of Alphabet from $405.00 to $425.00 and gave the company a "buy" rating in a report on Monday, May 18th. Dbs Bank raised their price objective on shares of Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $515.00 target price on shares of Alphabet in a research note on Wednesday, July 22nd. Six research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus target price of $420.19.
View Our Latest Report on Alphabet
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet reportedly plans to move all Pixel smartphone manufacturing out of China by 2027, shifting production to Vietnam and India. The move could diversify its supply chain and reduce geopolitical and tariff-related exposure, although execution and transition costs remain considerations. Google plans to move all Pixel manufacturing out of China by 2027: report
- Positive Sentiment: A review of second-quarter consumer-internet results described Alphabet as the standout performer, reinforcing the investment case based on its operating momentum and market position. Consumer internet Q2 earnings: Alphabet simply the best
- Positive Sentiment: Marvell’s newly announced custom-chip agreement with Google is drawing significant attention ahead of Marvell’s earnings. The deal highlights Alphabet’s continued investment in custom AI infrastructure and could improve computing efficiency while increasing competitive pressure on Broadcom. Marvell Earnings Are Coming. Google Agreement Likely to Be Biggest Talking Point.
- Positive Sentiment: Alphabet was among the large social-media and technology companies trading higher as investors rotated within the sector. The move reflects supportive broader sentiment, though it is not a company-specific catalyst. Snap rises, Meta and Alphabet tick up
- Neutral Sentiment: Articles highlighted Alphabet as a relatively attractively valued Magnificent Seven company and noted that prominent investors Stanley Druckenmiller and Dan Loeb bought the stock. These views may support sentiment, but they are not new operating developments. Billionaires piled into this AI stock
- Negative Sentiment: Prediction-market odds suggest Google could delay the next Gemini Pro release beyond September 30. A delay could leave Alphabet without a new flagship AI product in the near term and raise concerns about the pace of its generative-AI rollout. Gemini Pro delay leaves Google with an empty flagship tier
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $3,142,911.42. Following the completion of 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 451,945 shares of company stock valued at $12,382,714 over the last three months. Corporate insiders own 11.61% of the company's stock.
Alphabet Trading Up 0.9%
Shares of NASDAQ:GOOGL opened at $348.06 on Tuesday. The company's 50-day moving average price is $351.57 and its two-hundred day moving average price is $341.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a one year low of $205.28 and a one year high of $408.61. The stock has a market capitalization of $4.26 trillion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts forecast that Alphabet Inc. will post 20.51 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is presently 4.42%.
Alphabet Profile
(
Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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