Caitong International Asset Management Co. Ltd grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 595.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,895 shares of the information services provider's stock after acquiring an additional 29,018 shares during the quarter. Alphabet comprises 1.7% of Caitong International Asset Management Co. Ltd's holdings, making the stock its 10th largest holding. Caitong International Asset Management Co. Ltd's holdings in Alphabet were worth $12,113,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of GOOGL. Brighton Jones LLC raised its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased 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 worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in shares of Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after acquiring an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after acquiring an additional 48,805 shares during the last quarter. Finally, United Bank lifted its position in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after acquiring an additional 3,120 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Up 0.9%
Shares of Alphabet stock opened at $348.06 on Tuesday. The firm has a market cap of $4.26 trillion, a PE ratio of 17.48, a P/E/G ratio of 0.97 and a beta of 1.24. Alphabet Inc. has a 1 year low of $205.28 and a 1 year high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a fifty day moving average price of $351.57 and a 200-day moving average price of $341.41.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Equities research analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. New Street Research upped their price target on Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Friday, June 5th. Truist Financial set a $420.00 price target on Alphabet and gave the company a "buy" rating in a research report on Thursday, July 23rd. Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a report on Friday, May 15th. Six investment 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, the stock currently has a consensus rating of "Buy" and a consensus price target of $420.19.
View Our Latest Analysis on GOOGL
Insider Activity at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 451,945 shares of company stock valued at $12,382,714 over the last quarter. 11.61% of the stock is currently owned by insiders.
Key Headlines Impacting Alphabet
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
Alphabet Company Profile
(
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.
Recommended Stories
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
