Cornerstone Capital Inc. Has $60.29 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Cornerstone Capital reduced its Alphabet stake by 1.4% in the second quarter, selling 2,470 shares but retaining 168,701 shares valued at approximately $60.29 million. Alphabet remains the fund’s second-largest holding, representing 5.4% of its portfolio.
• Alphabet reported quarterly revenue of $119.80 billion and earnings per share of $9.11, both above analyst expectations. The company also declared a $0.22 quarterly dividend, equivalent to a 0.3% yield.
• Analyst sentiment remains broadly positive, with five Strong Buy and 45 Buy ratings and an average price target of $420.19, although investors face risks from rising AI infrastructure costs, supply-chain competition, legal issues and recent insider selling.

Cornerstone Capital Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,701 shares of the information services provider's stock after selling 2,470 shares during the period. Alphabet comprises 5.4% of Cornerstone Capital Inc.'s investment portfolio, making the stock its 2nd biggest holding. Cornerstone Capital Inc.'s holdings in Alphabet were worth $60,289,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOGL. NewEdge Wealth LLC raised 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 valued at $277,696,000 after purchasing an additional 93,293 shares during the period. PFG Investments LLC boosted its stake 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 bought a new position in Alphabet in the 4th quarter worth about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in Alphabet by 17.1% during the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock valued at $37,236,000 after buying an additional 17,415 shares in the last quarter. Finally, KLCM Advisors Inc. grew its holdings in Alphabet by 66.1% during the 4th quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock valued at $7,161,000 after buying an additional 9,105 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL opened at $340.67 on Friday. The stock has a 50-day moving average price of $352.30 and a 200-day moving average price of $341.34. Alphabet Inc. has a 12-month low of $199.43 and a 12-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. The stock has a market capitalization of $4.17 trillion, a P/E ratio of 17.11, a PEG ratio of 0.97 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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. 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%. Equities analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOGL shares. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a report on Thursday, July 23rd. Wall Street Zen cut shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Bank of America upped their target price on shares of Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. CICC Research upped their target price on shares of Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Dbs Bank increased their target price on shares of Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $420.19.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analyst remains bullish: Rosenblatt Securities reaffirmed its “buy” rating and set a $410 price target, implying substantial upside from the recent trading level. Analyst Scott Devitt also expects Alphabet to reach a new all-time high over the next 12 months. Rosenblatt rating
• Positive Sentiment: AI infrastructure and cloud growth remain key positives: Google Cloud reportedly grew revenue 82% year over year in the latest quarter, while Alphabet’s partnership with Marvell expands access to custom AI accelerators, networking, storage, and memory technologies connected to Google’s TPU ecosystem. The deal could improve supply-chain flexibility and support long-term AI capacity. Marvell Google AI chip deal
• Positive Sentiment: Waymo is expanding commercially: Alphabet’s autonomous-driving unit opened its lower-cost next-generation robotaxi to all riders in Los Angeles, Phoenix, and San Francisco, potentially improving the economics and scalability of the business. Waymo robotaxi expansion
• Neutral Sentiment: Google introduced a “favorite source” feature that lets users prioritize publishers in Search, Discover, and Google News. The move may help preserve publisher relationships and search content quality, but its effect on revenue is uncertain. Google publisher feature
• Neutral Sentiment: Alphabet is reportedly raising approximately $3.9 billion through its first Australian-dollar bond sale. The financing could support AI infrastructure investment, though it also underscores the capital intensity of the company’s expansion plans. Alphabet Australian dollar bond
• Negative Sentiment: Custom-chip competition is increasing: Marvell’s agreement and potential $12.2 billion warrant give Google an incentive to direct more purchases toward Marvell, raising concerns that Broadcom’s previously dominant role in Google’s TPU ecosystem could be diluted. While diversification may benefit Google over time, investors may view the deal as evidence that AI spending will require heavier investment and a more complex supply chain.
• Negative Sentiment: Legal and execution risks remain: A court delayed approval of Google’s proposed purchase of Spirit Airlines’ internal data after union objections, while Micro1 is offering more than Google’s reported $10 million bid. Separately, the departure of longtime AI leader Jeff Dean and expectations that the flagship Gemini Pro release may be delayed into the autumn add to investor uncertainty. Spirit Airlines data sale delay
• Negative Sentiment: A law firm announced an investigation into potential claims on behalf of Alphabet investors, creating an additional headline risk, although no allegations or financial impact were established in the announcement. Alphabet investor investigation

Insider Buying and Selling at Alphabet

In other 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 completion of the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company's stock in a transaction 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 disclosure for this sale is available in the SEC filing. Insiders have sold 451,945 shares of company stock valued at $12,382,714 over the last ninety days. Insiders own 11.61% of the company's stock.

Alphabet 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.

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