Edgestream Partners L.P. Trims Position in Alphabet Inc. $GOOG

Key Points

• Edgestream Partners cut its Alphabet position by 86.8% in the first quarter, selling 25,938 shares and retaining 3,941 shares valued at approximately $1.13 million. Institutional investors overall own 27.26% of Alphabet.
• Alphabet reported quarterly revenue of $119.8 billion, up 24.2% year over year, and earnings of $9.11 per share, substantially above the $2.87 consensus estimate. Shares opened at $372.47, near the upper end of their 52-week range.
• Analysts remain broadly bullish, with a consensus “Buy” rating and a $410.09 price target, while Alphabet announced a quarterly dividend of $0.22 per share. Insiders, however, sold approximately $16.3 million worth of stock over the past 90 days.

Edgestream Partners L.P. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 86.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,941 shares of the information services provider's stock after selling 25,938 shares during the period. Edgestream Partners L.P.'s holdings in Alphabet were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Gerber Kawasaki Wealth & Investment Management raised its stake in shares of Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after buying an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after acquiring an additional 4,239 shares during the period. Violich Capital Management Inc. grew its stake in Alphabet by 1.0% in the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock valued at $106,936,000 after acquiring an additional 3,378 shares during the period. Robinhood Asset Management LLC purchased a new stake in Alphabet in the 4th quarter worth $20,337,000. Finally, TrueMark Investments LLC purchased a new stake in Alphabet in the 1st quarter worth $1,277,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of Alphabet 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 sale, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Insiders have sold 600,547 shares of company stock worth $16,255,540 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 4.4%

Shares of GOOG opened at $372.47 on Tuesday. Alphabet Inc. has a 52-week low of $190.92 and a 52-week high of $404.47. 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 stock has a fifty day simple moving average of $355.68 and a two-hundred day simple moving average of $338.20. The company has a market capitalization of $4.56 trillion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced 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 $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $116.53 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The company's revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 20.51 EPS for the current 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 dividend of $0.22 per share. 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 0.2%. Alphabet's payout ratio is 4.42%.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Wedbush initiated coverage on shares of Alphabet in a report on Thursday, July 16th. They set an "outperform" rating and a $445.00 price objective on the stock. Barclays reissued an "overweight" rating and set a $425.00 target price (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Rosenblatt Securities set a $393.00 price target on shares of Alphabet in a research report on Thursday, July 23rd. Pivotal Research upped their price target on shares of Alphabet from $470.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, TD Cowen reaffirmed a "buy" rating and issued a $475.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $410.09.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Strong earnings and AI spending outlook: Alphabet’s latest results showed revenue growth of 24.2% year over year and substantially exceeded analyst expectations. Reports highlighted Google Cloud revenue rising 82% to $24.8 billion, a 35.6% operating margin and a record $514 billion backlog, supporting the argument that AI infrastructure spending is translating into demand. Alphabet's AI Spending Finally Makes Sense
• Positive Sentiment: Growing confidence in AI leadership: Google DeepMind commentary suggested the industry may be entering a new stage of AI development, while broader hyperscaler earnings renewed investor appetite for AI-related stocks, including Alphabet. Analysts and growth-stock commentary remain broadly constructive, with multiple buy or overweight ratings and a reported median price target above current trading levels. Google DeepMind Says the Next Stage of AI May Already Be Starting
• Positive Sentiment: Waymo provides an additional growth narrative: An analysis cited by media reports found Waymo robotaxis crashed 68% less often than human drivers. Improved safety could support the long-term commercial expansion and valuation of Alphabet’s autonomous-driving business. Waymo robotaxis found to crash 68% less often than human drivers
• Positive Sentiment: Institutional support: Massachusetts Financial Services reportedly increased its Alphabet position by approximately 23%, adding more than five million shares. That purchase reinforced the perception that professional investors view Alphabet’s AI and cloud prospects favorably. Massachusetts Financial Services fund update
• Neutral Sentiment: Regulatory discussions ahead: Google representatives are expected to meet with the White House, Anthropic and OpenAI to discuss a proposed AI oversight framework. The meeting could provide clarity but also highlights potential future compliance costs and restrictions. AI giants to meet with White House
• Negative Sentiment: Cloud competition remains a risk: Microsoft continues to lead Alphabet in cloud market share, potentially limiting Google Cloud’s ability to convert its strong backlog into sustained market-share gains. Microsoft Races Ahead of Google in the Cloud
• Negative Sentiment: AI product-control concerns: Google reportedly rolled back an AI feature in Google Earth after users generated fake satellite imagery, raising questions about product safeguards, reputational risk and the pace of AI deployment. For a Day, Google Made It Easy to Spoof Satellite Imagery

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.