Envestnet Asset Management Inc. Has $2.67 Billion Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Envestnet Asset Management increased its Alphabet stake by 2.2% in the second quarter, holding 7.48 million shares valued at approximately $2.67 billion. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet reported strong quarterly results, with $119.8 billion in revenue and $9.11 in EPS, substantially exceeding analyst expectations. Analysts maintain a broadly positive outlook, with an average “Buy” rating and a $422.16 price target.
• AI growth, cloud expansion and YouTube investments support Alphabet’s outlook, but the company faces risks from cheaper Anthropic AI offerings, investor concerns over AI spending, regulatory pressure and recent insider selling.

Envestnet Asset Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,477,002 shares of the information services provider's stock after purchasing an additional 159,769 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Alphabet worth $2,672,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Wealth Advisors LLC boosted its stake in shares of Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after buying an additional 27 shares during the last quarter. Rockbridge Investment Management LCC raised its position in Alphabet by 0.5% during the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after acquiring an additional 27 shares in the last quarter. Ruggaard & Associates LLC lifted its holdings in Alphabet by 0.9% in the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock valued at $840,000 after acquiring an additional 27 shares during the period. Cadia Private Client LLC lifted its holdings in Alphabet by 1.1% in the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after acquiring an additional 28 shares during the period. Finally, Evansbrook LLC boosted its position in Alphabet by 0.3% in the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to benefit from strong AI-related growth. Reports point to a cloud backlog exceeding $500 billion, expanding Gemini adoption and AI monetization across cloud services, advertising and software. Prediction: This Magnificent Seven Stock Could Soar 50% by 2027
• Positive Sentiment: YouTube is investing in tools and incentives to retain prominent digital creators as it competes with Netflix, supporting the platform’s advertising and subscription opportunity. YouTube Is Battling Netflix Over Top Talent
• Positive Sentiment: Google agreed to support Georgia Power’s nuclear-plant upgrades, potentially adding 96 megawatts of capacity. The agreement could help secure electricity for Alphabet’s energy-intensive data-center expansion. Georgia Power Signs Google Deal to Boost Nuclear Capacity
• Neutral Sentiment: Analysts remain broadly constructive, with positive earnings revisions and no reported sell ratings. However, these expectations appear to be largely reflected in the valuation, limiting the immediate upside reaction.
• Negative Sentiment: Anthropic’s decision to lower Claude pricing increases competitive pressure on Google Cloud and may reduce revenue per comparable AI workload. Alphabet’s Slips as Claude Gets Cheaper
• Negative Sentiment: Investors are rotating within big technology stocks amid concerns about AI spending, competition and the pace of returns. Alphabet was among the weaker performers in that rotation. Alphabet Drops as AI Rotation Splits Big Tech
• Negative Sentiment: UK regulators proposed giving Android and Chrome users more choice over search engines and AI assistants, posing a potential threat to Google’s default-search advantage. Google also faces an appeal of a $425 million privacy verdict. UK Regulator Proposes Giving Consumers More Search Choice

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director owned 18,833 shares of the company's stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 450,875 shares of company stock valued at $11,984,482. 11.61% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $337.83 on Thursday. 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 firm has a fifty day moving average of $344.42 and a 200 day moving average of $346.14. The firm has a market cap of $4.13 trillion, a PE ratio of 16.97, a PEG ratio of 1.02 and a beta of 1.22. Alphabet Inc. has a one year low of $235.84 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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. As a group, research analysts predict that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 7th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. BMO Capital Markets set a $465.00 price objective on shares of Alphabet and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Truist Financial set a $420.00 price target on shares of Alphabet and gave the stock a "buy" rating in a report on Thursday, July 23rd. Pivotal Research reissued a "buy" rating and set a $475.00 price target (up from $470.00) on shares of Alphabet in a report on Thursday, July 23rd. Zacks Research lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $445.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $422.16.

About Alphabet

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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