Envestnet Portfolio Solutions Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,700 shares of the information services provider's stock after acquiring an additional 19,798 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Alphabet were worth $78,855,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in Alphabet by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,477,002 shares of the information services provider's stock valued at $2,672,041,000 after acquiring an additional 159,769 shares during the last quarter. State Street Corp boosted its holdings in shares of Alphabet by 5.6% during the 2nd quarter. State Street Corp now owns 238,977,259 shares of the information services provider's stock valued at $85,403,303,000 after purchasing an additional 12,718,127 shares during the last quarter. Premier Financial Group bought a new position in shares of Alphabet during the 2nd quarter valued at about $45,000. Security National Bank of Sioux City Iowa IA grew its position in shares of Alphabet by 27.8% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 27,451 shares of the information services provider's stock valued at $9,810,000 after purchasing an additional 5,965 shares in the last quarter. Finally, Wellington Altus USA Inc. increased its holdings in shares of Alphabet by 57.0% in the second quarter. Wellington Altus USA Inc. now owns 5,145 shares of the information services provider's stock worth $1,839,000 after purchasing an additional 1,867 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet News Summary
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
Analyst Ratings Changes
GOOGL has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Citizens Jmp reaffirmed a "market outperform" rating and set a $515.00 price objective on shares of Alphabet in a report on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Friday, July 17th. Finally, BMO Capital Markets set a $465.00 target price on shares of Alphabet and gave the company an "outperform" rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Buy" and a consensus price target of $422.16.
Read Our Latest Stock Report on Alphabet
Insider Transactions at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $337.71, for a total transaction of $27,692.22. Following the sale, the director directly owned 18,995 shares of the company's stock, valued at $6,414,801.45. This represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 450,875 shares of company stock worth $11,984,482. 11.61% of the stock is currently owned by insiders.
Alphabet Stock Down 3.8%
Shares of GOOGL opened at $337.83 on Thursday. 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 business has a fifty day moving average of $344.42 and a 200 day moving average of $346.14. The company has a market cap of $4.13 trillion, a PE ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.22. Alphabet Inc. has a 52-week low of $235.84 and a 52-week high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. On average, sell-side analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 7th were paid a $0.22 dividend. The ex-dividend date 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 presently 4.42%.
About Alphabet
(
Free Report)
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.
See Also
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