Alphabet Inc. $GOOGL is Hyperion Capital Advisors LP's 5th Largest Position

Key Points

• Hyperion Capital Advisors cut its Alphabet position by 34.9% in the second quarter, selling 22,685 shares. Alphabet remains the fund’s fifth-largest holding, representing about 6.8% of its portfolio and worth $15.1 million.
• Alphabet reported strong quarterly results, with $9.11 in adjusted EPS and $119.8 billion in revenue, exceeding analyst expectations. Wall Street maintains a “Buy” consensus with an average price target of $420.19.
• Alphabet is expanding its AI infrastructure and commercial efforts through a Google Cloud partnership with Accenture, nuclear-power support for data centers, and expanded AI trials with Cathay Pacific.

Hyperion Capital Advisors LP lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,224 shares of the information services provider's stock after selling 22,685 shares during the quarter. Alphabet makes up approximately 6.8% of Hyperion Capital Advisors LP's holdings, making the stock its 5th biggest holding. Hyperion Capital Advisors LP's holdings in Alphabet were worth $15,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Wayfinding Financial LLC increased its stake in shares of Alphabet by 3.1% in the second quarter. Wayfinding Financial LLC now owns 4,702 shares of the information services provider's stock valued at $1,680,000 after purchasing an additional 143 shares during the period. Vega Investment Solutions raised its holdings in shares of Alphabet by 1.1% during the 2nd quarter. Vega Investment Solutions now owns 23,295 shares of the information services provider's stock valued at $8,325,000 after purchasing an additional 264 shares in the last quarter. Twin Peaks Wealth Advisors LLC boosted its stake in shares of Alphabet by 4.0% during the 2nd quarter. Twin Peaks Wealth Advisors LLC now owns 12,022 shares of the information services provider's stock worth $4,296,000 after acquiring an additional 467 shares in the last quarter. Visionary Wealth Advisors lifted its stake in shares of Alphabet by 1.1% in the second quarter. Visionary Wealth Advisors now owns 21,347 shares of the information services provider's stock worth $7,629,000 after buying an additional 230 shares during the last quarter. Finally, Capstone Wealth Management Inc. acquired a new stake in shares of Alphabet in the second quarter valued at about $216,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud expands enterprise AI push: Alphabet and Accenture are launching a joint unit with 1,000 forward-deployed engineers to help businesses implement Google’s AI tools. The partnership could accelerate Cloud adoption, improve monetization and help Alphabet compete more effectively with Microsoft and Amazon. Google Cloud races to catch up in the AI deployment wars with Accenture deal
• Positive Sentiment: Potential power support for AI infrastructure: The U.S. government approved a $1.9 billion loan to NextEra Energy to refurbish an Iowa nuclear plant that Google plans to use for power. Reliable, low-carbon electricity could help support Alphabet’s growing data-center demand, although the benefits are longer term. Google's revived nuclear power plant gets $1.9B loan from US government
• Positive Sentiment: Google and Cathay Pacific expanded trials of AI technology designed to reduce aircraft contrail warming, adding a potential sustainability and commercial-use case for Google’s AI capabilities. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails

Insider Buying and Selling

In other news, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the sale, the director owned 18,995 shares of the company's stock, valued at approximately $6,414,801.45. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 451,925 shares of company stock worth $12,371,544. 11.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Loop Capital boosted their price target on shares of Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Piper Sandler reaffirmed an "overweight" rating and set a $395.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a research report on Wednesday, June 3rd. Pivotal Research reaffirmed a "buy" rating and set a $475.00 target price (up from $470.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, DZ Bank upgraded Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $420.19.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $338.36 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 1 year low of $233.23 and a 1 year high of $408.61. The company has a market cap of $4.14 trillion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.98 and a beta of 1.22. The stock's 50 day simple moving average is $348.34 and its two-hundred day simple moving average is $343.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion during 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%. As a group, equities analysts anticipate that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Alphabet Company Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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