Midwest Trust Co trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 661,508 shares of the information services provider's stock after selling 50,717 shares during the period. Alphabet accounts for about 2.7% of Midwest Trust Co's investment portfolio, making the stock its 6th largest position. Midwest Trust Co's holdings in Alphabet were worth $236,403,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake 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 buying an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its stake in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after buying an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after buying an additional 48,805 shares during the last quarter. Finally, United Bank grew its holdings in Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after buying an additional 3,120 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In related news, CAO Marsida Saraci sold 449 shares of the firm'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 value of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 451,945 shares of company stock worth $12,382,714. 11.61% of the stock is owned by insiders.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet reportedly plans to move all Pixel smartphone manufacturing out of China by 2027, shifting production to Vietnam and India. The move could diversify its supply chain and reduce geopolitical and tariff-related exposure, although execution and transition costs remain considerations. Google plans to move all Pixel manufacturing out of China by 2027: report
- Positive Sentiment: A review of second-quarter consumer-internet results described Alphabet as the standout performer, reinforcing the investment case based on its operating momentum and market position. Consumer internet Q2 earnings: Alphabet simply the best
- Positive Sentiment: Marvell’s newly announced custom-chip agreement with Google is drawing significant attention ahead of Marvell’s earnings. The deal highlights Alphabet’s continued investment in custom AI infrastructure and could improve computing efficiency while increasing competitive pressure on Broadcom. Marvell Earnings Are Coming. Google Agreement Likely to Be Biggest Talking Point.
- Positive Sentiment: Alphabet was among the large social-media and technology companies trading higher as investors rotated within the sector. The move reflects supportive broader sentiment, though it is not a company-specific catalyst. Snap rises, Meta and Alphabet tick up
- Neutral Sentiment: Articles highlighted Alphabet as a relatively attractively valued Magnificent Seven company and noted that prominent investors Stanley Druckenmiller and Dan Loeb bought the stock. These views may support sentiment, but they are not new operating developments. Billionaires piled into this AI stock
- Negative Sentiment: Prediction-market odds suggest Google could delay the next Gemini Pro release beyond September 30. A delay could leave Alphabet without a new flagship AI product in the near term and raise concerns about the pace of its generative-AI rollout. Gemini Pro delay leaves Google with an empty flagship tier
Analyst Ratings Changes
Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. HSBC reaffirmed a "buy" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Truist Financial set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Oppenheimer upped their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $420.19.
View Our Latest Stock Analysis on GOOGL
Alphabet Price Performance
GOOGL stock opened at $348.06 on Tuesday. The stock has a market capitalization of $4.26 trillion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $205.28 and a 52-week high of $408.61. The stock's fifty day simple moving average is $351.57 and its 200-day simple moving average is $341.41.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS 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 firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Equities research analysts expect that Alphabet Inc. will post 20.51 EPS 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 issued a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's payout ratio is 4.42%.
About Alphabet
(
Free Report)
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.
Further Reading
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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