BIP Wealth LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,915 shares of the information services provider's stock after acquiring an additional 5,479 shares during the period. BIP Wealth LLC's holdings in Alphabet were worth $8,904,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. State Street Corp increased its position in shares of Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after acquiring an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after acquiring an additional 2,666,676 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter worth $30,534,239,000. Finally, Bank of America Corp DE raised its stake in shares of Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after acquiring an additional 3,218,852 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
- Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
- Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
- Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $410.00 price target on shares of Alphabet in a research report on Thursday. BNP Paribas Exane boosted their price objective on Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. The Goldman Sachs Group upped their target price on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. DZ Bank upgraded Alphabet to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, New Street Research increased their target price on Alphabet from $450.00 to $455.00 and gave the company a "buy" rating in a research note on Friday, June 5th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus price target of $420.19.
View Our Latest Research Report on Alphabet
Insiders Place Their Bets
In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent 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 value of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 451,945 shares of company stock worth $12,382,714. 11.61% of the stock is owned by insiders.
Alphabet Stock Performance
Alphabet stock opened at $344.82 on Friday. Alphabet Inc. has a 12-month low of $201.30 and a 12-month high of $408.61. The company has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The firm's fifty day moving average price is $352.00 and its 200 day moving average price is $341.37.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. On average, research analysts forecast that Alphabet Inc. will post 20.51 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is 4.42%.
About Alphabet
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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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