CoreCap Advisors LLC Buys 2,015 Shares of Alphabet Inc. $GOOGL

Key Points

• CoreCap Advisors increased its Alphabet stake by 6.1%, purchasing 2,015 shares to hold 35,036 shares valued at approximately $12.5 million. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet reported quarterly revenue of $119.8 billion and earnings of $9.11 per share, exceeding analyst estimates. Analysts maintain a “Buy” consensus rating with an average price target of $419.86, above the reported share price of $343.80.
• Alphabet declared a quarterly dividend of $0.22 per share, equivalent to an annualized yield of 0.3%, while insiders sold about $16.3 million of stock during the last quarter.

CoreCap Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,036 shares of the information services provider's stock after purchasing an additional 2,015 shares during the quarter. CoreCap Advisors LLC's holdings in Alphabet were worth $12,521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares during the last quarter. State Street Corp increased its stake in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after purchasing an additional 2,666,676 shares during the period. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at about $30,534,239,000. Finally, Bank of America Corp DE lifted its stake in Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after purchasing an additional 3,218,852 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 3.8%

GOOGL opened at $343.80 on Wednesday. The stock has a fifty day moving average of $354.94 and a 200-day moving average of $340.84. The company has a market capitalization of $4.20 trillion, a P/E ratio of 17.27, a P/E/G ratio of 1.00 and a beta of 1.24. Alphabet Inc. has a fifty-two week low of $196.60 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet 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. Insiders have sold a total of 600,547 shares of company stock worth $16,255,540 in the last quarter. Corporate insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Zacks Research upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Evercore raised their price objective on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Susquehanna reiterated a "positive" rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Phillip Securities raised Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, CICC Research increased their price target on Alphabet from $388.00 to $407.91 and gave the company an "outperform" rating in a research note on Friday, May 1st. Six research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $419.86.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s Gemini app surpassed 1 billion monthly active users, marking a major distribution milestone that could strengthen Alphabet’s AI ecosystem, user engagement and monetization potential. Google's Gemini app surges to one billion users
• Positive Sentiment: Ryanair signed a five-year Google Cloud agreement to deploy Gemini and DeepMind models for crew scheduling and operational decisions, providing evidence of enterprise demand for Alphabet’s AI and cloud offerings. Ryanair signs five-year Google Cloud deal
• Positive Sentiment: Alphabet’s increased AI investment continues to attract investor interest, with analysts highlighting the company’s momentum and potential beneficiaries of its planned data-center spending. However, the scale of investment remains a key debate. Alphabet's Higher AI Spending Could Boost These ETFs
• Neutral Sentiment: Alphabet’s earnings influence on broader S&P 500 growth underscores its importance to market performance, but it also makes the stock more sensitive to shifts in technology-sector sentiment and portfolio positioning. Tech Stocks Have Stumbled
• Negative Sentiment: Alphabet remains exposed to more than 3,000 youth-addiction lawsuits alleging that social-media platforms were designed to harm young users. The litigation could create financial liability and increase regulatory pressure. Social media platforms still facing thousands of user addiction lawsuits
• Negative Sentiment: A French newspaper group asked regulators to investigate Google’s AI-generated search summaries, arguing they divert traffic from publishers. Similar disputes could raise compliance costs and threaten parts of Google’s search economics. French media asks French anti-trust watchdog to act on Google's AI
• Negative Sentiment: AI data centers face significant power and infrastructure constraints, adding execution risk to Alphabet’s large capital-spending plans and raising questions about returns on AI investment. AI's Next Bottleneck Isn't Chips, It's Power Infrastructure

About Alphabet

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.

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