Alphabet Inc. $GOOGL Shares Sold by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates reduced its Alphabet stake by 1.8%, selling 6,083 shares and retaining 341,301 shares valued at approximately $122 million. Institutional investors collectively own about 40% of Alphabet.
• Analysts remain broadly bullish on Alphabet, with a consensus “Buy” rating and an average price target of $420.19. Recent upgrades and higher targets reflect optimism about the company’s earnings, AI investments and growth prospects.
• Alphabet reported quarterly revenue of $119.8 billion and EPS of $9.11, beating estimates, while its AI infrastructure expansion and Waymo’s robotaxi progress provided additional positive catalysts. The company also declared a quarterly dividend of $0.22 per share.

Pinnacle Associates Ltd. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 341,301 shares of the information services provider's stock after selling 6,083 shares during the period. Alphabet comprises approximately 1.3% of Pinnacle Associates Ltd.'s holdings, making the stock its 13th biggest holding. Pinnacle Associates Ltd.'s holdings in Alphabet were worth $121,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet during the fourth quarter worth about $32,000. EMC Capital Management acquired a new stake in shares of Alphabet in the fourth quarter valued at about $33,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $52,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. HSBC restated a "buy" rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a research note on Thursday, July 23rd. Evercore upped their price objective on shares of Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. President Capital lifted their target price on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Daiwa Securities Group increased their price target on Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Six 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $420.19.

Key Stories 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.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 82 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $333.39, for a total transaction of $27,337.98. Following the sale, the director owned 18,914 shares in the company, valued at approximately $6,305,738.46. This trade represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 451,945 shares of company stock valued at $12,382,714 over the last three months. 11.61% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $344.82 on Friday. Alphabet Inc. has a twelve month low of $201.30 and a twelve month high of $408.61. 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 company has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. The business has a 50 day simple moving average of $352.00 and a 200-day simple moving average of $341.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. As a group, equities research analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is 4.42%.

Alphabet Company 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.

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