Alphabet Inc. $GOOGL Shares Bought by James Hambro & Partners LLP

Key Points

• James Hambro & Partners increased its Alphabet position by 11.4% in the third quarter, bringing its holdings to 43,716 shares valued at approximately $15 million. Several other institutional investors also added shares, while institutional ownership stands at 40.03%.
• Alphabet reported quarterly revenue of $119.8 billion and earnings per share of $9.11, exceeding analyst expectations. Google Cloud growth, AI infrastructure demand, and Gemini are cited as key potential drivers, and analysts maintain a consensus “Buy” rating with an average price target of $425.04.
• GOOGL opened at $324.22, down 3.1%, below its 50-day and 200-day moving averages. Despite bullish analyst sentiment, insiders sold more than 315,000 shares worth approximately $6.3 million over the past 90 days.

James Hambro & Partners LLP boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,716 shares of the information services provider's stock after buying an additional 4,461 shares during the quarter. Alphabet accounts for approximately 0.5% of James Hambro & Partners LLP's investment portfolio, making the stock its 20th largest position. James Hambro & Partners LLP's holdings in Alphabet were worth $15,046,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Richards Merrill & Peterson Inc. raised its stake in shares of Alphabet by 8.6% in the third quarter. Richards Merrill & Peterson Inc. now owns 27,870 shares of the information services provider's stock valued at $9,590,000 after acquiring an additional 2,208 shares during the period. New Wave Wealth Advisors LLC lifted its holdings in shares of Alphabet by 7.0% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 10,195 shares of the information services provider's stock worth $3,607,000 after acquiring an additional 669 shares during the last quarter. Talbot Financial LLC lifted its holdings in shares of Alphabet by 0.3% in the 3rd quarter. Talbot Financial LLC now owns 14,492 shares of the information services provider's stock worth $4,986,000 after acquiring an additional 49 shares during the last quarter. Prairie Advisory LLC boosted its stake in shares of Alphabet by 99.5% during the 3rd quarter. Prairie Advisory LLC now owns 17,102 shares of the information services provider's stock worth $5,885,000 after purchasing an additional 8,529 shares during the period. Finally, OceanIQ Capital LLC boosted its stake in shares of Alphabet by 18.5% during the 3rd quarter. OceanIQ Capital LLC now owns 21,473 shares of the information services provider's stock worth $7,597,000 after purchasing an additional 3,347 shares during the period. Institutional investors own 40.03% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud and AI demand remain key bullish factors. Coverage highlights accelerating Google Cloud growth, expanding demand for AI infrastructure, and Alphabet’s Gemini models and in-house chips as potential drivers of future revenue and margins. OpenAI’s decision to make its models available through Google Cloud could also increase enterprise cloud usage. OpenAI to bring AI models to Google's cloud
• Positive Sentiment: Some analysts see substantial upside. Bullish commentary points to strong search and cloud fundamentals, a lower valuation than many large technology peers, and potential upside if Alphabet demonstrates that AI spending is translating into durable growth. TikTok’s reported shift of advertising toward YouTube may provide an additional, though smaller, benefit. Alphabet could still have room to run
• Positive Sentiment: Citizens JMP maintained an outperform rating. The firm lowered its price target from $515 to $450, but the revised target still implies considerable potential appreciation from current levels. Banking giant cuts Google stock price target

Alphabet Trading Down 3.1%

Shares of NASDAQ:GOOGL opened at $324.22 on Friday. The company has a market capitalization of $3.97 trillion, a PE ratio of 16.28, a P/E/G ratio of 0.97 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $251.85 and a 12-month high of $408.61. The business's fifty day simple moving average is $343.31 and its 200-day simple moving average is $353.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. The firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. As a group, equities research analysts predict that Alphabet Inc. will post 20.60 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 83 shares of the firm's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the sale, the director directly owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of Alphabet 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 completion of the transaction, 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. Over the last ninety days, insiders sold 315,765 shares of company stock worth $6,297,980. 11.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. KeyCorp dropped their target price on Alphabet from $435.00 to $410.00 and set an "overweight" rating for the company in a research report on Monday. Tigress Financial reiterated a "strong-buy" rating and issued a $485.00 price target (up from $415.00) on shares of Alphabet in a report on Thursday, September 17th. Wells Fargo & Company reissued an "overweight" rating and set a $417.00 price target (up from $411.00) on shares of Alphabet in a research note on Tuesday, October 6th. Truist Financial set a $420.00 price target on Alphabet and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, DZ Bank upgraded Alphabet to a "strong-buy" rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $425.04.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.

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.