Alpine Woods Capital Investors LLC Has $1.95 Million Position in Alphabet Inc. $GOOGL

Key Points

• Alpine Woods Capital Investors cut its Alphabet position by 63.9% in the first quarter, selling 12,007 shares and retaining 6,771 shares valued at approximately $1.95 million.
• Despite Alpine’s reduction, several other institutional investors increased their holdings, with hedge funds and institutions owning 40.03% of Alphabet’s stock.
• Alphabet continues to receive positive analyst sentiment, with a consensus “Buy” rating and an average price target of $419.86. The company also reported quarterly revenue of $119.80 billion, beating estimates, while AI and Google Cloud growth remain key catalysts.

Alpine Woods Capital Investors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 63.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,771 shares of the information services provider's stock after selling 12,007 shares during the period. Alpine Woods Capital Investors LLC's holdings in Alphabet were worth $1,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allen Capital Group LLC raised its holdings in shares of Alphabet by 2.8% in the first quarter. Allen Capital Group LLC now owns 54,712 shares of the information services provider's stock valued at $15,733,000 after buying an additional 1,467 shares during the last quarter. Security Financial Services INC. increased its position in Alphabet by 14.0% in the 1st quarter. Security Financial Services INC. now owns 4,075 shares of the information services provider's stock valued at $1,172,000 after acquiring an additional 502 shares in the last quarter. Capasso Planning Partners LLC increased its position in Alphabet by 10.7% in the 1st quarter. Capasso Planning Partners LLC now owns 1,447 shares of the information services provider's stock valued at $416,000 after acquiring an additional 140 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its position in Alphabet by 8.2% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 3,870 shares of the information services provider's stock valued at $1,113,000 after acquiring an additional 294 shares in the last quarter. Finally, Ruggaard & Associates LLC raised its stake in shares of 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 acquiring an additional 27 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citizens Jmp reiterated a "market outperform" rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday, July 22nd. Rothschild & Co Redburn raised their price target on shares of Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, April 30th. President Capital boosted their price objective on shares of Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. KeyCorp upped their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Finally, Barclays reiterated an "overweight" rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $419.86.

Insider Buying and Selling

In related news, insider John Kent Walker sold 8,998 shares of the business's 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 transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of the business'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 transaction of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 600,547 shares of company stock valued at $16,255,540. Insiders own 11.61% of the company's stock.

Alphabet Stock Down 1.0%

Shares of Alphabet stock opened at $354.30 on Friday. 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 12 month low of $196.60 and a 12 month high of $408.61. The business has a fifty day simple moving average of $355.68 and a 200 day simple moving average of $340.41. The stock has a market cap of $4.33 trillion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Research analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio is 4.42%.

Alphabet Company Profile

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.

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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