Alphabet Inc. $GOOGL Shares Sold by ProVise Management Group LLC

Key Points

• ProVise Management Group reduced its Alphabet position by 11% in the second quarter, selling 6,618 shares and retaining 53,410 shares valued at approximately $19.1 million. Institutional investors and hedge funds collectively own 40.03% of Alphabet.
• Alphabet reported quarterly earnings of $9.11 per share and revenue of $119.8 billion, surpassing analyst expectations. Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $420.19.
• Alphabet’s growth outlook is being supported by continued AI infrastructure demand and Waymo expansion, while the company also declared a quarterly dividend of $0.22 per share, representing a 0.3% annualized yield.

ProVise Management Group LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,410 shares of the information services provider's stock after selling 6,618 shares during the period. Alphabet comprises about 1.3% of ProVise Management Group LLC's investment portfolio, making the stock its 21st largest position. ProVise Management Group LLC's holdings in Alphabet were worth $19,087,000 at the end of the most recent reporting period.

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

More Alphabet News

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.

Alphabet Stock Performance

Alphabet stock opened at $344.82 on Friday. The stock's 50-day moving average is $352.00 and its 200-day moving average is $341.37. The company has a market cap 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 company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 12 month low of $201.30 and a 12 month high of $408.61.

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, beating the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Equities analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's payout ratio is 4.42%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business'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 transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The stock was 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 directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 451,945 shares of company stock valued at $12,382,714. 11.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stifel Nicolaus set a $420.00 price target on Alphabet and gave the company a "buy" rating in a report on Thursday, April 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Alphabet in a report on Monday, June 22nd. Susquehanna reiterated a "positive" rating and set a $460.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Rosenblatt Securities reissued a "buy" rating and issued a $410.00 target price on shares of Alphabet in a research report on Thursday. Finally, Rothschild & Co Redburn boosted their target price on shares of Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $420.19.

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.

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.

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