Alphabet Inc. $GOOGL Holdings Raised by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors increased its Alphabet stake by 3.9% in the third quarter, adding 2,258 shares to hold 59,761 shares worth about $20.6 million.
• Several other institutional investors also increased their positions, and institutions collectively own 40.03% of Alphabet’s stock. Analysts’ consensus rating is Buy, with an average price target of $412.51.
• Alphabet reported quarterly EPS of $2.12, below the $3.02 consensus estimate, and revenue of $127.58 billion, slightly below expectations. It also announced a quarterly dividend of $0.22 per share.

IPG Investment Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,761 shares of the information services provider's stock after buying an additional 2,258 shares during the period. Alphabet accounts for 2.9% of IPG Investment Advisors LLC's holdings, making the stock its 5th biggest holding. IPG Investment Advisors LLC's holdings in Alphabet were worth $20,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GOOGL. Titleist Asset Management LLC raised its stake in Alphabet by 6.4% during the 3rd quarter. Titleist Asset Management LLC now owns 34,613 shares of the information services provider's stock worth $11,909,000 after buying an additional 2,096 shares during the period. Elefante Mark B grew its stake in Alphabet by 4.5% in the second quarter. Elefante Mark B now owns 43,733 shares of the information services provider's stock valued at $15,629,000 after acquiring an additional 1,897 shares during the period. Nwam LLC grew its stake in Alphabet by 19.6% in the first quarter. Nwam LLC now owns 49,128 shares of the information services provider's stock valued at $14,127,000 after acquiring an additional 8,055 shares during the period. WCM Investment Management LLC grew its stake in Alphabet by 287.4% in the first quarter. WCM Investment Management LLC now owns 3,886 shares of the information services provider's stock valued at $1,063,000 after acquiring an additional 2,883 shares during the period. Finally, Spinnaker Investment Group LLC increased its holdings in shares of Alphabet by 51.4% during the second quarter. Spinnaker Investment Group LLC now owns 4,759 shares of the information services provider's stock valued at $1,701,000 after acquiring an additional 1,616 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOGL shares. KeyCorp lowered their target price on Alphabet from $410.00 to $385.00 and set an "overweight" rating on the stock in a research report on Thursday, October 29th. Cantor Fitzgerald reduced their price target on shares of Alphabet from $420.00 to $350.00 and set an "overweight" rating for the company in a research report on Thursday, October 29th. Royal Bank Of Canada decreased their price target on shares of Alphabet from $425.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, October 29th. Benchmark restated a "buy" rating on shares of Alphabet in a research note on Thursday, October 1st. Finally, Pivotal Research restated a "buy" rating and set a $475.00 price objective (up from $470.00) on shares of Alphabet in a report on Thursday, July 23rd. Five analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $412.51.

Alphabet Price Performance

GOOGL opened at $293.45 on Thursday. Alphabet Inc. has a 1 year low of $270.70 and a 1 year high of $408.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. The company has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 0.87 and a beta of 1.23. The firm's fifty day moving average price is $329.89 and its two-hundred day moving average price is $338.38.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The firm had revenue of $127.58 billion during the quarter, compared to analysts' expectations of $127.96 billion. As a group, analysts anticipate that Alphabet Inc. will post 19.81 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet's dividend payout ratio is presently 4.59%.

Alphabet News Summary

These are some of the GOOGL news items that stood out recently:

• Positive Sentiment: Google’s Gemini 4 Carbon scored near the top in an accounting AI benchmark, with Gemini 4 Argon ranking first. Strong results may support adoption of Google’s AI tools by businesses. Article: Google Now Has Two of the Top AI Models for Accounting Work
• Neutral Sentiment: Alphabet is reportedly planning its first bond sale in Hong Kong and Singapore, potentially raising about $3 billion. The sale could broaden funding sources for the company’s investments, while adding to investor focus on financing costs and AI spending. Article: Alphabet eyes $3 billion Hong Kong, Singapore bond sale
• Neutral Sentiment: Alphabet is among Anthropic’s major investors and cloud providers, with the company’s IPO potentially increasing the value of its stake and supporting Google Cloud demand. However, the reported additional investment is also a substantial capital commitment. Article: Anthropic's Trillion-Dollar IPO Could Give Cloud Giants a Double Win

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 247 shares of company stock valued at $79,238. Company insiders own 11.61% of the company's stock.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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.