Alphabet Inc. $GOOGL Shares Acquired by Spirepoint Private Client LLC

Key Points

• Spirepoint Private Client LLC increased its Alphabet stake by 24% in the second quarter, purchasing 23,360 additional shares and bringing its holdings to 120,542 shares worth approximately $43.1 million.
• Alphabet reported quarterly EPS of $9.11, well above the $2.89 analyst consensus, while revenue reached $119.8 billion versus expectations of $117.07 billion.
• Despite broad institutional ownership and a consensus “Buy” rating with a $420.19 price target, Alphabet insiders sold 451,945 shares worth $12.4 million over the past three months; the company also announced a $0.22 quarterly dividend.

Spirepoint Private Client LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,542 shares of the information services provider's stock after purchasing an additional 23,360 shares during the quarter. Alphabet comprises approximately 3.5% of Spirepoint Private Client LLC's investment portfolio, making the stock its 5th biggest position. Spirepoint Private Client LLC's holdings in Alphabet were worth $43,078,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Mechanics Financial Corp grew its position in Alphabet by 0.7% during the second quarter. Mechanics Financial Corp now owns 20,178 shares of the information services provider's stock worth $7,211,000 after buying an additional 149 shares in the last quarter. Mosaic Family Wealth Partners LLC raised its stake in Alphabet by 133.9% in the second quarter. Mosaic Family Wealth Partners LLC now owns 22,599 shares of the information services provider's stock valued at $8,076,000 after purchasing an additional 12,938 shares in the last quarter. Capital Analysts LLC raised its stake in Alphabet by 20.4% in the second quarter. Capital Analysts LLC now owns 102,987 shares of the information services provider's stock valued at $36,804,000 after purchasing an additional 17,481 shares in the last quarter. Retirement Planning Group LLC lifted its position in Alphabet by 1.2% during the second quarter. Retirement Planning Group LLC now owns 16,203 shares of the information services provider's stock worth $5,791,000 after purchasing an additional 185 shares during the period. Finally, Donaldson Capital Management LLC lifted its position in Alphabet by 0.8% during the second quarter. Donaldson Capital Management LLC now owns 65,689 shares of the information services provider's stock worth $23,475,000 after purchasing an additional 553 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of the stock in a transaction 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 completion of the sale, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm'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 directly owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,945 shares of company stock worth $12,382,714 in the last three months. 11.61% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.4%

Shares of GOOGL opened at $342.00 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a 52 week low of $205.65 and a 52 week high of $408.61. The stock has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.97 and a beta of 1.24. The stock has a fifty day moving average of $350.61 and a 200-day moving average of $341.58.

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 analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analysts' expectations 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 anticipate that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. KeyCorp lifted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Robert W. Baird raised their target price on Alphabet from $380.00 to $400.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Guggenheim reissued a "buy" rating and set a $450.00 price target (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, BNP Paribas Exane upped their price objective on Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $420.19.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway increased its Alphabet stake by 83% to approximately $37.8 billion, providing a significant endorsement from a major long-term investor and reinforcing confidence in Alphabet’s search, cloud and AI businesses. Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding
• Positive Sentiment: Google is expanding Gemini Enterprise into regulated industries, including legal and financial services, creating potential for higher-value recurring cloud and AI revenue as enterprises adopt specialized agents. What Alphabet's Gemini Enterprise Push Into Regulated Industries Means For Shareholders
• Positive Sentiment: Alphabet-owned Waymo plans to enter Germany with driverless rides in 2027, offering a potential long-term growth avenue and demonstrating progress toward international commercialization. Waymo to launch driverless rides in Germany in 2027
• Neutral Sentiment: Google introduced new Gemini Live voice capabilities intended to let users complete multiple tasks without choosing among separate AI tools. The feature may improve engagement, although its near-term financial impact is unclear. Google's Gemini has a branding problem
• Negative Sentiment: A settlement involving Meta and U.S. state attorneys general has renewed scrutiny of how YouTube protects children and teenagers. Investors are concerned that similar requirements could impose substantial compliance costs or financial obligations on Alphabet. Why is Alphabet stock down today?
• Negative Sentiment: Alphabet moved its AI-responsibility team out of DeepMind, prompting concerns among researchers about independence and the team’s ability to identify risks in new models. The development adds governance and reputational uncertainty to the company’s aggressive AI rollout. Google Moves AI-Responsibility Team Out of DeepMind Lab
• Negative Sentiment: Reports that Nvidia-based AI server prices may rise by more than 15% could increase Alphabet’s infrastructure costs, adding pressure to margins as the company continues heavy AI capital spending. Alphabet Spends About 60 Cents of Every Technical Infrastructure Dollar on Servers

Alphabet Company 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.

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.

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