HS Management Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,093 shares of the information services provider's stock after selling 11,925 shares during the period. Alphabet comprises about 7.3% of HS Management Partners LLC's portfolio, making the stock its largest holding. HS Management Partners LLC's holdings in Alphabet were worth $21,233,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gerber Kawasaki Wealth & Investment Management raised its stake in shares of Alphabet by 1.0% during the 4th 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 in the last quarter. Heck Capital Advisors LLC grew its stake 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 buying an additional 16,647 shares in the last quarter. Violich Capital Management Inc. increased its holdings in Alphabet by 1.0% during the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock worth $106,936,000 after buying an additional 3,378 shares during the last quarter. Montchanin Asset Management LLC acquired a new position in Alphabet during the first quarter worth $7,075,000. Finally, Sax Wealth Advisors LLC increased its holdings in Alphabet by 13.3% during the second quarter. Sax Wealth Advisors LLC now owns 30,489 shares of the information services provider's stock worth $10,773,000 after buying an additional 3,575 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
NASDAQ:GOOG opened at $344.59 on Tuesday. Alphabet Inc. has a one year low of $205.95 and a one year high of $404.47. The company has a market cap of $4.21 trillion, a P/E ratio of 17.31, a P/E/G ratio of 0.96 and a beta of 1.23. The firm's fifty day moving average price is $349.89 and its two-hundred day moving average price is $339.72. 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 posted its earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 54.77% and a return on equity of 51.32%. Alphabet's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 EPS. Equities analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared 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 of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.
Wall Street Analyst Weigh In
A number of analysts have commented on GOOG shares. TD Cowen reiterated a "buy" rating and issued a $475.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. UBS Group reaffirmed a "neutral" rating and issued a $379.00 target price (down from $400.00) on shares of Alphabet in a report on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Zacks Research cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $395.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Six investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $415.55.
Check Out Our Latest Report on GOOG
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google is expanding Gemini’s commercial reach by allowing Wix users to create complete websites within Google’s AI assistant. The move could increase Gemini engagement and strengthen Alphabet’s position in generative AI applications. Google Is Turning Gemini Into a Website Builder
- Positive Sentiment: Google Cloud entered an enterprise AI partnership with Verizon, supporting Alphabet’s efforts to monetize AI infrastructure and services with large corporate customers. Alphabet's Google Cloud Enters Enterprise AI Partnership With Verizon
- Positive Sentiment: Investment commentary remains constructive on Alphabet’s sustainable growth outlook, citing its competitive advantages, strong profitability, revenue momentum and expanding cloud business. Alphabet’s Sustainable Growth Outlook Appears Stronger Than Expectations
- Positive Sentiment: Google reportedly plans to move all Pixel manufacturing out of China by 2027, shifting production toward Vietnam and India. The change could diversify supply chains and reduce geopolitical exposure, although transition costs remain possible. Google Plans to Move Pixel Manufacturing Out of China
- Neutral Sentiment: Alphabet was among the technology and social-media stocks showing strength, reflecting broader sector momentum rather than a company-specific catalyst. Social-Media Trade Splits
- Neutral Sentiment: Investors are watching a recently announced Google agreement with Marvell, which could provide additional insight into Alphabet’s AI hardware and data-center requirements when Marvell reports earnings. Marvell Earnings and Google Agreement
- Negative Sentiment: Analysts flagged negative free cash flow as a concern because Alphabet’s AI leadership requires heavy spending on data centers, chips and infrastructure. A potential $25 billion bond offering and reported off-balance-sheet commitments are also prompting capital-allocation questions. Alphabet Opinions on AI Advancements and Bond Offering
- Negative Sentiment: A delay in the next Gemini Pro release could leave Alphabet without a new flagship model tier in the near term, raising concerns about AI product execution and competitive pressure. Gemini Pro Delay
Insider Activity at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 451,945 shares of company stock valued at $12,382,714. 12.99% of the stock is currently owned by insiders.
Alphabet Company Profile
(
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.
Further Reading
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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