Flagship Harbor Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,668 shares of the information services provider's stock after purchasing an additional 2,319 shares during the quarter. Alphabet accounts for approximately 0.7% of Flagship Harbor Advisors LLC's investment portfolio, making the stock its 26th largest holding. Flagship Harbor Advisors LLC's holdings in Alphabet were worth $19,498,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GOOGL. 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 acquiring an additional 27 shares in the last quarter. Rockbridge Investment Management LCC grew its stake in Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after purchasing an additional 27 shares in the last quarter. Ruggaard & Associates LLC grew its stake in Alphabet by 0.9% in the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock worth $840,000 after purchasing an additional 27 shares in the last quarter. Cadia Private Client LLC increased its holdings in Alphabet by 1.1% during the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock worth $744,000 after purchasing an additional 28 shares during the period. Finally, Evansbrook LLC increased its holdings in Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after purchasing an additional 28 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud revenue more than doubled year over year in the latest quarter, and its reported backlog was about $561 billion, highlighting strong enterprise demand. Read More.
- Positive Sentiment: Alphabet is in preliminary discussions related to the U.S. “Golden Dome” defense initiative. A contract could create a new, recurring revenue stream and help monetize its infrastructure investments, though no deal has been confirmed. Read More.
- Neutral Sentiment: Google plans to make its AI tools opt-in for K-12 students, responding to concerns from educators and policymakers. Reports that restricting AI could also limit Search have drawn political criticism, creating reputational risk while the company adjusts its school policies. Read More.
- Negative Sentiment: Recent earnings concerns continue to weigh on the outlook: Alphabet missed quarterly EPS expectations, Search growth slowed, and AI-generated results may produce less advertising revenue than traditional Search. ChatGPT’s search volume is also reported at roughly 20% of Google’s, underscoring competition for users. Read More.
- Negative Sentiment: Heavy AI infrastructure spending pushed free cash flow negative, and management expects capital expenditures to rise further. That raises questions about when the investment will generate sufficient returns and may help explain continued pressure on the shares after earnings. Read More.
- Negative Sentiment: Several law firms publicized an existing securities class action concerning alleged statements about Gemini 3.5 Pro training results. The repeated notices do not indicate separate new cases, but the litigation could add legal and reputational risk. Read More.
Alphabet Price Performance
GOOGL opened at $280.03 on Wednesday. The firm has a market capitalization of $3.42 trillion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. The business's 50-day moving average is $336.39 and its two-hundred day moving average is $339.61. Alphabet Inc. has a 1 year low of $270.70 and a 1 year high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The firm had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.96 billion. Research analysts anticipate that Alphabet Inc. will post 19.86 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is presently 4.59%.
Insider Buying and Selling
In other Alphabet news, Director Frances Arnold sold 83 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 247 shares of company stock worth $79,238 over the last three months. Corporate insiders own 11.61% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on GOOGL. BMO Capital Markets restated an "outperform" rating and issued a $480.00 price objective (up from $465.00) on shares of Alphabet in a report on Tuesday, October 20th. Phillip Securities raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 27th. Susquehanna cut their target price on shares of Alphabet from $460.00 to $400.00 and set a "positive" rating on the stock in a research report on Thursday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $385.00 price target on shares of Alphabet in a research report on Thursday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $412.51.
Check Out Our Latest Report on Alphabet
About Alphabet
(
Free Report)
Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.
Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.
Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.
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