Alberta Investment Management Corp cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,000 shares of the information services provider's stock after selling 25,000 shares during the quarter. Alberta Investment Management Corp's holdings in Alphabet were worth $87,556,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilkinson Global Asset Management LLC increased its stake in Alphabet by 3.8% in the second quarter. Wilkinson Global Asset Management LLC now owns 2,037 shares of the information services provider's stock valued at $728,000 after acquiring an additional 75 shares during the last quarter. Dodds Wealth LLC boosted its stake in Alphabet by 6.0% in the second quarter. Dodds Wealth LLC now owns 3,150 shares of the information services provider's stock valued at $1,126,000 after buying an additional 179 shares in the last quarter. Silverlake Wealth Management LLC lifted its stake in shares of Alphabet by 1.7% in the 2nd quarter. Silverlake Wealth Management LLC now owns 5,221 shares of the information services provider's stock valued at $1,866,000 after acquiring an additional 86 shares during the last quarter. Salus Financial Advisors LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $238,000. Finally, Concentrum Wealth Management grew its position in shares of Alphabet by 2.7% in the 2nd quarter. Concentrum Wealth Management now owns 11,617 shares of the information services provider's stock valued at $4,152,000 after buying an additional 307 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,843 shares of company stock valued at $12,343,852 in the last ninety days. Insiders own 11.61% of the company's stock.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud and AI remain the main growth drivers. Rising Cloud revenue, AI adoption and a reported $514 billion backlog strengthen Alphabet’s competitive position against Microsoft and Amazon, although capacity constraints could limit near-term execution. Rising Cloud Revenue Strengthens Alphabet Against MSFT & AMZN
- Positive Sentiment: New Gemini and AI Mode features could increase user engagement and monetization. Google is expanding AI Mode to track flight prices and assist with hotel bookings, while reviews of its personal-intelligence tools suggest broader consumer adoption. Employees are also reportedly testing a next-generation Gemini Flash model. Google's AI Mode can now track flight prices, help book hotels, and more
- Positive Sentiment: Analyst sentiment and technical momentum remain favorable. Brokerages maintain an average “Buy” recommendation, while technical commentary points to support above approximately $340. Alphabet’s valuation, margins and cash generation are viewed as attractive relative to many AI peers. Alphabet Receives Average Recommendation of Buy
- Positive Sentiment: Alphabet’s custom-chip strategy is creating demand for AI infrastructure. Marvell’s large Google-related AI-chip opportunity highlights Alphabet’s willingness to invest in proprietary computing capacity, potentially supporting long-term performance and reducing reliance on outside suppliers. Marvell’s Google AI-chip opportunity
- Neutral Sentiment: Google changed its European spam and site-reputation policy. The adjustment is intended to address European Commission concerns and reduce the risk of an antitrust fine, but it may affect how Google ranks publisher content and reflects ongoing regulatory pressure. Google changes spam policy in EU to avert antitrust fine
- Negative Sentiment: Legal risks continue to weigh on the investment case. Multiple law firms announced securities-fraud investigations, while Google agreed to a $353 million settlement with UK app developers. These announcements do not establish wrongdoing but could create financial and reputational costs. Google agrees to settle UK app developers’ lawsuit
- Negative Sentiment: The FTC is reportedly considering action involving YouTube. The investigation concerns account suspensions and possible consumer-protection violations, adding another regulatory overhang for Alphabet. US FTC probes YouTube over social media policies
Alphabet Price Performance
NASDAQ GOOGL opened at $346.59 on Friday. Alphabet Inc. has a 1-year low of $206.20 and a 1-year high of $408.61. The business's fifty day moving average price is $349.62 and its 200-day moving average price is $341.74. The stock has a market capitalization of $4.24 trillion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.96 and a beta of 1.24. 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 posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 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 firm had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts predict that Alphabet Inc. will post 20.5 earnings per share for the current year.
Alphabet Dividend Announcement
The firm 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 4.42%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Friday, July 17th. BMO Capital Markets set a $465.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Thursday, July 23rd. DA Davidson set a $350.00 price target on Alphabet and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Pivotal Research reissued a "buy" rating and set a $475.00 price objective (up from $470.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, HSBC reaffirmed a "buy" rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Six research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $420.19.
Check Out Our Latest Research Report on GOOGL
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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