Angeles Wealth Management LLC Acquires 5,430 Shares of Alphabet Inc. $GOOG

Angeles Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,140 shares of the information services provider's stock after purchasing an additional 5,430 shares during the quarter. Alphabet comprises 0.8% of Angeles Wealth Management LLC's holdings, making the stock its 19th largest holding. Angeles Wealth Management LLC's holdings in Alphabet were worth $20,543,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Alphabet by 1.4% in the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider's stock valued at $130,704,718,000 after acquiring an additional 5,164,200 shares in the last quarter. State Street Corp boosted its stake in Alphabet by 0.5% during the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock worth $58,712,878,000 after acquiring an additional 953,790 shares in the last quarter. Auto Owners Insurance Co grew its holdings in Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. J. Stern & Co. LLP increased its stake in Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 1.1% during the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock valued at $31,569,189,000 after purchasing an additional 1,073,151 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction on Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the transaction, the director directly owned 18,995 shares in the company, valued at $6,414,801.45. This represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 451,925 shares of company stock valued at $12,371,544. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

GOOG stock opened at $335.38 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The business has a 50-day simple moving average of $346.28 and a two-hundred day simple moving average of $341.40. The company has a market capitalization of $4.10 trillion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21. Alphabet Inc. has a 52-week low of $233.38 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. 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 the consensus estimate of $116.53 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The company's quarterly revenue was up 24.2% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is presently 4.42%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Stable search traffic eases competitive concerns. Bank of America reportedly found no meaningful deterioration in Google’s web-traffic data, helping counter fears that AI search tools are taking share from Alphabet’s core search business. Bank of America Spots Reassuring Signal for Google Stock
• Positive Sentiment: Cloud and AI commercialization continue to expand. Google Cloud and Accenture are forming a unit with 1,000 engineers to help enterprises deploy Google’s AI products. Alphabet is also reportedly selling TPU systems directly to customers, potentially creating a new hardware revenue stream, while Google Cloud chief Thomas Kurian claimed the company’s AI-chip business is more than twice the size of its closest rival. Google Cloud and Accenture AI Unit
• Positive Sentiment: Energy and infrastructure access may support AI expansion. A $1.9 billion U.S. Energy Department loan to NextEra Energy will help revive an Iowa nuclear plant intended to supply power for Google, potentially improving Alphabet’s long-term access to reliable electricity for data centers. Google's Revived Nuclear Power Plant Loan
• Neutral Sentiment: Investors remain divided over valuation and capital spending. Analysts and commentators view GOOG as attractively valued relative to cloud growth, but Alphabet’s massive AI-related capital expenditures are pressuring near-term free cash flow and contributing to volatility.
• Negative Sentiment: Project Braid data-center delays raise execution concerns. Alphabet and Blackstone’s AI-cloud venture reportedly faces delays at major data-center sites, highlighting the permitting, construction and power challenges slowing the broader AI buildout. Google and Blackstone Venture Faces Delays
• Negative Sentiment: EU search changes could hurt user experience and business economics. Google says modifications required under the Digital Markets Act will reduce search quality, favor intermediaries over local businesses and increase costs, while exposing Alphabet to continuing regulatory pressure. Google Warns of Lower-Quality European Search Results

Analyst Ratings Changes

Several brokerages have recently commented on GOOG. Stifel Nicolaus set a $420.00 target price on Alphabet in a research note on Wednesday, May 20th. BMO Capital Markets raised their price objective on Alphabet from $455.00 to $465.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Pivotal Research upped their target price on Alphabet from $470.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, DZ Bank raised shares of Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $415.55.

About Alphabet

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google's core internet businesses from a collection of other ventures. Google remains Alphabet's largest business and serves users, advertisers, businesses and developers worldwide.

Google's principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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.