13,069 Alphabet Inc. $GOOGL Shares Sold by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel reduced its Alphabet stake by 2.4% in the third quarter, selling 13,069 shares and retaining 526,673 shares valued at approximately $178.3 million. Alphabet remains the fund’s fourth-largest holding and represents 3.3% of its portfolio.
• Other major institutional investors—including State Street, Amundi, Mitsubishi UFJ Asset Management, Swiss National Bank, and Arrowstreet Capital—also increased their Alphabet positions; institutions and hedge funds collectively own 40.03% of the stock.
• Wall Street remains broadly bullish, with Alphabet receiving an average “Buy” rating and a $425.04 price target. Investors are focused on upcoming earnings, particularly cloud and advertising growth, AI spending, margins, and whether rising capital expenditures can generate sufficient returns.

Carnegie Investment Counsel lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 526,673 shares of the information services provider's stock after selling 13,069 shares during the period. Alphabet accounts for 3.3% of Carnegie Investment Counsel's holdings, making the stock its 4th biggest position. Carnegie Investment Counsel's holdings in Alphabet were worth $178,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. State Street Corp increased its stake in shares of Alphabet by 5.6% in the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider's stock worth $85,403,303,000 after acquiring an additional 12,718,127 shares during the period. Amundi raised its holdings in shares of Alphabet by 4.6% during the second quarter. Amundi now owns 33,203,350 shares of the information services provider's stock worth $11,865,809,000 after purchasing an additional 1,457,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 10.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider's stock worth $6,334,186,000 after purchasing an additional 1,631,721 shares during the last quarter. Swiss National Bank lifted its position in Alphabet by 7.1% during the first quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider's stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Alphabet by 90.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider's stock valued at $4,900,078,000 after purchasing an additional 8,112,680 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the transaction, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 118,834 shares of company stock valued at $2,465,703. 11.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GOOGL shares. JPMorgan Chase & Co. increased their price target on Alphabet from $420.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, October 15th. Wells Fargo & Company reissued an "overweight" rating and issued a $417.00 price objective (up from $411.00) on shares of Alphabet in a report on Tuesday, October 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $420.00 price objective on shares of Alphabet in a report on Monday, October 12th. UBS Group restated a "neutral" rating and issued a $380.00 target price (up from $379.00) on shares of Alphabet in a research note on Wednesday, October 14th. Finally, Truist Financial set a $420.00 target price on Alphabet and gave the stock a "buy" rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $425.04.

Alphabet Stock Performance

Shares of Alphabet stock opened at $320.21 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $255.32 and a twelve month high of $408.61. The firm has a market capitalization of $3.92 trillion, a PE ratio of 16.08, a P/E/G ratio of 0.92 and a beta of 1.21. The firm's 50-day moving average price is $342.79 and its 200 day moving average price is $353.19.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s AI investment story remains a potential long-term support. Analysts and investors point to rising demand for Google Cloud, internally developed TPU chips, advertising resilience, and the potential for Gemini and other AI products to drive future growth. Alphabet Investing Behind AI Demand and TPU Growth
• Positive Sentiment: Pre-earnings coverage remains constructive on Alphabet’s third-quarter outlook, citing AI adoption, cloud growth, and advertising strength. Erste Group also modestly raised its fiscal 2027 EPS forecast, while Citizens JMP maintained a “market outperform” rating despite lowering its price target. Pre-Q3 Earnings Alphabet Stock Outlook
• Neutral Sentiment: Alphabet’s quarterly preferred-stock dividend announcement is unlikely to materially affect GOOGL common shares. Investors are instead focused on operating results, capital expenditures, margins, and management’s AI spending guidance.
• Neutral Sentiment: The upcoming earnings report is the key near-term catalyst. Strong cloud and advertising metrics could help stabilize the stock, but investors may react negatively if capital spending rises faster than AI-related revenue and cash flow.
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud class actions against Alphabet concerning the May 19–July 16 trading period. The complaints allege that Alphabet failed to disclose important information about Gemini 3.5 Pro’s development and launch readiness; the allegations have not been proven. Lead-plaintiff deadlines are generally December 1, with one notice citing November 30. Kaplan Fox Alphabet Class Action Notice
• Negative Sentiment: A reported Google Cloud outage in London disrupted financial and public-sector services and prompted scrutiny from UK regulators and lawmakers, raising operational, reputational, and regulatory concerns. Alphabet Cloud Outage and Regulation
• Negative Sentiment: The broader AI sell-off is weighing on Alphabet as investors question whether enormous data-center, chip, power, and compute expenditures will generate adequate returns. Heavy spending is also contributing to concerns about future margins and valuation.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.

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