Flputnam Investment Management Co. Grows Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Flputnam Investment Management increased its Alphabet stake by 9.3% in the second quarter, bringing its holdings to 262,666 shares valued at approximately $92.8 million. Institutional investors collectively own 27.26% of Alphabet.
• Alphabet reported quarterly EPS of $9.11, significantly exceeding the $2.87 consensus estimate, while revenue rose 24.2% year over year to $119.8 billion. Analysts maintain a consensus “Buy” rating with an average price target of $415.55.
• Alphabet shares opened at $341.75, and the company declared a quarterly dividend of $0.22 per share. Insiders have sold roughly 451,945 shares worth $12.4 million over the past 90 days.

Flputnam Investment Management Co. grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 262,666 shares of the information services provider's stock after buying an additional 22,369 shares during the period. Alphabet accounts for about 1.1% of Flputnam Investment Management Co.'s portfolio, making the stock its 17th largest position. Flputnam Investment Management Co.'s holdings in Alphabet were worth $92,808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares in the last quarter. State Street Corp increased its position in shares of Alphabet by 0.5% during the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock worth $58,712,878,000 after purchasing an additional 953,790 shares in the last quarter. Auto Owners Insurance Co increased its position in shares of Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP lifted its holdings in shares of Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock valued at $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 451,945 shares of company stock valued at $12,382,714. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GOOG shares. Canaccord Genuity Group set a $450.00 target price on Alphabet in a research note on Thursday, July 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Thursday, July 23rd. DZ Bank raised Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Piper Sandler restated an "overweight" rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $400.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Buy" and an average target price of $415.55.

Alphabet Stock Up 1.0%

GOOG stock opened at $341.75 on Friday. Alphabet Inc. has a one year low of $202.13 and a one year high of $404.47. 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's fifty day moving average is $350.34 and its 200 day moving average is $339.73. The firm has a market cap of $4.18 trillion, a PE ratio of 17.16, a P/E/G ratio of 0.95 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.Alphabet's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is presently 4.42%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI infrastructure expansion: Alphabet’s expanded custom-silicon relationship with Marvell covers components connected to Google’s TPU ecosystem, including inference accelerators, networking, storage, and memory products. The agreement gives Alphabet more supply-chain flexibility and supports continued AI capacity growth, although it may increase dependence on multiple chip partners. Jensen Huang Thinks This Chip Stock Could Hit $1 Trillion
• Positive Sentiment: Waymo growth: Alphabet’s autonomous-driving unit received approval to operate thousands of robotaxis in Nevada and has expanded its lower-cost next-generation vehicles to riders in Los Angeles, Phoenix, and San Francisco. Waymo also introduced a custom AI chip designed to reduce reliance on Nvidia and AMD, potentially improving long-term economics. Robotaxi Permits in Nevada
• Positive Sentiment: Investor and analyst support: Berkshire Hathaway significantly increased its Alphabet position, reinforcing the view that the company fits a value-oriented investment strategy. Rosenblatt initiated coverage with a “Buy” rating, while analysts continue to point to resilient Search, fast-growing Cloud, and strong earnings momentum. Berkshire’s Alphabet Investment
• Neutral Sentiment: DeepMind leadership transition: Nobel Prize-winning co-founder Demis Hassabis is moving from day-to-day management to chairman and chief scientist roles, while Koray Kavukcuoglu will oversee operations. The change could improve Alphabet-wide AI coordination, but investors may monitor execution and retention risks. DeepMind Leadership Change
• Negative Sentiment: Firebase enforcement risk: Indian authorities directed Google to remove hundreds of Firebase accounts allegedly used in bank impersonation scams. The action could increase compliance costs and renew concerns about misuse of Alphabet’s platforms. India Orders Removal of Firebase Accounts

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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