Alphabet Inc. $GOOGL Stock Sold by Cortland Associates Inc. MO

Key Points

• Cortland Associates trimmed its Alphabet stake by 3.1% in the third quarter, selling 1,871 shares; it still held 58,600 shares worth about $20.2 million.
• Institutional ownership stands at 40.03%, with several major investors—including State Street and Amundi—increasing their positions.
• Alphabet’s latest quarterly earnings missed analyst expectations, reporting $2.12 per share versus a $3.02 estimate. Analysts nevertheless maintain a consensus “Buy” rating, with an average price target of $412.51.

Cortland Associates Inc. MO cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 58,600 shares of the information services provider's stock after selling 1,871 shares during the quarter. Alphabet comprises 2.9% of Cortland Associates Inc. MO's holdings, making the stock its 16th biggest position. Cortland Associates Inc. MO's holdings in Alphabet were worth $20,163,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. State Street Corp raised its holdings in shares of Alphabet by 5.6% during the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider's stock worth $85,403,303,000 after acquiring an additional 12,718,127 shares during the period. Amundi raised its stake in shares of Alphabet by 4.6% in the 2nd quarter. Amundi now owns 33,203,350 shares of the information services provider's stock valued at $11,865,809,000 after purchasing an additional 1,457,371 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Alphabet by 10.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider's stock valued at $6,334,186,000 after purchasing an additional 1,631,721 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Alphabet by 7.1% in the first quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider's stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Alphabet by 90.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider's stock worth $4,900,078,000 after buying an additional 8,112,680 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Anthropic investment and cloud exposure: Google plans to invest $10 billion in Anthropic at its IPO, adding to Alphabet’s existing stake. Anthropic also has sizable Google Cloud commitments, potentially supporting cloud revenue through computing and marketplace services. Article: Anthropic's Trillion-Dollar IPO Could Give Cloud Giants a Double Win
• Positive Sentiment: AI chips and cloud growth: Google introduced two specialized TPU variants for AI workloads, a move that could reduce reliance on outside chips and broaden Google Cloud’s appeal. Separate coverage highlighted strong Cloud revenue and improved operating margins. Article: Google broadens its AI hardware portfolio Article: Sundar Pichai Just Delivered Stunning News About Google Cloud
• Neutral Sentiment: Pixel Tag launch: Google began selling its $30 Android-compatible item tracker, expanding its consumer hardware lineup, though the immediate financial impact is unclear. Article: Pixel Tag is now available
• Negative Sentiment: AI spending and monetization concerns: Coverage framed accelerating AI investment as a risk if returns do not justify the cost. JPMorgan also removed Alphabet from its analyst focus list, citing slower AI-search monetization and substantial infrastructure spending, while retaining an Overweight rating. Article: Alphabet investors face a new reality as Google's AI spending accelerates Article: JPMorgan Just Removed Alphabet From Its Analyst Focus List
• Negative Sentiment: Securities lawsuit: Multiple law firms publicized a pending class action alleging misrepresentations about the Gemini 3.5 Pro launch timeline. Investors have until around Dec. 1 to seek lead-plaintiff status; the allegations remain claims, not findings of liability. Article: Investors Have Opportunity to Lead Alphabet Securities Fraud Lawsuit

Insider Activity

In other news, Director Frances Arnold sold 83 shares of the business's stock in a transaction dated 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 owned 19,076 shares of the company's stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 247 shares of company stock valued at $79,238 over the last three months. Insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOOGL shares. Needham & Company LLC reiterated a "buy" rating and set a $450.00 price objective on shares of Alphabet in a report on Thursday, October 29th. Moffett Nathanson set a $345.00 target price on shares of Alphabet in a research report on Thursday, October 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $375.00 target price (down from $400.00) on shares of Alphabet in a research report on Thursday, October 29th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $325.00 price target (down from $385.00) on shares of Alphabet in a research note on Thursday, October 29th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $480.00 price objective (up from $465.00) on shares of Alphabet in a research report on Tuesday, October 20th. Five analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $412.51.

Alphabet Stock Performance

Shares of GOOGL stock opened at $287.38 on Wednesday. Alphabet Inc. has a 52 week low of $270.70 and a 52 week high of $408.61. The company has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.87 and a beta of 1.23. The company has a 50-day simple moving average of $330.72 and a 200 day simple moving average of $338.55. 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 released its quarterly earnings results 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 company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. On average, sell-side analysts predict that Alphabet Inc. will post 19.81 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be issued 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 dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 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.

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.