Alphabet Inc. $GOOGL is Vancity Investment Management Ltd's 9th Largest Position

Key Points

• Vancity Investment Management reduced its Alphabet stake by 4.8% in the second quarter, but GOOGL remains its ninth-largest holding, representing about 3.2% of the portfolio and valued at $21.1 million.
• Alphabet reported quarterly earnings of $9.11 per share on $119.8 billion in revenue, surpassing analyst expectations for both earnings and sales. The company also paid a quarterly dividend of $0.22 per share.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $422.16 versus the reported share price of $349.54. Key catalysts include AI-chip revenue, Cloud growth and Waymo expansion, while elevated AI spending, higher interest rates and antitrust restrictions remain risks.

Vancity Investment Management Ltd lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,044 shares of the information services provider's stock after selling 2,975 shares during the period. Alphabet makes up approximately 3.2% of Vancity Investment Management Ltd's portfolio, making the stock its 9th largest position. Vancity Investment Management Ltd's holdings in Alphabet were worth $21,101,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOOGL. Strategic Wealth Advisors LLC grew its position in Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after acquiring an additional 27 shares during the period. Rockbridge Investment Management LCC raised its position in Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after purchasing an additional 27 shares during the period. Ruggaard & Associates LLC raised its position in Alphabet by 0.9% in the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock valued at $840,000 after purchasing an additional 27 shares during the period. Cadia Private Client LLC lifted its stake in shares of 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. Finally, Evansbrook LLC lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock valued at $2,738,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $349.54 on Friday. The business has a 50-day moving average of $345.20 and a 200 day moving average of $344.91. Alphabet Inc. has a 12 month low of $235.84 and a 12 month high of $408.61. The stock has a market capitalization of $4.27 trillion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22. 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 (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. As a group, sell-side analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, September 7th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 4.42%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOGL. HSBC reiterated a "buy" rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Freedom Capital raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $395.00 target price (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, Tigress Financial reiterated a "strong-buy" rating and set a $485.00 price target (up from $415.00) on shares of Alphabet in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $422.16.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Walker sold 8,998 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 450,875 shares of company stock worth $11,984,482. 11.61% of the stock is currently owned by company insiders.

About Alphabet

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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