Gateway Wealth Partners LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 45.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,451 shares of the information services provider's stock after selling 31,576 shares during the period. Alphabet accounts for 0.8% of Gateway Wealth Partners LLC's investment portfolio, making the stock its 22nd biggest position. Gateway Wealth Partners LLC's holdings in Alphabet were worth $13,384,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. RHL Group LLC boosted its holdings in shares of Alphabet by 51.0% during the second quarter. RHL Group LLC now owns 545 shares of the information services provider's stock worth $195,000 after purchasing an additional 184 shares during the period. Choreo LLC grew its position in shares of Alphabet by 0.4% in the 2nd quarter. Choreo LLC now owns 242,977 shares of the information services provider's stock worth $86,832,000 after buying an additional 861 shares during the last quarter. Symphony Financial Ltd. Co. increased its stake in shares of Alphabet by 5.6% during the second quarter. Symphony Financial Ltd. Co. now owns 46,676 shares of the information services provider's stock valued at $16,548,000 after buying an additional 2,467 shares during the period. LightSquare Wealth Management LLC increased its stake in shares of Alphabet by 12.3% during the second quarter. LightSquare Wealth Management LLC now owns 2,933 shares of the information services provider's stock valued at $1,048,000 after buying an additional 321 shares during the period. Finally, University of Texas Texas AM Investment Management Co. raised its holdings in shares of Alphabet by 11.3% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 93,726 shares of the information services provider's stock valued at $33,495,000 after acquiring an additional 9,497 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Trading Up 1.2%
Shares of NASDAQ GOOGL opened at $344.82 on Friday. Alphabet Inc. has a 1 year low of $201.30 and a 1 year high of $408.61. The stock has a market cap of $4.22 trillion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The firm has a 50-day moving average of $352.00 and a 200 day moving average of $341.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. As a group, sell-side 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 paid 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 Upgrades and Downgrades
Several research firms recently weighed in on GOOGL. Royal Bank Of Canada reiterated an "outperform" rating and issued a $425.00 price target on shares of Alphabet in a report on Thursday, July 23rd. BNP Paribas Exane upped their price objective on shares of Alphabet from $390.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Alphabet in a research report on Monday, June 22nd. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Finally, China Renaissance raised their price objective on shares of Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Alphabet presently has an average rating of "Buy" and a consensus price target of $420.19.
Get Our Latest Analysis on Alphabet
Insider Buying and Selling
In other news, CAO Marsida Saraci sold 449 shares of the stock in a transaction 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 sale, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 451,945 shares of company stock worth $12,382,714 in the last 90 days. Corporate insiders own 11.61% of the company's stock.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
- Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
- Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
- Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.
Alphabet Profile
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Free Report)
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.
Further Reading
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