Hikari Power Ltd trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 110,990 shares of the information services provider's stock after selling 8,010 shares during the period. Alphabet comprises 4.6% of Hikari Power Ltd's investment portfolio, making the stock its 4th biggest position. Hikari Power Ltd's holdings in Alphabet were worth $39,216,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock worth $330,886,000 after purchasing an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Alphabet in the 2nd quarter valued at $658,000. Financial Advisors Network Inc. grew its stake in Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock valued at $1,409,000 after purchasing an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. increased its position in shares of Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock valued at $6,618,000 after purchasing an additional 3,616 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on GOOG shares. Zacks Research cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Scotiabank restated an "outperform" rating and set a $450.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Pivotal Research raised their price objective on shares of Alphabet from $470.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Freedom Capital raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley lowered their price objective on shares of Alphabet from $415.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Buy" and a consensus price target of $415.55.
Get Our Latest Report on Alphabet
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: AI infrastructure expansion: Alphabet’s expanded custom-silicon relationship with Marvell covers components connected to Google’s TPU ecosystem, including inference accelerators, networking, storage, and memory products. The agreement gives Alphabet more supply-chain flexibility and supports continued AI capacity growth, although it may increase dependence on multiple chip partners. Jensen Huang Thinks This Chip Stock Could Hit $1 Trillion
- Positive Sentiment: Waymo growth: Alphabet’s autonomous-driving unit received approval to operate thousands of robotaxis in Nevada and has expanded its lower-cost next-generation vehicles to riders in Los Angeles, Phoenix, and San Francisco. Waymo also introduced a custom AI chip designed to reduce reliance on Nvidia and AMD, potentially improving long-term economics. Robotaxi Permits in Nevada
- Positive Sentiment: Investor and analyst support: Berkshire Hathaway significantly increased its Alphabet position, reinforcing the view that the company fits a value-oriented investment strategy. Rosenblatt initiated coverage with a “Buy” rating, while analysts continue to point to resilient Search, fast-growing Cloud, and strong earnings momentum. Berkshire’s Alphabet Investment
- Neutral Sentiment: DeepMind leadership transition: Nobel Prize-winning co-founder Demis Hassabis is moving from day-to-day management to chairman and chief scientist roles, while Koray Kavukcuoglu will oversee operations. The change could improve Alphabet-wide AI coordination, but investors may monitor execution and retention risks. DeepMind Leadership Change
- Negative Sentiment: Firebase enforcement risk: Indian authorities directed Google to remove hundreds of Firebase accounts allegedly used in bank impersonation scams. The action could increase compliance costs and renew concerns about misuse of Alphabet’s platforms. India Orders Removal of Firebase Accounts
Insiders Place Their Bets
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 451,945 shares of company stock valued at $12,382,714 in the last ninety days. Corporate insiders own 12.99% of the company's stock.
Alphabet Stock Up 1.0%
GOOG opened at $341.75 on Friday. Alphabet Inc. has a 12 month low of $202.13 and a 12 month high of $404.47. The company has a 50 day moving average of $350.34 and a 200 day moving average of $339.73. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.18 trillion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a dividend of $0.22 per share. 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 4.42%.
About Alphabet
(
Free Report)
Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
See Also
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - 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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