Alphabet Inc. $GOOGL Stake Lifted by Amundi

Key Points

• Amundi increased its Alphabet stake by 4.6% in the second quarter, bringing its holdings to 33.2 million shares worth approximately $11.9 billion. Alphabet now represents 2.9% of Amundi’s portfolio.
• Alphabet insiders sold 450,875 shares worth about $12.0 million over the past three months, including sizable sales by Director Frances Arnold and insider John Walker.
• Alphabet reported quarterly revenue of $119.8 billion and EPS of $9.11, exceeding analyst expectations. Analysts maintain a consensus “Buy” rating with an average price target of $422.16, while the company also declared a quarterly dividend of $0.22 per share.

Amundi grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,203,350 shares of the information services provider's stock after purchasing an additional 1,457,371 shares during the quarter. Alphabet accounts for 2.9% of Amundi's investment portfolio, making the stock its 6th biggest position. Amundi owned 0.27% of Alphabet worth $11,865,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Strategic Wealth Advisors LLC raised its stake in shares of Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after purchasing an additional 27 shares during the period. Rockbridge Investment Management LCC boosted its position in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after buying an additional 27 shares during the last quarter. Ruggaard & Associates LLC grew its stake in shares of Alphabet by 0.9% during the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock valued at $840,000 after acquiring an additional 27 shares in the last quarter. Cadia Private Client LLC grew its stake in shares of Alphabet by 1.1% during the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after acquiring an additional 28 shares in the last quarter. Finally, Evansbrook LLC increased its position in shares of Alphabet by 0.3% during the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 112 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares of the company's stock, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Walker sold 8,998 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 450,875 shares of company stock worth $11,984,482. Insiders own 11.61% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $349.54 on Friday. 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 $235.84 and a 12 month high of $408.61. The company has a fifty day moving average price of $345.20 and a two-hundred day moving average price of $344.91. The company has a market cap of $4.27 trillion, a PE ratio of 17.56, a P/E/G ratio of 1.01 and a beta of 1.22.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. 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 was paid on Monday, September 14th. Shareholders of record on Monday, September 7th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Roth Capital reaffirmed a "buy" rating and issued a $440.00 target price (up from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Needham & Company LLC reiterated a "buy" rating and set a $450.00 target price on shares of Alphabet in a research note on Wednesday, June 3rd. 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, July 23rd. Finally, Zacks Research cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Buy" and an average price target of $422.16.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Alphabet Company Profile

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.

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.