Alphabet Inc. $GOOGL is Compass Capital Management Inc.'s 9th Largest Position

Compass Capital Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,470 shares of the information services provider's stock after selling 29,749 shares during the period. Alphabet makes up approximately 3.5% of Compass Capital Management Inc.'s holdings, making the stock its 9th biggest holding. Compass Capital Management Inc.'s holdings in Alphabet were worth $58,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Wealth Advisors LLC lifted its position in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after acquiring an additional 27 shares in the last quarter. Rockbridge Investment Management LCC increased its position in shares of Alphabet by 0.5% during the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after purchasing an additional 27 shares in the last quarter. Cadia Private Client LLC raised its stake in Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after purchasing an additional 28 shares during the last quarter. Midwest Professional Planners LTD. raised its stake in Alphabet by 1.2% in the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider's stock valued at $680,000 after purchasing an additional 29 shares during the last quarter. Finally, Symmetry Partners LLC lifted its holdings in Alphabet by 0.4% in the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after purchasing an additional 30 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOGL shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a report on Tuesday, April 28th. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Robert W. Baird increased their price target on Alphabet from $380.00 to $400.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Dbs Bank lifted their price objective on Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Finally, New Street Research boosted their price objective on Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. 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 company's stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Buy" and a consensus target price of $419.86.

Alphabet Price Performance

GOOGL stock opened at $354.30 on Friday. The business's fifty day moving average price is $355.68 and its 200 day moving average price is $340.41. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.33 trillion, a PE ratio of 17.80, a P/E/G ratio of 1.00 and a beta of 1.24.

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

Alphabet Dividend Announcement

The firm 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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's payout ratio is 4.42%.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 600,547 shares of company stock valued at $16,255,540 over the last quarter. Corporate insiders own 11.61% of the company's stock.

Key Stories Impacting Alphabet

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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