Chesley Taft & Associates LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,825 shares of the information services provider's stock after selling 2,778 shares during the quarter. Alphabet makes up approximately 1.4% of Chesley Taft & Associates LLC's investment portfolio, making the stock its 17th largest position. Chesley Taft & Associates LLC's holdings in Alphabet were worth $36,032,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $32,000. EMC Capital Management acquired a new stake in Alphabet during the fourth quarter worth $33,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet during the fourth quarter worth $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter valued at $52,000. Finally, Kentucky Trust Co raised its position in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Down 0.1%
Shares of NASDAQ:GOOGL opened at $345.90 on Friday. The firm has a market capitalization of $4.23 trillion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. Alphabet Inc. has a 1 year low of $196.60 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 firm's 50-day moving average is $353.66 and its two-hundred day moving average is $341.10.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is presently 4.42%.
Insider Buying and Selling
In related news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Wednesday, July 29th. The stock was 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 directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 82 shares of the business's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total value of $27,337.98. Following the transaction, the director directly owned 18,914 shares of the company's stock, valued at $6,305,738.46. The trade was a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,945 shares of company stock valued at $12,382,714 in the last three months. 11.61% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on GOOGL shares. UBS Group lowered their price target on Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a report on Thursday, July 23rd. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $393.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $390.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. CICC Research lifted their price target on shares of Alphabet from $388.00 to $407.91 and gave the company an "outperform" rating in a research report on Friday, May 1st. Finally, Citigroup reissued an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Five research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $419.86.
Read Our Latest Report on Alphabet
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway sharply increased its Alphabet position. Berkshire owned approximately 106 million shares worth $37.9 billion at the end of June after raising its stake by 83% in the second quarter. Alphabet is now Berkshire’s third-largest U.S.-listed equity holding, a high-profile vote of confidence under CEO Greg Abel. Berkshire Hathaway boosts Alphabet to a top three holding
- Positive Sentiment: Alphabet’s SpaceX investment has become exceptionally valuable. The company disclosed that its roughly $900 million investment in SpaceX in 2015 was worth about $94 billion at the end of June. The gain highlights Alphabet’s ability to generate returns from strategic investments, although it is not recurring operating revenue. Alphabet's SpaceX bet grows 100-fold over a decade
- Positive Sentiment: Google launched Gemini 3.7 Flash for coding and automated business workflows. The new model could strengthen Alphabet’s position in enterprise AI and agent-based software, although investors are still awaiting details on the flagship Gemini Pro release. Google unveils Gemini 3.7 Flash AI model
- Neutral Sentiment: Google will let users remove visible watermarks from AI-generated images, videos and songs while retaining invisible SynthID and C2PA metadata. The policy may improve user flexibility but could raise questions about content provenance and misuse. Google will now allow users to remove visible watermark from its AI generations
- Negative Sentiment: AI investment and competitive pressures remain overhangs. Reports cite rising AI capital expenditures and cash-flow pressure, while Nvidia’s large financing arrangement could challenge Alphabet’s custom-chip strategy. Traders also reduced expectations for an imminent Gemini Pro launch. Alphabet's stock slips as Nvidia financing deal threatens custom chips
- Negative Sentiment: Zacks Research downgraded Alphabet from “strong buy” to “hold,” reflecting valuation and spending concerns. In addition, Pomerantz announced an investigation into potential investor claims, creating a modest legal-risk overhang. GOOGL Down 19% From 52-Week High
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
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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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