Claris Financial LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,890 shares of the information services provider's stock, valued at approximately $1,694,000. Alphabet comprises about 0.9% of Claris Financial LLC's investment portfolio, making the stock its 22nd largest position.
A number of other institutional investors have also modified their holdings of the stock. Strategic Wealth Advisors LLC raised its stake in Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after acquiring an additional 27 shares during the period. Rockbridge Investment Management LCC boosted its stake in Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after acquiring an additional 27 shares during the period. Midwest Professional Planners LTD. grew its holdings in shares of Alphabet by 1.2% during the first quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider's stock valued at $680,000 after purchasing an additional 29 shares during the last quarter. Symmetry Partners LLC grew its holdings in shares of Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after purchasing an additional 30 shares during the last quarter. Finally, Private Wealth Management Group LLC raised its position in shares of Alphabet by 1.2% during the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider's stock worth $730,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Activity
In related news, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction that occurred 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 directly owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 600,547 shares of company stock worth $16,255,540. Corporate insiders own 11.61% of the company's stock.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet is seeking up to $25 billion through a 10-part U.S. bond offering, with reports indicating orders could exceed $115 billion. The strong demand suggests investors and lenders remain confident in Alphabet’s credit profile, while the funds will support AI data centers, computing capacity and other corporate needs. Alphabet seeks up to $25 billion from its latest bond sale
- Positive Sentiment: AI demand continues to create growth opportunities for Google Cloud. AI lab Mirendil signed a multiyear agreement worth more than $100 million for Google Cloud computing capacity, reinforcing demand for Alphabet’s infrastructure and services. Mirendil signs Google Cloud deal
- Neutral Sentiment: Demis Hassabis is moving from day-to-day leadership of Google DeepMind to become Alphabet’s chief scientist and chair of DeepMind, with a focus on long-term research, artificial general intelligence and Isomorphic Labs. Management says the change is intended to improve coordination between research and commercialization. Demis Hassabis new role
- Negative Sentiment: Investors remain concerned that Hassabis’ reduced operating role, combined with the departure of longtime chief scientist Jeff Dean and other senior researchers, could weaken Alphabet’s ability to retain talent and compete in frontier AI. The leadership changes followed concerns about delays in Google’s next-generation Gemini products. Google AI leadership departures
- Negative Sentiment: The debt offering highlights the scale of Alphabet’s AI spending. Although borrowing can preserve cash for operations, it increases interest obligations and intensifies scrutiny over whether future AI revenue will justify the substantial capital investment. Alphabet bond offering and AI spending
- Negative Sentiment: Alphabet’s planned $15 billion India data-center project faces opposition over potential effects on water supplies and wildlife, creating possible permitting, reputational and construction risks. Google India data center environmental concerns
Analyst Ratings Changes
GOOGL has been the topic of several recent research reports. Evercore raised their price target on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Truist Financial set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a research note on Thursday, July 23rd. UBS Group dropped their target price on Alphabet from $400.00 to $379.00 and set a "neutral" rating on the stock in a research report on Thursday, July 23rd. DZ Bank upgraded Alphabet to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, BMO Capital Markets set a $465.00 price target on shares of Alphabet and gave the company an "outperform" rating in a report on Thursday, July 23rd. Six equities 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 company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Buy" and an average target price of $419.86.
Read Our Latest Stock Report on GOOGL
Alphabet Trading Down 1.3%
Shares of Alphabet stock opened at $357.75 on Friday. The business has a fifty day simple moving average of $356.20 and a 200-day simple moving average of $340.31. Alphabet Inc. has a fifty-two week low of $194.33 and a fifty-two week high of $408.61. The firm has a market cap of $4.38 trillion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.02 and a beta of 1.24. 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 (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, topping analysts' consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, equities analysts forecast that Alphabet Inc. will post 20.51 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is 4.42%.
Alphabet Profile
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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
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.
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