Carmignac Gestion Has $412.48 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Carmignac Gestion reduced its Alphabet position by 14.2% in the second quarter, selling 191,258 shares. It still held 1.15 million shares worth approximately $412.48 million, representing 5.3% of its portfolio.
• Alphabet reported strong quarterly results, with $9.11 in EPS and $119.8 billion in revenue, surpassing analyst expectations. The company also paid a quarterly dividend of $0.22 per share.
• Despite recent insider selling totaling nearly $12 million over 90 days, analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $422.16.

Carmignac Gestion lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,154,334 shares of the information services provider's stock after selling 191,258 shares during the period. Alphabet accounts for about 5.3% of Carmignac Gestion's investment portfolio, making the stock its 5th biggest holding. Carmignac Gestion's holdings in Alphabet were worth $412,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the 4th quarter worth $32,000. EMC Capital Management bought a new stake in shares of Alphabet during the fourth quarter valued at about $33,000. Bard Associates Inc. acquired a new stake in Alphabet in the fourth quarter worth about $52,000. Van Den Berg Management I Inc. lifted its holdings in Alphabet by 319.6% in the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider's stock worth $61,000 after purchasing an additional 163 shares during the period. Finally, Graney & King LLC grew its position in Alphabet by 38.5% in the 2nd quarter. Graney & King LLC now owns 180 shares of the information services provider's stock valued at $64,000 after buying an additional 50 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction dated 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 owned 18,995 shares of the company's stock, valued at $6,414,801.45. The trade was a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 450,875 shares of company stock worth $11,984,482. 11.61% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $349.54 on Monday. The company's fifty day moving average is $345.20 and its two-hundred day moving average is $345.18. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $235.84 and a 12-month high of $408.61. The company has a market cap of $4.27 trillion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $117.07 billion. Equities 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 was paid on Monday, September 14th. Investors of record on Monday, September 7th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $410.00 price target on shares of Alphabet in a research note on Thursday, September 3rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Barclays reissued an "overweight" rating and set a $425.00 target price (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Roth Capital restated a "buy" rating and issued a $440.00 target price (up from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, BMO Capital Markets set a $465.00 price target on Alphabet and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $422.16.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Alphabet Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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.