Franklin Street Advisors Inc. NC Sells 37,988 Shares of Alphabet Inc. $GOOG

Key Points

• Franklin Street Advisors reduced its Alphabet position by 12.8%, selling 37,988 shares in the second quarter. The fund still held 259,323 shares worth approximately $91.6 million, representing 5.1% of its portfolio.
• Alphabet reported strong quarterly results, with $9.11 in adjusted earnings per share and $119.8 billion in revenue, exceeding analyst expectations; revenue increased 24.2% year over year.
• GOOG traded near $353.47, while analysts maintained a generally bullish outlook with a consensus “Buy” rating and an average price target of $410.09. Alphabet also announced a quarterly dividend of $0.22 per share.

Franklin Street Advisors Inc. NC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,323 shares of the information services provider's stock after selling 37,988 shares during the period. Alphabet comprises 5.1% of Franklin Street Advisors Inc. NC's portfolio, making the stock its 4th largest position. Franklin Street Advisors Inc. NC's holdings in Alphabet were worth $91,627,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Providence Wealth Advisors LLC raised its position in shares of Alphabet by 0.3% during the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider's stock valued at $3,094,000 after acquiring an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC boosted its holdings in Alphabet by 0.6% in the first quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider's stock worth $1,390,000 after purchasing an additional 29 shares during the period. Wisconsin Wealth Advisors LLC boosted its holdings in Alphabet by 1.3% in the second quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider's stock worth $785,000 after purchasing an additional 29 shares during the period. Ring Mountain Capital LLC increased its stake in Alphabet by 0.9% during the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock valued at $1,174,000 after purchasing an additional 30 shares during the last quarter. Finally, Cannon Financial Strategists Inc. increased its stake in Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock valued at $499,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG opened at $353.47 on Monday. The firm has a fifty day moving average of $353.94 and a 200-day moving average of $339.02. The company has a market cap of $4.32 trillion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a 1 year low of $197.46 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.87 by $6.24. The business had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's dividend payout ratio is 4.42%.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 82 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total value of $27,337.98. Following the transaction, the director owned 18,914 shares of the company's stock, valued at approximately $6,305,738.46. This represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 600,547 shares of company stock worth $16,255,540 over the last ninety days. 12.99% of the stock is owned by company insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Institutional buying remained supportive. State Street added an estimated 12.7 million shares of Alphabet’s Class A stock, while Mitsubishi UFJ, Lazard and Citizens Financial also increased their Alphabet positions in second-quarter 13F filings. State Street fund update
• Positive Sentiment: Alphabet’s AI and cloud businesses continue to show strong commercial momentum. Gemini reportedly reached 950 million monthly active users, Google Cloud revenue surged 82% in the second quarter, and its backlog reached $514 billion. A new multiyear, $100 million-plus Google Cloud agreement with AI lab Mirendil could add further demand for cloud infrastructure. Google AI and DeepMind report
• Neutral Sentiment: Alphabet is reorganizing its AI leadership. DeepMind chief Demis Hassabis is moving into a broader chief scientist role, while Chief Scientist Jeff Dean is departing after 27 years. The changes could improve long-term research focus but raise concerns about talent retention and execution. Google AI leadership report
• Negative Sentiment: Alphabet launched a roughly $25 billion, 10-part bond offering to finance expanded AI infrastructure spending. Strong demand—reportedly about $115 billion in orders—supports its credit profile, but investors remain concerned that rising capital expenditures and borrowing could reduce returns or increase financial risk. Alphabet bond offering report
• Negative Sentiment: Zacks Research downgraded Alphabet from “strong buy” to “hold,” adding to valuation and near-term sentiment pressure. Separately, several investment managers—including Mawer, First Eagle, Diamond Hill and SCS Capital—reported reductions in Alphabet holdings. Zacks Research
• Negative Sentiment: Alphabet’s planned $15 billion India data-center project faces opposition over water use and wildlife concerns, creating potential regulatory and development hurdles for its infrastructure expansion. Google India data center report

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Alphabet from $418.00 to $411.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Pivotal Research boosted their price objective on shares of Alphabet from $470.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Friday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Six analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $410.09.

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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