Alphabet Inc. $GOOGL Stock Position Increased by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management increased its Alphabet stake by 5.4% in the third quarter, adding 9,915 shares to hold 193,231 shares valued at about $66.5 million. Other institutional investors also reported increasing their holdings.
• Analysts remain broadly positive: Alphabet has a consensus Buy rating and a $412.51 average price target, though recent target changes were mixed. The company’s latest quarterly earnings missed estimates, reporting $2.12 per share versus a $3.02 consensus.
• Alphabet is expanding its AI efforts, including launching Gemini for healthcare and unveiling new in-house AI chip systems. The article also notes a declared quarterly dividend of $0.22 per share.

Lyell Wealth Management LP boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 193,231 shares of the information services provider's stock after purchasing an additional 9,915 shares during the period. Alphabet makes up approximately 3.9% of Lyell Wealth Management LP's portfolio, making the stock its 4th biggest holding. Lyell Wealth Management LP's holdings in Alphabet were worth $66,487,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GOOGL. Titleist Asset Management LLC lifted its position in shares of Alphabet by 6.4% during the 3rd quarter. Titleist Asset Management LLC now owns 34,613 shares of the information services provider's stock valued at $11,909,000 after buying an additional 2,096 shares in the last quarter. Elefante Mark B grew its stake in Alphabet by 4.5% in the 2nd quarter. Elefante Mark B now owns 43,733 shares of the information services provider's stock valued at $15,629,000 after acquiring an additional 1,897 shares during the period. Nwam LLC increased its holdings in Alphabet by 19.6% in the 1st quarter. Nwam LLC now owns 49,128 shares of the information services provider's stock worth $14,127,000 after acquiring an additional 8,055 shares in the last quarter. WCM Investment Management LLC increased its holdings in Alphabet by 287.4% in the 1st quarter. WCM Investment Management LLC now owns 3,886 shares of the information services provider's stock worth $1,063,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Spinnaker Investment Group LLC increased its holdings in Alphabet by 51.4% in the 2nd quarter. Spinnaker Investment Group LLC now owns 4,759 shares of the information services provider's stock worth $1,701,000 after acquiring an additional 1,616 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Royal Bank Of Canada decreased their price target on shares of Alphabet from $425.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, October 29th. BMO Capital Markets reiterated an "outperform" rating and set a $480.00 price objective (up from $465.00) on shares of Alphabet in a research note on Tuesday, October 20th. JPMorgan Chase & Co. increased their target price on Alphabet from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Wells Fargo & Company reduced their target price on Alphabet from $417.00 to $371.00 and set an "overweight" rating for the company in a report on Friday, October 30th. Finally, Roth Capital restated 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. Five investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $412.51.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 83 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares in the company, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 247 shares of company stock valued at $79,238. Corporate insiders own 11.61% of the company's stock.

Latest Alphabet News

Here's some of the latest news about GOOGL:

• Positive Sentiment: Google launched Gemini for healthcare, extending Alphabet’s AI offerings into a specialized market. The news adds to the company’s efforts to turn AI development into commercial opportunities. Article: Alphabet Launches Gemini For Healthcare
• Positive Sentiment: Alphabet unveiled two new AI-focused TPU systems, broadening its in-house chip lineup and potentially reducing reliance on outside suppliers. The push could strengthen Google Cloud’s competitiveness, though investors are weighing the investment required against returns. Article: Alphabet Escalates AI Chip Rivalry With NVIDIA
• Neutral Sentiment: Alphabet is among Anthropic’s major investors and cloud providers, with the company’s IPO potentially increasing the value of its stake and supporting Google Cloud demand. However, the reported additional investment is also a substantial capital commitment. Article: Anthropic's Trillion-Dollar IPO Could Give Cloud Giants a Double Win

Alphabet Stock Up 2.1%

GOOGL stock opened at $293.45 on Thursday. Alphabet Inc. has a one year low of $270.70 and a one year high of $408.61. The firm has a market cap of $3.61 trillion, a PE ratio of 15.32, a PEG ratio of 0.87 and a beta of 1.23. The firm's 50 day moving average price is $329.89 and its 200-day moving average price is $338.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.02 by ($0.90). The business had revenue of $127.58 billion during the quarter, compared to analysts' expectations of $127.96 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. On average, equities research analysts anticipate that Alphabet Inc. will post 19.81 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet's dividend payout ratio is 4.59%.

Alphabet Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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