Ferguson Wellman Capital Management Inc. Has $436.51 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Ferguson Wellman Capital Management increased its Alphabet stake by 0.9% to 1.22 million shares, valued at approximately $436.5 million. Alphabet now represents 5.3% of the firm’s portfolio and is its largest holding.
• Alphabet reported quarterly earnings of $9.11 per share and revenue of $119.8 billion, exceeding consensus estimates of $2.89 per share and $117.07 billion, respectively. Analysts maintain a consensus “Buy” rating with an average price target of $420.19.
• Institutional investors own about 40% of Alphabet, while insiders sold 451,925 shares worth roughly $12.4 million over the past 90 days. The company also announced a quarterly dividend of $0.22 per share, equivalent to a 0.3% annualized yield.

Ferguson Wellman Capital Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,221,460 shares of the information services provider's stock after buying an additional 10,987 shares during the quarter. Alphabet comprises 5.3% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its largest position. Ferguson Wellman Capital Management Inc.'s holdings in Alphabet were worth $436,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $30,534,239,000. Cardano Risk Management B.V. boosted its holdings in shares of Alphabet by 855.3% during the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock valued at $4,546,413,000 after buying an additional 13,004,828 shares in the last quarter. Capital World Investors grew its position in shares of Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after buying an additional 11,605,785 shares during the period. Diamant Asset Management Inc. grew its position in shares of Alphabet by 28,950.0% in the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock worth $2,671,986,000 after buying an additional 9,259,940 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Alphabet by 90.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider's stock worth $4,900,078,000 after acquiring an additional 8,112,680 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $337.71, for a total value of $27,692.22. Following the completion of the sale, the director owned 18,995 shares of the company's stock, valued at $6,414,801.45. This trade represents a 0.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 451,925 shares of company stock valued at $12,371,544. 11.61% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.8%

Alphabet stock opened at $338.50 on Friday. 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's 50-day moving average price is $346.75 and its 200 day moving average price is $343.66. Alphabet Inc. has a 52 week low of $235.84 and a 52 week high of $408.61. The firm has a market cap of $4.14 trillion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 20.52 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders 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 dividend yield of 0.3%. Alphabet's dividend payout ratio is presently 4.42%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GOOGL shares. Pivotal Research reissued a "buy" rating and set a $475.00 price target (up from $470.00) on shares of Alphabet in a research report on Thursday, July 23rd. Truist Financial set a $420.00 price objective on shares of Alphabet and gave the stock a "buy" rating in a report on Thursday, July 23rd. Wedbush reaffirmed an "outperform" rating and issued a $445.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Wells Fargo & Company set a $411.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, DZ Bank raised shares of Alphabet to a "strong-buy" rating in a report on Thursday, July 23rd. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Buy" and an average price target of $420.19.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google agreed to secure nuclear power for 22 years, reportedly locking in roughly half of a plant’s output through 2049. The deal could provide more predictable electricity costs and reliable power for energy-intensive AI data centers, strengthening Alphabet’s infrastructure position. Alphabet Jumps 2.5% After Locking In 22 Years of Nuclear Power
• Positive Sentiment: Google completed its acquisition of AI startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees are joining Google, potentially adding talent focused on AI agents and automation. Google just completed its $1.5 billion-plus deal for AI startup Mechanize
• Positive Sentiment: Investor commentary highlighted Alphabet’s strong AI and cloud outlook. Google Cloud is reportedly growing 82% year over year, while Alphabet’s Gemini technology is expanding into professional video-editing software, supporting the case that AI can broaden enterprise revenue beyond search advertising. Microsoft Vs. Alphabet: The Enterprise Fight No One Saw Coming
• Positive Sentiment: Recent coverage continues to present Alphabet as attractively valued relative to its growth prospects. The company’s latest reported quarter exceeded expectations, with earnings of $9.11 per share versus a $2.89 consensus estimate and revenue of $119.8 billion versus $117.07 billion expected.
• Neutral Sentiment: Alphabet’s inclusion among major AI and cloud beneficiaries, along with Berkshire Hathaway’s reported position in the company, may support investor interest but does not represent a new operating catalyst. Berkshire Hathaway Has a New Top Holding, and It Dominates Its Market
• Negative Sentiment: A law firm said it is continuing an investigation into possible federal securities-law violations involving Alphabet. The announcement does not establish wrongdoing, but it introduces a potential legal and reputational overhang. Securities Fraud Investigation Into Alphabet Continues
• Negative Sentiment: Alphabet faces scrutiny over the scale of AI infrastructure spending, potential financing pressure across the AI industry, and electricity-demand concerns related to new data centers. Finland opposition parties have warned that Google’s expansion could strain local power supplies and raise energy costs. Finland Risks Strained Power Supply After Google AI Deal

Alphabet Company Profile

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.