GRIMES & Co WEALTH MANAGEMENT LLC Buys 19,192 Shares of Alphabet Inc. $GOOG

Key Points

• GRIMES & Co increased its Alphabet stake by 18.6% in the third quarter, adding 19,192 shares to hold 122,644 shares worth about $41.8 million.
• Alphabet reported quarterly EPS of $2.12, below the $3.01 analyst consensus, while revenue rose 24.7% year over year to $127.58 billion, slightly under estimates.
• Analysts overall rated the stock a Moderate Buy, with a consensus price target of $413.38; their views varied, including a UBS “reduce” rating and an Evercore “outperform” rating.

GRIMES & Co WEALTH MANAGEMENT LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,644 shares of the information services provider's stock after acquiring an additional 19,192 shares during the quarter. Alphabet accounts for approximately 1.0% of GRIMES & Co WEALTH MANAGEMENT LLC's portfolio, making the stock its 20th largest holding. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Alphabet were worth $41,789,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Readystate Asset Management LP purchased a new position in shares of Alphabet in the 2nd quarter worth about $45,352,000. BlackRock Inc. raised its holdings in shares of Alphabet by 1.4% during the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider's stock valued at $130,704,718,000 after buying an additional 5,164,200 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider's stock valued at $67,458,980,000 after buying an additional 5,208,690 shares in the last quarter. Amundi raised its holdings in shares of Alphabet by 22.9% during the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider's stock valued at $6,288,654,000 after buying an additional 4,083,758 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Alphabet by 5.6% in the 2nd quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider's stock worth $6,117,460,000 after buying an additional 913,666 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 3.2%

GOOG opened at $287.30 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. The firm has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.84 and a beta of 1.21. The business has a 50 day simple moving average of $332.01 and a two-hundred day simple moving average of $337.44. Alphabet Inc. has a one year low of $271.41 and a one year high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business's revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.87 EPS. Analysts predict that Alphabet Inc. will post 19.80 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet's dividend payout ratio (DPR) is currently 4.59%.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 83 shares of the business's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director owned 19,076 shares in the company, valued at $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 247 shares of company stock worth $79,238. Insiders own 12.99% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI momentum: A venture-capital investor ranked Alphabet’s Gemini as the leading AI model, supporting optimism about the company’s ability to compete in AI and potentially attract usage and spending. Top VC: The Best AI Models Take “80% Plus” of Spend. And Alphabet’s Gemini Just Ranked No. 1
• Positive Sentiment: Long-term infrastructure growth: Google plans to invest $15 billion in Malaysia over two years to expand data-center capacity and support regional AI and cloud demand. The investment could help grow future revenue, though it adds to near-term capital needs. Google to Invest $15 Billion in Malaysia Over Two Years
• Neutral Sentiment: Election-driven rally: Reports attributed the rebound in Alphabet and other mega-cap technology shares to a broad post-election market rally. The result may have eased some near-term concern about data-center policy, although regulatory uncertainty remains. Why Alphabet Stock Popped on Wednesday
• Negative Sentiment: Heavy AI investment weighs on cash flow: Recent coverage highlighted declining free cash flow and rising infrastructure costs, tempering the growth story. Investors remain focused on whether cloud and AI returns will justify the spending. Alphabet's Free Cash Flow Is Declining Faster Than Analysts Expected
• Negative Sentiment: School Search policy backlash and litigation: Google’s plan tying school access to Search with AI settings drew criticism from politicians and prompted competing search services to target schools. Separately, a securities class action alleges investors were misled about Gemini 3.5 Pro’s progress; the claims are allegations, but add legal and reputational uncertainty. Google faces backlash for plan that would turn off Search for schools that restrict AI

Analysts Set New Price Targets

Several analysts have issued reports on GOOG shares. DZ Bank raised Alphabet from a "buy" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Evercore reissued an "outperform" rating and set a $435.00 price target on shares of Alphabet in a research note on Thursday, October 29th. UBS Group restated a "reduce" rating on shares of Alphabet in a report on Thursday, October 29th. Barclays restated an "overweight" rating on shares of Alphabet in a report on Thursday, October 29th. Finally, New Street Research cut their price objective on shares of Alphabet from $455.00 to $405.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Six research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $413.38.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google's principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - 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.