DV Trading LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 139,012.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 466,026 shares of the information services provider's stock after acquiring an additional 465,691 shares during the period. Alphabet makes up 3.2% of DV Trading LLC's portfolio, making the stock its 2nd largest holding. DV Trading LLC's holdings in Alphabet were worth $134,010,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter worth about $30,534,239,000. Cardano Risk Management B.V. lifted its position in shares of Alphabet by 855.3% in the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock worth $4,546,413,000 after buying an additional 13,004,828 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% during 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 buying an additional 12,531,695 shares during the last quarter. Capital World Investors boosted its stake in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after buying an additional 11,605,785 shares during the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in Alphabet by 28,950.0% during the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock valued at $2,671,986,000 after buying an additional 9,259,940 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Activity
In related news, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $333.39, for a total transaction of $27,337.98. Following the completion of the transaction, the director directly owned 18,914 shares of the company's stock, valued at approximately $6,305,738.46. The trade was a 0.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 600,547 shares of company stock worth $16,255,540. Insiders own 11.61% of the company's stock.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
- Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
- Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal
Analysts Set New Price Targets
GOOGL has been the topic of a number of research reports. Barclays reaffirmed an "overweight" rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Citigroup reiterated an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Rosenblatt Securities restated a "neutral" rating and issued a $393.00 price target on shares of Alphabet in a research report on Thursday, July 23rd. Wall Street Zen downgraded shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, DZ Bank upgraded shares of Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average price target of $419.86.
Check Out Our Latest Analysis on GOOGL
Alphabet Stock Performance
NASDAQ GOOGL opened at $354.30 on Friday. The company has a market cap of $4.33 trillion, a P/E ratio of 17.80, a P/E/G ratio of 0.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The business's 50 day moving average price is $355.68 and its 200-day moving average price is $340.41. Alphabet Inc. has a fifty-two week low of $196.60 and a fifty-two week high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.89 by $6.22. The company 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%. Sell-side analysts predict that Alphabet Inc. will post 20.51 earnings per share 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 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 dividend yield of 0.2%. Alphabet's dividend payout ratio is currently 4.42%.
Alphabet Company 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.
See Also
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