Alphabet Inc. $GOOGL is Carmignac Gestion's 4th Largest Position

Key Points

• Carmignac Gestion ranks Alphabet as its fourth-largest holding, with 1.35 million shares valued at approximately $386.8 million after trimming the position by 0.1% in the first quarter. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet reported quarterly EPS of $9.11, far exceeding the $2.89 analyst consensus, while revenue reached $119.8 billion versus expectations of $117.07 billion.
• Analysts maintain a generally positive view, with the stock carrying a consensus “Buy” rating and an average price target of $419.86. Alphabet also declared a quarterly dividend of $0.22 per share, equal to a 0.2% annualized yield.

Carmignac Gestion trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,345,592 shares of the information services provider's stock after selling 1,514 shares during the period. Alphabet accounts for 5.9% of Carmignac Gestion's holdings, making the stock its 4th biggest position. Carmignac Gestion's holdings in Alphabet were worth $386,765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GOOGL. Strategic Wealth Advisors LLC lifted its stake in Alphabet by 6.0% in the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after buying an additional 27 shares in the last quarter. Rockbridge Investment Management LCC boosted its holdings in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after buying an additional 27 shares during the last quarter. Ruggaard & Associates LLC boosted its holdings in Alphabet by 0.9% in the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock worth $840,000 after buying an additional 27 shares during the last quarter. Cadia Private Client LLC increased its stake in Alphabet by 1.1% during the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock worth $744,000 after buying an additional 28 shares in the last quarter. Finally, Evansbrook LLC increased its stake in Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $354.30 on Monday. The firm has a market cap of $4.33 trillion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61. The company's 50-day moving average price is $355.68 and its 200 day moving average price is $340.49. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. On average, sell-side analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Dbs Bank raised their target price on Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $393.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. Piper Sandler reiterated 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. Roth Capital reissued a "buy" rating and issued a $440.00 price objective (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, BNP Paribas Exane raised their price objective on Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $419.86.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 600,547 shares of company stock worth $16,255,540. 11.61% of the stock is currently owned by insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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