Alphabet Inc. $GOOGL Shares Bought by Ackerman Capital Advisors LLC

Key Points

• Ackerman Capital Advisors increased its Alphabet stake by 33.1% in the third quarter, buying 2,951 shares to hold 11,865 shares worth about $4.08 million.
• Alphabet reported quarterly earnings of $2.12 per share, below the $3.02 analyst consensus; revenue of $127.58 billion also fell slightly short of estimates.
• Analysts’ consensus rating remained Buy, with an average price target of $412.51, although recent firms issued a wide range of target changes.

Ackerman Capital Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 33.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,865 shares of the information services provider's stock after purchasing an additional 2,951 shares during the period. Ackerman Capital Advisors LLC's holdings in Alphabet were worth $4,083,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Alphabet by 5.6% in the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider's stock valued at $85,403,303,000 after purchasing an additional 12,718,127 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Alphabet by 90.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider's stock valued at $4,900,078,000 after acquiring an additional 8,112,680 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Alphabet during the third quarter worth approximately $1,612,704,000. Amundi increased its position in Alphabet by 12.7% in the first quarter. Amundi now owns 31,745,979 shares of the information services provider's stock worth $9,128,850,000 after purchasing an additional 3,574,810 shares during the period. Finally, Jupiter Topco LLC acquired a new position in Alphabet during the second quarter valued at approximately $1,058,385,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 2.1%

NASDAQ GOOGL opened at $293.45 on Thursday. The business's 50-day moving average is $329.89 and its 200 day moving average is $338.38. The stock has a market capitalization of $3.61 trillion, a PE ratio of 15.00, a PEG ratio of 0.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. Alphabet Inc. has a 1 year low of $270.70 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The business had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.96 billion. Sell-side analysts forecast that Alphabet Inc. will post 19.81 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be given a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 4.59%.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 247 shares of company stock valued at $79,238 over the last three months. Corporate insiders own 11.61% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. BMO Capital Markets reiterated an "outperform" rating and issued a $480.00 target price (up from $465.00) on shares of Alphabet in a research note on Tuesday, October 20th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $325.00 price objective (down from $385.00) on shares of Alphabet in a research note on Thursday, October 29th. 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 note on Thursday, September 17th. Cantor Fitzgerald reduced their price objective on Alphabet from $420.00 to $350.00 and set an "overweight" rating for the company in a research note on Thursday, October 29th. Finally, DA Davidson dropped their price objective on Alphabet from $350.00 to $300.00 and set a "neutral" rating on the stock in a report on Thursday, October 29th. Five analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus price target of $412.51.

Top Alphabet Stories

Investors following GOOGL have been watching these stories:

• Positive Sentiment: Alphabet unveiled two new AI-focused TPU systems, broadening its in-house chip lineup and potentially reducing reliance on outside suppliers. The push could strengthen Google Cloud’s competitiveness, though investors are weighing the investment required against returns. Article: Alphabet Escalates AI Chip Rivalry With NVIDIA
• Neutral Sentiment: Alphabet is reportedly planning its first bond sale in Hong Kong and Singapore, potentially raising about $3 billion. The sale could broaden funding sources for the company’s investments, while adding to investor focus on financing costs and AI spending. Article: Alphabet eyes $3 billion Hong Kong, Singapore bond sale
• Neutral Sentiment: Alphabet is among Anthropic’s major investors and cloud providers, with the company’s IPO potentially increasing the value of its stake and supporting Google Cloud demand. However, the reported additional investment is also a substantial capital commitment. Article: Anthropic's Trillion-Dollar IPO Could Give Cloud Giants a Double Win

Alphabet Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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