E Fund Management Co. Ltd. Has $59.58 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• E Fund Management cut its Alphabet position by 62% during the second quarter, selling 271,888 shares and retaining 166,727 shares worth approximately $59.58 million.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $420.19; individual targets range from $420 to $490.
• Alphabet reported quarterly revenue of $119.8 billion and EPS of $9.11, exceeding estimates, while also declaring a quarterly dividend of $0.22 per share.

E Fund Management Co. Ltd. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 62.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,727 shares of the information services provider's stock after selling 271,888 shares during the quarter. Alphabet comprises 1.3% of E Fund Management Co. Ltd.'s holdings, making the stock its 18th largest holding. E Fund Management Co. Ltd.'s holdings in Alphabet were worth $59,583,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the 4th quarter valued at $32,000. EMC Capital Management acquired a new position in Alphabet during the fourth quarter worth $33,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet in the fourth quarter valued at $38,000. Bard Associates Inc. bought a new position in shares of Alphabet in the fourth quarter valued at $52,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Alphabet during the third quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial set a $420.00 target price on shares of Alphabet and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Wedbush reiterated an "outperform" rating and set a $445.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. Pivotal Research reiterated a "buy" rating and set a $475.00 price target (up from $470.00) on shares of Alphabet in a research note on Thursday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $425.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Finally, Loop Capital increased their price objective on Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $420.19.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: A federal judge rejected the U.S. government’s request to force Google to sell its AdX advertising exchange and other ad-tech assets. Although Alphabet must change certain business practices, avoiding a breakup preserves the company’s advertising infrastructure and revenue potential. Google defeats US bid to force ad tech sale
• Positive Sentiment: Berkshire Hathaway increased its Alphabet stake, with CEO Greg Abel describing Google as a significant AI player. The investment is a high-profile endorsement of Alphabet’s long-term competitive position in AI. Berkshire CEO Abel says Alphabet a significant player in AI
• Positive Sentiment: Google introduced conversational AI voice features for Gmail, Docs and Keep, expanding Gemini’s integration into widely used Workspace products. A new weather-forecasting model and planned AI image tools also highlight continued product development and potential monetization opportunities. Google launches AI voice features in Gmail, Docs and Keep
• Positive Sentiment: Rosenblatt Securities reaffirmed its buy rating and set a $410 price target. Alphabet will also pay a quarterly dividend of $0.22 per share to eligible shareholders, adding to its shareholder-return appeal. Google to pay dividends this month
• Neutral Sentiment: Alphabet agreed to purchase approximately 396 megawatts of geothermal power from Fervo Energy for a Utah data center, with an expansion option. The deal supports reliable power for AI infrastructure but also underscores the scale and cost of Alphabet’s data-center buildout.
• Negative Sentiment: Investors continue to weigh antitrust-related behavioral remedies, a securities-fraud investigation, insider selling reports and concerns that the promised Gemini 3.5 Pro flagship model remains delayed. These issues could limit sentiment despite the favorable breakup ruling. Securities fraud investigation into Alphabet

Alphabet Stock Up 1.6%

Alphabet stock opened at $342.48 on Friday. Alphabet Inc. has a fifty-two week low of $226.11 and a fifty-two week high of $408.61. The stock has a market cap of $4.19 trillion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The firm's 50-day simple moving average is $349.00 and its 200 day simple moving average is $342.64. 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 issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Research analysts predict that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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 $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 0.3%. Alphabet's dividend payout ratio is currently 4.42%.

Insiders Place Their Bets

In related news, insider John Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Hennessy sold 1,050 shares of Alphabet stock in a transaction 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 $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. In the last three months, insiders sold 451,925 shares of company stock valued at $12,371,544. 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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