BFI Infinity Ltd. bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,143 shares of the information services provider's stock, valued at approximately $4,340,000. Alphabet makes up about 1.3% of BFI Infinity Ltd.'s holdings, making the stock its 12th largest position.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Brighton Jones LLC raised its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY boosted its position in shares of Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after buying an additional 48,805 shares during the last quarter. Finally, United Bank grew its stake in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after buying an additional 3,120 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on GOOGL shares. Truist Financial set a $420.00 price target on Alphabet and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Morgan Stanley set a $400.00 price objective on Alphabet and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $425.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Robert W. Baird lifted their target price on Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Finally, BNP Paribas Exane lifted their target price on Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Buy" and a consensus target price of $419.86.
View Our Latest Report on Alphabet
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway sharply increased its Alphabet position. Berkshire disclosed an 83% second-quarter increase, adding approximately 48 million shares and bringing its holding to nearly 106 million shares valued at about $37 billion. Warren Buffett said he initiated the investment, reinforcing the view that Alphabet offers strong cash generation, attractive valuation and durable growth. Berkshire Just Made a Huge Alphabet Bet—Should You Follow?
- Positive Sentiment: Other prominent investors also reported Alphabet purchases. Filings indicated buying by investors including David Tepper, Stanley Druckenmiller and Seth Klarman, adding to the institutional endorsement of GOOGL’s AI, cloud and advertising outlook. Billionaires Loading Into Alphabet Stock
- Positive Sentiment: Alphabet is expanding its AI capabilities. Google agreed to pay $10 million for anonymized Spirit Airlines business data and software for product development and AI training, while some employees from workflow-automation startup Relay are joining Google’s Chrome team. These moves support continued investment in AI products, though the direct financial impact is likely limited. Google to Buy Spirit Airlines Business Data
- Neutral Sentiment: AI spending is creating both opportunity and financing pressure. Alphabet was among several companies issuing large volumes of AI-related debt, potentially funding cloud and data-center expansion but increasing interest costs and balance-sheet risk. Reports that Alphabet is considering an Australian-dollar bond could reinforce that concern. AI’s Borrowing Binge
- Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Alphabet investors. The release provided few details, and an investigation does not establish wrongdoing, but the announcement could create short-term legal and reputational pressure. Pomerantz Investor Alert
Insider Buying and Selling
In related news, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the firm'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 completion of the sale, the chief accounting officer owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 451,945 shares of company stock valued at $12,382,714. Company insiders own 11.61% of the company's stock.
Alphabet Trading Up 0.0%
Shares of NASDAQ GOOGL opened at $344.17 on Wednesday. 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 business has a fifty day simple moving average of $352.87 and a two-hundred day simple moving average of $341.28. The firm has a market cap of $4.21 trillion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. Alphabet Inc. has a twelve month low of $196.60 and a twelve month high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is 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.
See Also
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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