Engle Capital Management L.P. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,352 shares of the information services provider's stock after acquiring an additional 4,352 shares during the quarter. Alphabet accounts for about 2.6% of Engle Capital Management L.P.'s holdings, making the stock its 15th biggest position. Engle Capital Management L.P.'s holdings in Alphabet were worth $7,578,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in GOOGL. Brighton Jones LLC grew its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its holdings 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 in the last quarter. Matrix Asset Advisors Inc. NY lifted its position in shares of Alphabet by 17.6% during the 2nd 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 lifted its position in shares of Alphabet by 11.2% during the 2nd 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 boosted its stake in shares of Alphabet by 6.9% during the 2nd 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 in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting Alphabet
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
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $362.43 on Thursday. The company has a 50-day simple moving average of $356.85 and a 200-day simple moving average of $340.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The company has a market cap of $4.43 trillion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. Alphabet Inc. has a 12 month low of $193.67 and a 12 month high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's payout ratio is 4.42%.
Insiders Place Their Bets
In other news, Director John L. 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 completion of the sale, the director owned 1,481 shares of the company's stock, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 600,547 shares of company stock valued at $16,255,540 in the last quarter. 11.61% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on GOOGL. Rothschild & Co Redburn upped their price target on Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Truist Financial set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a report on Thursday, July 23rd. Wells Fargo & Company set a $411.00 target price on Alphabet and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Loop Capital upped their target price on Alphabet from $355.00 to $490.00 and gave the company a "buy" rating in a report on Friday, May 15th. Finally, Zacks Research raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. 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 company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $419.86.
View Our Latest Research Report 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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