Alphabet Inc. $GOOG Stock Sold by Grandview Asset Management LLC

Key Points

• Grandview Asset Management cut its Alphabet stake by 53.2% in the third quarter, selling 17,382 shares and retaining 15,307 shares worth approximately $5.2 million. Other institutional investors mostly increased their positions, while institutions collectively own 27.26% of Alphabet.
• Alphabet reported strong quarterly results, with $9.11 in earnings per share and $119.8 billion in revenue, surpassing analyst expectations; revenue rose 24.2% year over year.
• Despite the stock trading down 1.6% at $330.91, Wall Street remains positive: Alphabet carries a consensus “Buy” rating and an average price target of $421.85, supported by optimism around cloud growth, AI demand and Waymo expansion.

Grandview Asset Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 53.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,307 shares of the information services provider's stock after selling 17,382 shares during the period. Alphabet makes up about 1.4% of Grandview Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Grandview Asset Management LLC's holdings in Alphabet were worth $5,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GOOG. Retirement Planning Group LLC raised its position in Alphabet by 4.6% in the third quarter. Retirement Planning Group LLC now owns 21,217 shares of the information services provider's stock valued at $7,230,000 after purchasing an additional 934 shares during the period. Secure Asset Management LLC lifted its stake in shares of Alphabet by 17.2% during the third quarter. Secure Asset Management LLC now owns 10,942 shares of the information services provider's stock worth $3,729,000 after purchasing an additional 1,604 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its stake in shares of Alphabet by 0.5% during the third quarter. Blue Zone Wealth Advisors LLC now owns 27,622 shares of the information services provider's stock worth $9,412,000 after purchasing an additional 136 shares in the last quarter. Breachway Investments LLC lifted its stake in shares of Alphabet by 16.6% during the third quarter. Breachway Investments LLC now owns 845 shares of the information services provider's stock worth $288,000 after purchasing an additional 120 shares in the last quarter. Finally, Equita Financial Network Inc. boosted its position in shares of Alphabet by 284.0% in the third quarter. Equita Financial Network Inc. now owns 5,653 shares of the information services provider's stock worth $1,926,000 after buying an additional 4,181 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 83 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly owned 19,076 shares of the company's stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 339,182 shares of company stock valued at $6,740,093 in the last three months. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Down 1.6%

Shares of GOOG opened at $330.91 on Thursday. The company has a market capitalization of $4.05 trillion, a P/E ratio of 16.62, a P/E/G ratio of 0.97 and a beta of 1.19. Alphabet Inc. has a one year low of $250.45 and a one year high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The stock has a 50-day moving average price of $340.41 and a 200 day moving average price of $350.26.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued 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. 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 analyst estimates of $116.53 billion. During the same quarter last year, the firm earned $2.31 EPS. Alphabet's quarterly revenue was up 24.2% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 20.60 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Wedbush started coverage on Alphabet in a report on Thursday, July 16th. They set an "outperform" rating and a $445.00 target price on the stock. Oppenheimer reissued an "outperform" rating and set a $400.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Moffett Nathanson reduced their price target on Alphabet from $380.00 to $370.00 and set a "buy" rating on the stock in a research report on Wednesday, September 16th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Alphabet in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus price target of $421.85.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reached an agreement to make OpenAI’s latest models and Codex coding agent available through Google Cloud. The deal could increase cloud demand, improve infrastructure utilization and strengthen Google’s position in enterprise AI. OpenAI to sell its top models on Google Cloud
• Positive Sentiment: Analysts and investors continue to point to accelerating Google Cloud growth, rising demand for Alphabet’s custom AI chips and resilient Search revenue as potential catalysts for the upcoming earnings report. Bank of America expects a modest third-quarter beat, while several analysts maintain bullish long-term targets. Alphabet set for earnings beat
• Positive Sentiment: Waymo expanded its autonomous ride-hailing service to Las Vegas airport and plans further international and fleet expansion, providing Alphabet with a potential long-term growth avenue beyond advertising and cloud. Waymo starts offering rides at the Las Vegas airport

About Alphabet

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google's principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.

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