7,146 Shares in Alphabet Inc. $GOOGL Bought by Fiduciary Financial Advisors

Key Points

• Fiduciary Financial Advisors acquired 7,146 Alphabet shares in the second quarter, valued at approximately $2.55 million. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet reported quarterly revenue of $119.8 billion and EPS of $9.11, exceeding analyst expectations. Analysts maintain a consensus “Buy” rating with an average price target of $420.19.
• Alphabet is expanding its AI infrastructure and enterprise efforts through a Google Cloud partnership with Accenture, nuclear-power support for data centers, and expanded AI trials with Cathay Pacific.

Fiduciary Financial Advisors acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,146 shares of the information services provider's stock, valued at approximately $2,550,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Alphabet in the fourth quarter worth about $30,534,239,000. Cardano Risk Management B.V. raised its position in Alphabet by 855.3% during the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock valued at $4,546,413,000 after purchasing an additional 13,004,828 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after buying an additional 12,531,695 shares during the period. Capital World Investors grew its position in shares of Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after buying an additional 11,605,785 shares in the last quarter. Finally, Diamant Asset Management Inc. increased its stake in shares of Alphabet by 28,950.0% during the first quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock valued at $2,671,986,000 after buying an additional 9,259,940 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud expands enterprise AI push: Alphabet and Accenture are launching a joint unit with 1,000 forward-deployed engineers to help businesses implement Google’s AI tools. The partnership could accelerate Cloud adoption, improve monetization and help Alphabet compete more effectively with Microsoft and Amazon. Google Cloud races to catch up in the AI deployment wars with Accenture deal
• Positive Sentiment: Potential power support for AI infrastructure: The U.S. government approved a $1.9 billion loan to NextEra Energy to refurbish an Iowa nuclear plant that Google plans to use for power. Reliable, low-carbon electricity could help support Alphabet’s growing data-center demand, although the benefits are longer term. Google's revived nuclear power plant gets $1.9B loan from US government
• Positive Sentiment: Google and Cathay Pacific expanded trials of AI technology designed to reduce aircraft contrail warming, adding a potential sustainability and commercial-use case for Google’s AI capabilities. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $337.71, for a total transaction of $27,692.22. Following the sale, the director directly owned 18,995 shares in the company, valued at approximately $6,414,801.45. The trade was a 0.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 451,925 shares of company stock valued at $12,371,544 in the last 90 days. Company insiders own 11.61% of the company's stock.

Alphabet Trading Down 0.0%

GOOGL opened at $338.36 on Wednesday. The firm has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company's 50 day simple moving average is $348.34 and its two-hundred day simple moving average is $343.37. Alphabet Inc. has a 1-year low of $233.23 and a 1-year high of $408.61. 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 (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping 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 firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Analysts expect that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's payout ratio is presently 4.42%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $425.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Barclays reissued an "overweight" rating and set a $425.00 price objective (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Roth Capital restated a "buy" rating and set a $440.00 target price (up from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Loop Capital boosted their target price on shares of Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $420.19.

Alphabet Company Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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