Convergence Financial LLC Has $19.27 Million Stock Holdings in Alphabet Inc. $GOOGL

Convergence Financial LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 89.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,929 shares of the information services provider's stock after buying an additional 25,506 shares during the quarter. Alphabet makes up 1.5% of Convergence Financial LLC's holdings, making the stock its 11th biggest holding. Convergence Financial LLC's holdings in Alphabet were worth $19,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Wealth LLC boosted its stake in shares of Alphabet by 11.8% during the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after purchasing an additional 93,293 shares during the period. PFG Investments LLC raised its position in Alphabet by 2.6% in the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock worth $25,679,000 after purchasing an additional 2,269 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new stake in Alphabet in the 4th quarter worth about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in Alphabet by 17.1% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock worth $37,236,000 after purchasing an additional 17,415 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its stake in Alphabet by 66.1% in the fourth quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock worth $7,161,000 after purchasing an additional 9,105 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on GOOGL shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Zacks Research downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. BNP Paribas Exane boosted their target price on shares of Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Susquehanna restated a "positive" rating and issued a $460.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn raised their price target on shares of Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Six analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Buy" and an average price target of $420.19.

Alphabet Stock Down 0.3%

NASDAQ:GOOGL opened at $346.96 on Wednesday. The company's 50 day moving average is $351.05 and its two-hundred day moving average is $341.51. The company has a market cap of $4.24 trillion, a PE ratio of 17.43, a P/E/G ratio of 0.98 and a beta of 1.24. Alphabet Inc. has a twelve month low of $205.65 and a twelve month high of $408.61. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share 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 business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's payout ratio is 4.42%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction 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 completion of the transaction, the insider owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the firm'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 sale, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 451,945 shares of company stock valued at $12,382,714 in the last quarter. Company insiders own 11.61% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway significantly increased its Alphabet position. Berkshire’s second-quarter filing reportedly showed an 83% increase in its stake to approximately $37.8 billion, making Alphabet one of its largest holdings. The purchase may reinforce investor confidence in Alphabet’s valuation, cash generation and AI growth prospects. Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding
• Positive Sentiment: Google expanded Gemini Enterprise into legal and financial services. New specialized AI agents and tools could help Google Cloud monetize Gemini, compete with Anthropic and OpenAI, and deepen relationships with high-value enterprise customers. Google expands Gemini AI platform for law firms, lawyers
• Positive Sentiment: Alphabet-owned Waymo is expanding internationally. Waymo plans to test autonomous vehicles in Munich and launch commercial driverless rides in Germany in 2027, its first European market. The move supports the long-term growth case for Alphabet’s autonomous-driving investments, although near-term financial benefits are likely limited. Waymo to begin testing autonomous vehicles in Munich
• Positive Sentiment: Google’s in-house TPU strategy is attracting attention. Reports that TPU volume could potentially triple by 2027 suggest growing demand for Google’s AI infrastructure and could improve cloud economics while reducing reliance on Nvidia hardware. Google TPU Volume Could Triple to 8.8 Million by 2027
• Neutral Sentiment: Google reportedly plans to move Pixel manufacturing out of China by 2027. Shifting production to Vietnam and India could diversify supply chains, but relocation costs and execution risks make the immediate earnings impact uncertain. Google plans to move all Pixel manufacturing out of China by 2027
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Alphabet investors. The notice provides few details, but securities-law investigations can create headline risk, potential legal expenses and uncertainty for shareholders. Investor Alert: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Alphabet
• Negative Sentiment: Possible delays to a new Gemini Pro release may be weighing on AI sentiment. Reports that a flagship Gemini update may not arrive before late September could raise concerns about Google’s pace of innovation as competition from Anthropic and OpenAI intensifies. Gemini Pro delay leaves Google with an empty flagship tier

Alphabet Company Profile

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.

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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