Aberdeen Wealth Management LLC Cuts Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Aberdeen Wealth Management cut its Alphabet stake by 41.1% in the second quarter, selling 5,845 shares and retaining 8,367 shares valued at approximately $2.99 million.
• Wall Street remains broadly bullish: Alphabet has a consensus “Buy” rating and an average price target of $420.19, with five analysts rating it a Strong Buy and 45 rating it a Buy.
• Alphabet recently reported stronger-than-expected results, including $9.11 in quarterly EPS and $119.8 billion in revenue, while expanding AI initiatives through Google Cloud, energy infrastructure and sustainability partnerships.

Aberdeen Wealth Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 41.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,367 shares of the information services provider's stock after selling 5,845 shares during the quarter. Alphabet accounts for about 1.4% of Aberdeen Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding. Aberdeen Wealth Management LLC's holdings in Alphabet were worth $2,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Wealth Advisors LLC increased its position in Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after acquiring an additional 27 shares during the last quarter. Rockbridge Investment Management LCC boosted its position in Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after purchasing an additional 27 shares during the last quarter. Ruggaard & Associates LLC grew its stake in shares of Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock valued at $840,000 after purchasing an additional 27 shares during the period. Cadia Private Client LLC grew its stake in shares of Alphabet by 1.1% during the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after purchasing an additional 28 shares during the period. Finally, Evansbrook LLC increased its position in shares of Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock valued at $2,738,000 after purchasing an additional 28 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. DZ Bank upgraded shares of Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Wells Fargo & Company set a $411.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Truist Financial set a $420.00 target price on Alphabet and gave the stock a "buy" rating in a report on Thursday, July 23rd. Finally, KeyCorp lifted their target price on Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Buy" and an average price target of $420.19.

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

Alphabet Stock Performance

NASDAQ GOOGL opened at $338.36 on Wednesday. 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 Inc. has a twelve month low of $233.23 and a twelve month high of $408.61. The business has a 50-day moving average price of $348.34 and a 200-day moving average price of $343.37. The firm has a market cap 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.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 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 for the quarter, compared to the consensus estimate of $117.07 billion. As a group, equities research analysts predict that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other news, Director Frances Arnold sold 82 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the completion of the transaction, the director directly owned 18,995 shares in the company, valued at approximately $6,414,801.45. This represents a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the transaction, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 451,925 shares of company stock worth $12,371,544. Corporate insiders own 11.61% of the company's stock.

Alphabet 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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