Bellars Harris Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,034 shares of the information services provider's stock, valued at approximately $7,160,000.
Other large investors have also recently made changes to their positions in the company. Strategic Wealth Advisors LLC increased its stake in shares of Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after buying an additional 27 shares during the period. Rockbridge Investment Management LCC raised its holdings in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after purchasing an additional 27 shares in the last quarter. Ruggaard & Associates LLC raised its holdings in Alphabet by 0.9% in the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock worth $840,000 after purchasing an additional 27 shares in the last quarter. Cadia Private Client LLC lifted its position in shares of Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock worth $744,000 after purchasing an additional 28 shares during the period. Finally, Evansbrook LLC boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock valued at $2,738,000 after purchasing an additional 28 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on GOOGL shares. CICC Research raised their price objective on Alphabet from $388.00 to $407.91 and gave the company an "outperform" rating in a research report on Friday, May 1st. DA Davidson set a $350.00 price target on shares of Alphabet and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. China Renaissance lifted their price target on shares of Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. HSBC reissued 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. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $410.00 price target on shares of Alphabet in a research report on Thursday, August 20th. 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 stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Buy" and a consensus target price of $420.19.
Get Our Latest Stock Analysis on Alphabet
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud and AI remain the main growth drivers. Rising Cloud revenue, AI adoption and a reported $514 billion backlog strengthen Alphabet’s competitive position against Microsoft and Amazon, although capacity constraints could limit near-term execution. Rising Cloud Revenue Strengthens Alphabet Against MSFT & AMZN
- Positive Sentiment: New Gemini and AI Mode features could increase user engagement and monetization. Google is expanding AI Mode to track flight prices and assist with hotel bookings, while reviews of its personal-intelligence tools suggest broader consumer adoption. Employees are also reportedly testing a next-generation Gemini Flash model. Google's AI Mode can now track flight prices, help book hotels, and more
- Positive Sentiment: Analyst sentiment and technical momentum remain favorable. Brokerages maintain an average “Buy” recommendation, while technical commentary points to support above approximately $340. Alphabet’s valuation, margins and cash generation are viewed as attractive relative to many AI peers. Alphabet Receives Average Recommendation of Buy
- Positive Sentiment: Alphabet’s custom-chip strategy is creating demand for AI infrastructure. Marvell’s large Google-related AI-chip opportunity highlights Alphabet’s willingness to invest in proprietary computing capacity, potentially supporting long-term performance and reducing reliance on outside suppliers. Marvell’s Google AI-chip opportunity
- Neutral Sentiment: Google changed its European spam and site-reputation policy. The adjustment is intended to address European Commission concerns and reduce the risk of an antitrust fine, but it may affect how Google ranks publisher content and reflects ongoing regulatory pressure. Google changes spam policy in EU to avert antitrust fine
- Negative Sentiment: Legal risks continue to weigh on the investment case. Multiple law firms announced securities-fraud investigations, while Google agreed to a $353 million settlement with UK app developers. These announcements do not establish wrongdoing but could create financial and reputational costs. Google agrees to settle UK app developers’ lawsuit
- Negative Sentiment: The FTC is reportedly considering action involving YouTube. The investigation concerns account suspensions and possible consumer-protection violations, adding another regulatory overhang for Alphabet. US FTC probes YouTube over social media policies
Insider Activity
In other news, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. This represents a 10.68% 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. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 451,843 shares of company stock valued at $12,343,852 over the last ninety days. 11.61% of the stock is owned by corporate insiders.
Alphabet Trading Up 1.7%
Shares of Alphabet stock opened at $346.59 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a fifty-two week low of $206.20 and a fifty-two week high of $408.61. The company has a fifty day moving average of $349.62 and a 200 day moving average of $341.74. The company has a market capitalization of $4.24 trillion, a P/E ratio of 17.41, a P/E/G ratio of 0.96 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
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. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 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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