Alphabet Inc. $GOOG Shares Sold by Moran Wealth Management LLC

Key Points

• Moran Wealth Management reduced its Alphabet stake by 4% in the second quarter, selling 3,084 shares and retaining 73,884 shares valued at approximately $26.1 million.
• Alphabet reported strong quarterly results, with revenue up 24.2% year over year to $119.8 billion and earnings of $9.11 per share, well above analyst expectations of $2.87.
• Analysts remain broadly bullish, giving Alphabet an average “Buy” rating and a consensus price target of $415.55, while company insiders sold approximately $12.4 million of stock over the past three months.

Moran Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 73,884 shares of the information services provider's stock after selling 3,084 shares during the quarter. Alphabet makes up about 0.7% of Moran Wealth Management LLC's investment portfolio, making the stock its 28th biggest position. Moran Wealth Management LLC's holdings in Alphabet were worth $26,105,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Imprint Wealth LLC purchased a new position in Alphabet during the third quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet in the 4th quarter valued at about $38,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet during the 4th quarter valued at about $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $41,000. Finally, Towne Trust Company N.A boosted its position in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

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 that occurred on 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 is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the 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 transaction, the chief accounting officer 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. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 451,945 shares of company stock worth $12,382,714. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $338.20 on Friday. Alphabet Inc. has a 12-month low of $200.40 and a 12-month high of $404.47. The company has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The firm's fifty day moving average price is $350.67 and its 200 day moving average price is $339.72.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, beating 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%. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 EPS. On average, research analysts forecast that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Wedbush assumed coverage on shares of Alphabet in a report on Thursday, July 16th. They issued an "outperform" rating and a $445.00 target price for the company. Roth Capital lifted their price target on shares of Alphabet from $435.00 to $440.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. lowered 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. Citigroup restated a "market outperform" rating on shares of Alphabet in a report on Friday, August 14th. Finally, Wells Fargo & Company cut their target price on Alphabet from $418.00 to $411.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Buy" and an average price target of $415.55.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway increased its Alphabet position: Berkshire disclosed that it raised its Alphabet stake by 83% in the second quarter to nearly 106 million shares valued at approximately $37.8 billion. Warren Buffett said the investment was his idea, providing a significant vote of confidence in Alphabet’s valuation and AI prospects. Warren Buffett’s Empire Just Made a Massive AI Bet Nobody Saw Coming
• Positive Sentiment: Analyst remains bullish: Rosenblatt Securities initiated coverage with a “Buy” rating, while analyst Scott Devitt reportedly expects Alphabet to reach a new record high over the next 12 months. This may help counter recent concerns about the stock’s pullback. Alphabet receives Rosenblatt Buy rating
• Positive Sentiment: Waymo expanded its commercial technology: Alphabet’s autonomous-driving unit introduced an in-house chip capable of more than 1,000 trillion operations per second and opened its cheaper next-generation robotaxi to all riders in Los Angeles, Phoenix and San Francisco. The moves could reduce reliance on Nvidia and lower fleet costs over time. Waymo’s cheaper, next-gen robotaxi is now open to all riders
• Neutral Sentiment: Google is broadening AI monetization: New Gemini Enterprise coding capabilities, student tools and publisher “favorite source” controls support product adoption, although their near-term revenue impact remains uncertain. Google launches new study tools
• Negative Sentiment: AI spending is increasing financial pressure: Alphabet raised approximately $3.9 billion in its first Australian-dollar bond sale as it funds its AI infrastructure expansion. Borrowing supports growth but raises interest costs and reinforces investor concerns about the scale of capital expenditures. Alphabet raises $3.9 billion in Australian bond sale
• Negative Sentiment: Marvell adds competitive risk: Google agreed to develop custom silicon with Marvell and received warrants to potentially acquire nearly 59 million Marvell shares. The arrangement could diversify Google’s supply chain but raises questions about Broadcom’s share of Google’s TPU ecosystem and the cost of maintaining multiple chip partnerships. Marvell pops on Google AI chip deal
• Negative Sentiment: Execution and legal concerns remain: Prediction markets indicate a likely delay for Google’s flagship Gemini Pro release, while a court postponed approval of Google’s $10 million Spirit Airlines data purchase after union objections over confidential information. Former Google chief scientist Jeff Dean’s departure also adds to leadership uncertainty in AI. Traders bet Google’s delayed Gemini flagship will slip into autumn

Alphabet Profile

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.

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