Empire Financial Management Company LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 43.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,490 shares of the information services provider's stock after selling 19,538 shares during the period. Alphabet accounts for 1.7% of Empire Financial Management Company LLC's investment portfolio, making the stock its 10th largest holding. Empire Financial Management Company LLC's holdings in Alphabet were worth $7,330,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in shares of Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after acquiring an additional 581 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank grew its position in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after acquiring an additional 3,120 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In other Alphabet news, Director Frances Arnold sold 82 shares of the company's 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 transaction, the director directly owned 18,914 shares in the company, valued at approximately $6,305,738.46. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 600,547 shares of company stock worth $16,255,540 in the last ninety days. Corporate insiders own 11.61% of the company's stock.
Alphabet Stock Down 4.0%
GOOGL opened at $362.43 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 12 month low of $193.67 and a 12 month high of $408.61. The stock has a market capitalization of $4.43 trillion, a P/E ratio of 18.20, a P/E/G ratio of 1.06 and a beta of 1.24. The business has a 50 day simple moving average of $356.85 and a 200-day simple moving average of $340.12.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, equities analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors 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 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is 4.42%.
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google is reportedly discussing a potential deal valued at more than $1.5 billion with AI coding-agent startup Mechanize. The arrangement could provide access to specialized talent and technology in a rapidly expanding AI application market. Google is in talks for a $1.5 billion-plus deal with AI coding agent startup Mechanize
- Positive Sentiment: Alphabet continues to benefit from strong fundamentals and AI-related growth opportunities, including its cloud business, advertising franchise and direct sales of custom Tensor Processing Units. Analysts remain broadly optimistic about the stock’s long-term growth prospects. Is Alphabet a Solid Growth Stock?
- Positive Sentiment: Alphabet-owned Waymo opened its Dallas robotaxi service to all residents and visitors, supporting the company’s effort to scale autonomous-driving operations. Waymo opens up robotaxi service in Dallas to everyone
- Neutral Sentiment: Demis Hassabis is moving from leading Google DeepMind into an Alphabet chief scientist role focused on long-term research and AI safety. Management described the move as a leadership realignment, but investors are weighing whether it could disrupt near-term product execution. Google shakes up AI leadership as DeepMind chief shifts role
- Negative Sentiment: Longtime chief scientist Jeff Dean and three other senior AI researchers are leaving Google to launch Discovery Loop, an AI startup focused on automated research and drug design. The departures intensify concerns over the loss of influential technical talent during the AI race. Google chief scientist Jeff Dean leaving in AI reshuffle
- Negative Sentiment: The leadership overhaul comes while Google’s latest flagship Gemini release remains delayed, increasing investor anxiety about product momentum and competitive positioning. Why is Alphabet stock falling?
- Negative Sentiment: A U.K. tribunal allowed a roughly $6.7 billion advertiser class action to proceed, adding to Alphabet’s regulatory and legal exposure in its search and advertising businesses. UK Tribunal Rejects Google Bid to Block Advertiser Class Action
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on GOOGL shares. Daiwa Securities Group lifted their target price on shares of Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Arete Research raised their price objective on shares of Alphabet from $405.00 to $425.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Morgan Stanley set a $400.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Susquehanna reaffirmed a "positive" rating and issued a $460.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Loop Capital increased their target price on shares of Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $419.86.
Read Our Latest Stock Analysis on GOOGL
About Alphabet
(
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.
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