Axon Capital LP Acquires New Shares in Alphabet Inc. $GOOGL

Axon Capital LP acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,000 shares of the information services provider's stock, valued at approximately $7,505,000. Alphabet makes up approximately 10.2% of Axon Capital LP's investment portfolio, making the stock its 6th largest position.

Several other hedge funds have also recently bought and sold shares of the business. NewEdge Wealth LLC raised its holdings in Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after acquiring an additional 93,293 shares during the period. PFG Investments LLC boosted its holdings in Alphabet by 2.6% during the first quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock valued at $25,679,000 after acquiring an additional 2,269 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new stake in Alphabet during the fourth quarter valued at about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co grew its position in shares of Alphabet by 17.1% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock valued at $37,236,000 after purchasing an additional 17,415 shares during the last quarter. Finally, KLCM Advisors Inc. grew its position in shares of Alphabet by 66.1% in the fourth quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock valued at $7,161,000 after purchasing an additional 9,105 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Evercore boosted their price objective on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Zacks Research downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Alphabet in a report on Monday, June 22nd. Wells Fargo & Company set a $411.00 price target on Alphabet and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average target price of $420.19.

More Alphabet News

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

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares of the company's stock, valued at $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 451,945 shares of company stock valued at $12,382,714 in the last ninety days. 11.61% of the stock is owned by company insiders.

Alphabet Trading Up 0.9%

Shares of GOOGL opened at $348.06 on Tuesday. Alphabet Inc. has a 12-month low of $205.28 and a 12-month high of $408.61. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.26 trillion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 0.97 and a beta of 1.24. The stock's 50-day moving average price is $351.57 and its 200 day moving average price is $341.41.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping 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 company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. As a group, research analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

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

Alphabet 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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