Legacy Capital Group California Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 26.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,185 shares of the information services provider's stock after selling 3,724 shares during the period. Alphabet accounts for approximately 1.1% of Legacy Capital Group California Inc.'s holdings, making the stock its 9th biggest position. Legacy Capital Group California Inc.'s holdings in Alphabet were worth $2,929,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Objective Capital Management LLC increased its stake in Alphabet by 30.7% in the 1st quarter. Objective Capital Management LLC now owns 3,382 shares of the information services provider's stock valued at $973,000 after buying an additional 795 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Alphabet by 9.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 84,338 shares of the information services provider's stock worth $24,252,000 after acquiring an additional 6,978 shares in the last quarter. Integrity Wealth Solutions LLC raised its holdings in shares of Alphabet by 1.1% during the first quarter. Integrity Wealth Solutions LLC now owns 4,331 shares of the information services provider's stock worth $1,245,000 after acquiring an additional 46 shares in the last quarter. Bleakley Financial Group LLC boosted its position in Alphabet by 8.7% during the first quarter. Bleakley Financial Group LLC now owns 201,193 shares of the information services provider's stock valued at $57,855,000 after purchasing an additional 16,175 shares during the last quarter. Finally, Archer Investment Corp boosted its position in Alphabet by 28.7% during the first quarter. Archer Investment Corp now owns 20,910 shares of the information services provider's stock valued at $6,013,000 after purchasing an additional 4,658 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet delivered a strong quarter, with revenue of $119.8 billion and EPS of $9.11, both well above expectations, while Google Cloud revenue jumped 82% year over year and YouTube ad revenue also grew solidly. Reuters article
- Positive Sentiment: Management said AI demand is outpacing capacity, which helped justify higher investment plans, and Google Cloud CEO Thomas Kurian said existing customers are spending about 50% more than they initially committed. CNBC article
- Positive Sentiment: Google’s Gemini AI assistant now has more than 950 million monthly users, showing continued traction in its AI products and ecosystem. TechCrunch article
- Neutral Sentiment: Alphabet declared a quarterly dividend of $0.22 per share, a small but shareholder-friendly capital return move. MarketBeat reference
- Neutral Sentiment: Alphabet disclosed a large equity stake in SpaceX, highlighting the value of its investment portfolio, though this is not a direct operating catalyst for the core business. WSJ article
- Negative Sentiment: Shares are falling as investors react to a much higher 2026 capital spending outlook and Alphabet’s first-ever negative free cash flow, raising concerns that AI infrastructure spending could pressure returns. Barron’s article
- Negative Sentiment: Alphabet also faces a new €890 million ($1 billion) EU antitrust fine over Search and Play Store practices, adding regulatory pressure. Reuters article
- Negative Sentiment: Several law firms announced securities-fraud investigations tied to Alphabet’s disclosures, which can add overhang and keep sentiment fragile. Business Wire article
Insider Activity at Alphabet
In other news, 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 transaction of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock worth $7,672,279 in the last ninety days. Insiders own 11.61% of the company's stock.
Alphabet Stock Down 7.1%
Alphabet stock opened at $317.69 on Friday. The company has a 50 day moving average of $364.48 and a 200-day moving average of $338.88. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $187.82 and a twelve month high of $408.61. The stock has a market capitalization of $3.85 trillion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results 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. Alphabet had a return on equity of 57.20% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 14.34 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. Stockholders 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 dividend payout ratio (DPR) is presently 6.71%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on GOOGL shares. Citigroup restated an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Susquehanna reissued a "positive" rating and issued a $460.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Truist Financial set a $420.00 price target on shares of Alphabet and gave the stock a "buy" rating in a research report on Thursday. Oppenheimer upped their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the company a "buy" rating in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $419.86.
Get Our Latest Report on GOOGL
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.
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