Alphabet Inc. $GOOGL Shares Sold by Allstate Corp

Key Points

• Allstate reduced its Alphabet stake by 22.6% in the second quarter, selling 101,668 shares and retaining 348,551 shares valued at approximately $124.6 million. Alphabet remains Allstate’s 11th-largest holding and represents 1.2% of its portfolio.
• Alphabet reported quarterly earnings of $9.11 per share, well above the $2.89 analyst consensus, while revenue reached $119.8 billion versus expectations of $117.07 billion. The company also declared a quarterly dividend of $0.22 per share.
• Analyst sentiment remains broadly positive, with Alphabet carrying an average “Buy” rating and a consensus price target of $420.19, although some insiders and investors—including Bill Ackman’s fund—have recently reduced or exited their positions amid concerns about rising AI infrastructure spending.

Allstate Corp reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 348,551 shares of the information services provider's stock after selling 101,668 shares during the period. Alphabet comprises 1.2% of Allstate Corp's investment portfolio, making the stock its 11th largest holding. Allstate Corp's holdings in Alphabet were worth $124,562,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. NewEdge Wealth LLC boosted its position in shares of Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after acquiring an additional 93,293 shares during the last quarter. PFG Investments LLC increased its position in Alphabet by 2.6% during the first quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock worth $25,679,000 after purchasing an additional 2,269 shares during the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new position in Alphabet during the fourth quarter worth approximately $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Alphabet by 17.1% during the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock valued at $37,236,000 after buying an additional 17,415 shares during the period. Finally, KLCM Advisors Inc. increased its holdings in shares of Alphabet by 66.1% during the 4th quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock worth $7,161,000 after buying an additional 9,105 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $338.46 on Tuesday. Alphabet Inc. has a 12-month low of $231.90 and a 12-month high of $408.61. 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 company has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The firm's fifty day moving average price is $348.72 and its 200 day moving average price is $343.12.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations 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 20.5 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's payout ratio is 4.42%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research note on Friday, July 17th. Needham & Company LLC restated a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a report on Wednesday, June 3rd. KeyCorp lifted their price target on shares of Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $420.19.

Insider Buying and Selling

In related news, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 451,925 shares of company stock worth $12,371,544. Insiders own 11.61% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google expanded its partnership with Cathay Pacific to test AI designed to reduce aircraft contrail warming. Early real-world testing reportedly cut contrail-related warming by 40%, highlighting potential environmental applications for Google’s AI technology. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails
• Positive Sentiment: Pixxel, an Indian satellite startup backed by Google, raised $100 million in new funding. The deal strengthens Alphabet’s exposure to Earth observation, space software and sovereign space systems, although the financial effect on Alphabet itself is likely limited. Google-backed Indian space startup raises $100 million in latest funding round
• Positive Sentiment: Several investment articles argue Alphabet is underappreciated within the “Magnificent Seven,” citing its search and cloud cash flows, AI opportunities and a valuation viewed as reasonable relative to growth. Berkshire Hathaway’s continued Alphabet purchases also provide a prominent vote of confidence.
• Neutral Sentiment: Warren Buffett reportedly initiated Berkshire’s Alphabet investment, while Greg Abel is expected to maintain significant influence over the portfolio. The development is sentiment-positive but does not change Alphabet’s operating outlook.
• Neutral Sentiment: Alphabet’s partnerships with AI companies, including CrowdStrike, reinforce its role in enterprise AI and cybersecurity, but the commercial impact remains uncertain. CrowdStrike unveiled a broad AI security platform push
• Negative Sentiment: Bill Ackman’s fund fully exited Alphabet in the second quarter and bought Netflix instead, citing concern that aggressive AI infrastructure spending could pressure profitability and increase volatility.
• Negative Sentiment: Commentary warns that rising AI capital expenditures are reducing returns on capital and could challenge Alphabet’s traditionally strong financial profile.
• Negative Sentiment: A law firm announced a securities-fraud investigation seeking Alphabet investors, but the announcement provides no finding of wrongdoing and appears primarily to solicit shareholders.

About Alphabet

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.

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