Alphabet Inc. $GOOG Shares Sold by Amundi

Key Points

• Amundi cut its Alphabet stake by 4.6% in the second quarter, selling 1.02 million shares but retaining 20.9 million shares valued at approximately $7.39 billion.
• Alphabet reported strong quarterly results, with revenue up 24.2% year over year to $119.8 billion and EPS of $9.11, significantly exceeding analyst expectations.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $415.55, though investors remain concerned about the potential impact of massive AI infrastructure spending on free cash flow.

Amundi decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,906,439 shares of the information services provider's stock after selling 1,015,940 shares during the period. Alphabet comprises about 1.8% of Amundi's holdings, making the stock its 9th largest holding. Amundi owned about 0.17% of Alphabet worth $7,386,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Denali Advisors LLC raised its position in shares of Alphabet by 14.8% during the second quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider's stock worth $37,449,000 after purchasing an additional 13,700 shares during the period. Gerber Kawasaki Wealth & Investment Management raised its stake in shares of Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after purchasing an additional 2,850 shares during the last quarter. Heck Capital Advisors LLC lifted its holdings in shares of Alphabet by 298.2% in the second quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider's stock valued at $7,854,000 after purchasing an additional 16,647 shares in the last quarter. Violich Capital Management Inc. boosted its position in shares of Alphabet by 1.0% during the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock valued at $106,936,000 after buying an additional 3,378 shares during the last quarter. Finally, Montchanin Asset Management LLC bought a new stake in Alphabet during the first quarter worth $7,075,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet announced a partnership with Morgan State University to establish an AI campus, potentially expanding long-term talent development, research access and adoption of Google Cloud and Gemini. Alphabet Morgan State University AI partnership
• Positive Sentiment: Google launched a dedicated Gemini app for Windows PCs, making its AI assistant more accessible and increasing the opportunity to drive usage across consumer devices and services. Gemini Windows app
• Positive Sentiment: Alphabet’s planned €13 billion investment in Finnish AI infrastructure, alongside a long-term agreement to purchase power from a nuclear plant, could provide reliable, lower-cost electricity for data centers and support Gemini, Search, Maps and YouTube. Google Finland AI infrastructure investment
• Positive Sentiment: Analysts and investment commentary continue to highlight Alphabet’s cloud growth, more than 20% revenue growth and strong recent earnings as evidence that the company can fund substantial AI investment while maintaining attractive profitability. Alphabet return on invested capital and cloud growth
• Neutral Sentiment: Reported short interest was listed at zero shares, unchanged from the prior report, so the data provide no meaningful evidence of short-covering pressure or growing bearish positioning.
• Negative Sentiment: Investors remain focused on the cost of Alphabet’s AI buildout. Estimates that AI capital expenditures could reach roughly $200 billion have raised concerns about pressure on free cash flow, even though the stock’s valuation is viewed as reasonable. Alphabet AI capital expenditures
• Negative Sentiment: Meta’s new Muse AI agent has renewed concerns that autonomous assistants could bypass traditional search pages and reduce Google search advertising opportunities. ARK Invest’s decision to sell approximately $28 million of Alphabet and buy Meta added to the competitive sentiment. Meta Muse competition
• Negative Sentiment: Potential regulation could increase infrastructure costs: proposed U.S. legislation would require large data-center users to pay the full incremental cost of power-grid upgrades, while Finnish officials have warned that Google’s expansion could strain electricity supply. Data Center Fair Share Act

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Pivotal Research increased their target price on shares of Alphabet from $470.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $460.00 to $420.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Morgan Stanley cut their target price on Alphabet from $415.00 to $400.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 price target on Alphabet in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $420.00 price target on Alphabet in a report on Wednesday, May 20th. Six research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $415.55.

Insider Activity

In related news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was 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 in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 451,925 shares of company stock worth $12,371,544 in the last three months. Insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.6%

NASDAQ:GOOG opened at $330.39 on Friday. The company has a market cap of $4.04 trillion, a P/E ratio of 16.59, a P/E/G ratio of 0.95 and a beta of 1.21. The stock's fifty day moving average price is $345.18 and its two-hundred day moving average price is $341.69. Alphabet Inc. has a 1 year low of $236.58 and a 1 year high of $404.47. 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:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a dividend of $0.22 per share. 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%.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google's core internet businesses from a collection of other ventures. Google remains Alphabet's largest business and serves users, advertisers, businesses and developers worldwide.

Google's principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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