Corient Private Wealth LP Grows Position in Alphabet Inc. $GOOG

Key Points

• Corient Private Wealth increased its Alphabet position by 15.8% in the second quarter, adding 687,967 shares to own 5.05 million shares worth approximately $1.78 billion.
• Analysts remain broadly positive, with an overall “Buy” rating and an average price target of $415.55, despite mixed target revisions from major firms.
• Alphabet reported quarterly revenue of $119.8 billion and EPS of $9.11, beating estimates, while announcing a quarterly dividend of $0.22 per share; investors continue to weigh strong growth against the high cost of its AI infrastructure investments.

Corient Private Wealth LP lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,048,951 shares of the information services provider's stock after purchasing an additional 687,967 shares during the quarter. Alphabet accounts for 2.4% of Corient Private Wealth LP's portfolio, making the stock its 6th largest position. Corient Private Wealth LP's holdings in Alphabet were worth $1,783,942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 27.0% during the second quarter. Principia Wealth Advisory LLC now owns 409 shares of the information services provider's stock worth $145,000 after buying an additional 87 shares in the last quarter. Wellington Grp LLC raised its stake in shares of Alphabet by 10.8% in the 2nd quarter. Wellington Grp LLC now owns 15,911 shares of the information services provider's stock valued at $5,622,000 after buying an additional 1,551 shares in the last quarter. Advus Financial Partners LLC lifted its holdings in shares of Alphabet by 1.8% during the 2nd quarter. Advus Financial Partners LLC now owns 3,808 shares of the information services provider's stock worth $1,345,000 after acquiring an additional 69 shares during the period. Kirkwood Financial Services bought a new position in shares of Alphabet during the 2nd quarter worth about $217,000. Finally, Groupe la Francaise boosted its position in shares of Alphabet by 1.4% during the 2nd quarter. Groupe la Francaise now owns 421,116 shares of the information services provider's stock valued at $148,861,000 after acquiring an additional 5,648 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Hennessy sold 1,050 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOG. Morgan Stanley lowered their target price on shares of Alphabet from $415.00 to $400.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Roth Capital raised their price target on shares of Alphabet from $435.00 to $440.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Wedbush initiated coverage on Alphabet in a report on Thursday, July 16th. They set an "outperform" rating and a $445.00 price objective on the stock. BMO Capital Markets upped their price objective on Alphabet from $455.00 to $465.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Finally, Truist Financial dropped their target price on Alphabet from $430.00 to $420.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $415.55.

Alphabet Trading Up 0.6%

Shares of Alphabet stock opened at $330.39 on Friday. The stock has a market capitalization of $4.04 trillion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 0.95 and a beta of 1.21. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $345.18 and a 200 day simple moving average of $341.69. Alphabet Inc. has a 12-month low of $236.58 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $6.24. The firm had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $2.31 EPS. Research analysts expect that Alphabet Inc. will post 20.5 earnings per share for the current fiscal 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 paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet announced a partnership with Morgan State University to establish an AI campus, potentially expanding long-term talent development, research access and adoption of Google Cloud and Gemini. Alphabet Morgan State University AI partnership
• Positive Sentiment: Google launched a dedicated Gemini app for Windows PCs, making its AI assistant more accessible and increasing the opportunity to drive usage across consumer devices and services. Gemini Windows app
• Positive Sentiment: Alphabet’s planned €13 billion investment in Finnish AI infrastructure, alongside a long-term agreement to purchase power from a nuclear plant, could provide reliable, lower-cost electricity for data centers and support Gemini, Search, Maps and YouTube. Google Finland AI infrastructure investment
• Positive Sentiment: Analysts and investment commentary continue to highlight Alphabet’s cloud growth, more than 20% revenue growth and strong recent earnings as evidence that the company can fund substantial AI investment while maintaining attractive profitability. Alphabet return on invested capital and cloud growth
• Neutral Sentiment: Reported short interest was listed at zero shares, unchanged from the prior report, so the data provide no meaningful evidence of short-covering pressure or growing bearish positioning.
• Negative Sentiment: Investors remain focused on the cost of Alphabet’s AI buildout. Estimates that AI capital expenditures could reach roughly $200 billion have raised concerns about pressure on free cash flow, even though the stock’s valuation is viewed as reasonable. Alphabet AI capital expenditures
• Negative Sentiment: Meta’s new Muse AI agent has renewed concerns that autonomous assistants could bypass traditional search pages and reduce Google search advertising opportunities. ARK Invest’s decision to sell approximately $28 million of Alphabet and buy Meta added to the competitive sentiment. Meta Muse competition
• Negative Sentiment: Potential regulation could increase infrastructure costs: proposed U.S. legislation would require large data-center users to pay the full incremental cost of power-grid upgrades, while Finnish officials have warned that Google’s expansion could strain electricity supply. Data Center Fair Share Act

Alphabet Company Profile

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google's core internet businesses from a collection of other ventures. Google remains Alphabet's largest business and serves users, advertisers, businesses and developers worldwide.

Google's principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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