Alphabet Inc. $GOOGL Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,754,610 shares of the information services provider's stock after selling 39,706 shares during the period. Alphabet makes up 1.0% of Cibc World Market Inc.'s investment portfolio, making the stock its 26th largest holding. Cibc World Market Inc.'s holdings in Alphabet were worth $627,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares during the last quarter. Finally, United Bank lifted its holdings in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.

Alphabet Stock Performance

Shares of GOOGL opened at $338.46 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.14 trillion, a P/E ratio of 17.00, a PEG ratio of 0.98 and a beta of 1.22. The company has a 50-day moving average of $348.72 and a two-hundred day moving average of $343.12. Alphabet Inc. has a 12-month low of $231.90 and a 12-month high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. As a group, research analysts predict that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced 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 of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is presently 4.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Wedbush reissued an "outperform" rating and set a $445.00 price target on shares of Alphabet in a report on Thursday, July 23rd. HSBC reaffirmed a "buy" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Barclays restated an "overweight" rating and set a $425.00 target price (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Buy" and a consensus price target of $420.19.

Insider Buying and Selling at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was 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 in the company, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $2,232,808.20. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 451,925 shares of company stock worth $12,371,544. 11.61% of the stock is owned by insiders.

Alphabet 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.