71 West Capital Partners raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,745 shares of the information services provider's stock after buying an additional 14,134 shares during the period. Alphabet accounts for approximately 1.9% of 71 West Capital Partners' portfolio, making the stock its 8th biggest holding. 71 West Capital Partners' holdings in Alphabet were worth $53,514,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the fourth quarter valued at about $32,000. EMC Capital Management acquired a new stake in Alphabet in the 4th quarter valued at approximately $33,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter worth approximately $52,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Alphabet during the third quarter worth approximately $53,000. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares in the company, valued at $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 is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 451,945 shares of company stock valued at $12,382,714. 11.61% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Pivotal Research reaffirmed a "buy" rating and set a $475.00 target price (up from $470.00) on shares of Alphabet in a research report on Thursday, July 23rd. Needham & Company LLC reissued a "buy" rating and issued a $450.00 price target on shares of Alphabet in a report on Wednesday, June 3rd. Susquehanna restated a "positive" rating and issued a $460.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Daiwa Securities Group boosted their price objective on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, UBS Group reduced their target price on shares of Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $420.19.
Read Our Latest Report on Alphabet
Key Headlines Impacting Alphabet
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
Alphabet Stock Performance
NASDAQ GOOGL opened at $348.06 on Tuesday. The stock has a market cap of $4.26 trillion, a P/E ratio of 17.48, a PEG ratio of 0.97 and a beta of 1.24. The company's 50-day simple moving average is $351.57 and its 200 day simple moving average is $341.41. Alphabet Inc. has a twelve month low of $205.28 and a twelve month high of $408.61. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. As a group, research analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's payout ratio is currently 4.42%.
About Alphabet
(
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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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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