ICONIQ Capital LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 94.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,585 shares of the information services provider's stock after selling 744,197 shares during the period. Alphabet accounts for 0.4% of ICONIQ Capital LLC's portfolio, making the stock its 16th largest position. ICONIQ Capital LLC's holdings in Alphabet were worth $14,146,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after acquiring an additional 4,008,374 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alphabet by 1.9% in the 4th 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 during the period. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter worth about $30,534,239,000. Bank of America Corp DE lifted its position in 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 purchasing an additional 3,218,852 shares during the last quarter. Finally, Capital World Investors lifted its position in Alphabet by 1.5% in the 4th quarter. Capital World Investors now owns 53,881,908 shares of the information services provider's stock valued at $16,865,158,000 after purchasing an additional 774,336 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction that occurred 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 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 trade represents a 1.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 quarter, insiders have sold 451,925 shares of company stock worth $12,371,544. Company insiders own 11.61% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. UBS Group decreased their target price on shares of Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. KeyCorp increased their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $425.00 price target on shares of Alphabet in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $420.19.
Read Our Latest Report on Alphabet
Alphabet Stock Up 1.8%
GOOGL stock opened at $338.50 on Friday. The firm has a market cap of $4.14 trillion, a PE ratio of 17.00, a P/E/G ratio of 0.98 and a beta of 1.22. Alphabet Inc. has a 12 month low of $235.84 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 firm has a 50 day simple moving average of $346.75 and a 200 day simple moving average of $343.66.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Equities research analysts forecast that Alphabet Inc. will post 20.52 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's payout ratio is presently 4.42%.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google agreed to secure nuclear power for 22 years, reportedly locking in roughly half of a plant’s output through 2049. The deal could provide more predictable electricity costs and reliable power for energy-intensive AI data centers, strengthening Alphabet’s infrastructure position. Alphabet Jumps 2.5% After Locking In 22 Years of Nuclear Power
- Positive Sentiment: Google completed its acquisition of AI startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees are joining Google, potentially adding talent focused on AI agents and automation. Google just completed its $1.5 billion-plus deal for AI startup Mechanize
- Positive Sentiment: Investor commentary highlighted Alphabet’s strong AI and cloud outlook. Google Cloud is reportedly growing 82% year over year, while Alphabet’s Gemini technology is expanding into professional video-editing software, supporting the case that AI can broaden enterprise revenue beyond search advertising. Microsoft Vs. Alphabet: The Enterprise Fight No One Saw Coming
- Positive Sentiment: Recent coverage continues to present Alphabet as attractively valued relative to its growth prospects. The company’s latest reported quarter exceeded expectations, with earnings of $9.11 per share versus a $2.89 consensus estimate and revenue of $119.8 billion versus $117.07 billion expected.
- Neutral Sentiment: Alphabet’s inclusion among major AI and cloud beneficiaries, along with Berkshire Hathaway’s reported position in the company, may support investor interest but does not represent a new operating catalyst. Berkshire Hathaway Has a New Top Holding, and It Dominates Its Market
- Negative Sentiment: A law firm said it is continuing an investigation into possible federal securities-law violations involving Alphabet. The announcement does not establish wrongdoing, but it introduces a potential legal and reputational overhang. Securities Fraud Investigation Into Alphabet Continues
- Negative Sentiment: Alphabet faces scrutiny over the scale of AI infrastructure spending, potential financing pressure across the AI industry, and electricity-demand concerns related to new data centers. Finland opposition parties have warned that Google’s expansion could strain local power supplies and raise energy costs. Finland Risks Strained Power Supply After Google AI Deal
Alphabet Company Profile
(
Free Report)
Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.
Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.
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