Foster Group Inc. Has $10.80 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Foster Group increased its Alphabet position by 8.6% in the second quarter, holding 30,230 shares valued at approximately $10.8 million. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet reported strong quarterly results, with $9.11 in earnings per share and $119.8 billion in revenue, exceeding analyst expectations. Its Gemini AI app surpassed 1 billion monthly users, while new enterprise partnerships and Google Cloud strength support continued AI growth.
• Analysts maintain a consensus “Buy” rating with a $419.86 price target, although insiders have sold shares recently. Alphabet also declared a quarterly dividend of $0.22 per share, yielding approximately 0.3%.

Foster Group Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,230 shares of the information services provider's stock after purchasing an additional 2,382 shares during the period. Foster Group Inc.'s holdings in Alphabet were worth $10,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. NewEdge Wealth LLC lifted its position in Alphabet by 11.8% during the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock valued at $277,696,000 after purchasing an additional 93,293 shares during the period. PFG Investments LLC grew its position in Alphabet by 2.6% during the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock worth $25,679,000 after purchasing an additional 2,269 shares during the period. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new stake in Alphabet during the 4th quarter worth about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Alphabet by 17.1% during the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock valued at $37,236,000 after buying an additional 17,415 shares during the last quarter. Finally, KLCM Advisors Inc. raised its stake in shares of Alphabet by 66.1% during the 4th quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock valued at $7,161,000 after buying an additional 9,105 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Gemini app has surpassed 1 billion monthly active users, strengthening the case that the company’s AI investments are gaining broad consumer adoption. Google's Gemini app surges to one billion users
• Positive Sentiment: Ryanair signed a five-year Google Cloud agreement to deploy Gemini, DeepMind and Workspace tools across its 35,000 employees, providing another example of enterprise AI monetization. Ryanair signs five-year Google Cloud deal
• Positive Sentiment: Analysts continue to view Alphabet as an attractive AI and cloud investment, citing strong Google Cloud margins and valuation support following its strong second-quarter results. Google Cloud margins supported Alphabet's stock
• Positive Sentiment: Alphabet unveiled Pixel 11 phones, the Pixel Watch 5, a $29 Pixel Tag and additional Gemini features, expanding its hardware ecosystem and opportunities to distribute AI services. Google unveils Pixel 11 lineup and Gemini features

Alphabet Stock Performance

Shares of GOOGL stock opened at $343.54 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61. The business's 50 day moving average is $354.63 and its two-hundred day moving average is $340.94. The company has a market capitalization of $4.20 trillion, a P/E ratio of 17.25, a P/E/G ratio of 0.96 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Analysts expect that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Robert W. Baird upped their target price on Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Bank of America lifted their price target on Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Zacks Research raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Mizuho upped their price objective on Alphabet from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Pivotal Research restated a "buy" rating and issued a $475.00 price objective (up from $470.00) on shares of Alphabet in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Buy" and a consensus price target of $419.86.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director directly owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 540,470 shares of company stock worth $14,873,168. Company insiders own 11.61% of the company's stock.

Alphabet Profile

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.

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.

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