Alphabet Inc. $GOOGL Stock Position Lessened by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital reduced its Alphabet position by 9.2% in the second quarter, selling 22,965 shares and retaining 226,010 shares valued at approximately $80.8 million. Institutional investors own 40.03% of Alphabet.
• Analyst sentiment remains positive: Alphabet has a consensus “Buy” rating and an average price target of $422.16, with recent targets ranging from $420 to $450.
• Alphabet reported quarterly earnings of $9.11 per share, far above the $2.89 consensus estimate, while revenue reached $119.8 billion. Growth opportunities include AI-chip sales and Waymo expansion, though higher rates, heavy AI spending and advertising-related antitrust restrictions remain risks.

Azimuth Capital Investment Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 226,010 shares of the information services provider's stock after selling 22,965 shares during the quarter. Alphabet accounts for 2.7% of Azimuth Capital Investment Management LLC's portfolio, making the stock its 5th biggest holding. Azimuth Capital Investment Management LLC's holdings in Alphabet were worth $80,769,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. EMC Capital Management bought a new stake in Alphabet during the fourth quarter valued at approximately $33,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the fourth quarter worth approximately $32,000. Bard Associates Inc. purchased a new position in shares of Alphabet during the 4th quarter worth $52,000. Graney & King LLC boosted its stake in shares of Alphabet by 38.5% during the 2nd quarter. Graney & King LLC now owns 180 shares of the information services provider's stock worth $64,000 after acquiring an additional 50 shares during the last quarter. Finally, Van Den Berg Management I Inc. lifted its holdings in Alphabet by 319.6% during the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider's stock valued at $61,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Truist Financial set a $420.00 target price on Alphabet and gave the company a "buy" rating in a research note on Thursday, July 23rd. DZ Bank upgraded Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Zacks Research cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Evercore reiterated an "outperform" rating and issued a $450.00 target price on shares of Alphabet in a research report on Wednesday. Finally, Barclays restated an "overweight" rating and set a $425.00 price target (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $422.16.

Insider Activity

In related news, insider John Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were 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 owned 75,290 shares of the company's stock, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 112 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares of the company's stock, valued at $6,615,656.24. The trade was a 0.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 450,875 shares of company stock worth $11,984,482. Insiders own 11.61% of the company's stock.

Key Stories Impacting Alphabet

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 Trading Up 0.6%

Shares of GOOGL opened at $349.54 on Friday. The firm has a market capitalization of $4.27 trillion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.01 and a beta of 1.22. 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 1-year low of $235.84 and a 1-year high of $408.61. The company has a 50-day moving average of $345.20 and a 200 day moving average of $344.91.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, September 7th were given 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 dividend yield of 0.3%. Alphabet's payout ratio is presently 4.42%.

Alphabet 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.

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