GRIMES & Co WEALTH MANAGEMENT LLC Sells 2,250 Shares of Alphabet Inc. $GOOGL

Key Points

• GRIMES & Co. reduced its Alphabet stake by 2,250 shares, or 1.7%, in the third quarter. It still held 130,571 shares valued at about $44.9 million, making Alphabet its 15th-largest portfolio holding.
• Analyst views remain broadly positive: MarketBeat reports a consensus Buy rating and an average price target of $412.51, despite some firms recently lowering targets or ratings.
• Alphabet’s latest quarter fell short of expectations, reporting EPS of $2.12 versus a $3.02 consensus estimate and revenue of $127.58 billion versus $127.96 billion expected.

GRIMES & Co WEALTH MANAGEMENT LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,571 shares of the information services provider's stock after selling 2,250 shares during the period. Alphabet makes up 1.1% of GRIMES & Co WEALTH MANAGEMENT LLC's portfolio, making the stock its 15th largest holding. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Alphabet were worth $44,927,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. EMC Capital Management purchased a new position in shares of Alphabet during the second quarter valued at approximately $35,000. Core Capital Management & Research inc. bought a new position in shares of Alphabet during the second quarter valued at approximately $41,000. Intelligent Financial Strategies purchased a new stake in shares of Alphabet in the third quarter worth approximately $41,000. Premier Financial Group purchased a new stake in shares of Alphabet in the second quarter worth approximately $45,000. Finally, Graney & King LLC raised its holdings in shares of Alphabet by 38.5% in the second quarter. Graney & King LLC now owns 180 shares of the information services provider's stock worth $64,000 after buying an additional 50 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Royal Bank Of Canada decreased their price target on Alphabet from $425.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, October 29th. Citizens Jmp lowered Alphabet from a "market outperform" rating to a "hold" rating in a research note on Thursday, October 29th. BMO Capital Markets reiterated an "outperform" rating and issued a $480.00 target price (up from $465.00) on shares of Alphabet in a research note on Tuesday, October 20th. Yorkville Ives initiated coverage on Alphabet in a research report on Monday, October 5th. They set an "outperform" rating and a $400.00 target price for the company. Finally, Cantor Fitzgerald lowered their target price on shares of Alphabet from $420.00 to $350.00 and set an "overweight" rating for the company in a research note on Thursday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Buy" and an average target price of $412.51.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Anthropic investment and cloud exposure: Google plans to invest $10 billion in Anthropic at its IPO, adding to Alphabet’s existing stake. Anthropic also has sizable Google Cloud commitments, potentially supporting cloud revenue through computing and marketplace services. Article: Anthropic's Trillion-Dollar IPO Could Give Cloud Giants a Double Win
• Positive Sentiment: AI chips and cloud growth: Google introduced two specialized TPU variants for AI workloads, a move that could reduce reliance on outside chips and broaden Google Cloud’s appeal. Separate coverage highlighted strong Cloud revenue and improved operating margins. Article: Google broadens its AI hardware portfolio Article: Sundar Pichai Just Delivered Stunning News About Google Cloud
• Neutral Sentiment: Pixel Tag launch: Google began selling its $30 Android-compatible item tracker, expanding its consumer hardware lineup, though the immediate financial impact is unclear. Article: Pixel Tag is now available
• Negative Sentiment: AI spending and monetization concerns: Coverage framed accelerating AI investment as a risk if returns do not justify the cost. JPMorgan also removed Alphabet from its analyst focus list, citing slower AI-search monetization and substantial infrastructure spending, while retaining an Overweight rating. Article: Alphabet investors face a new reality as Google's AI spending accelerates Article: JPMorgan Just Removed Alphabet From Its Analyst Focus List
• Negative Sentiment: Securities lawsuit: Multiple law firms publicized a pending class action alleging misrepresentations about the Gemini 3.5 Pro launch timeline. Investors have until around Dec. 1 to seek lead-plaintiff status; the allegations remain claims, not findings of liability. Article: Investors Have Opportunity to Lead Alphabet Securities Fraud Lawsuit

Alphabet Stock Performance

Alphabet stock opened at $287.38 on Wednesday. The company has a 50 day moving average price of $330.72 and a 200-day moving average price of $338.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a fifty-two week low of $270.70 and a fifty-two week high of $408.61. The company has a market capitalization of $3.53 trillion, a PE ratio of 15.00, a P/E/G ratio of 0.87 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.96 billion. As a group, equities analysts forecast that Alphabet Inc. will post 19.81 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is presently 4.59%.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 247 shares of company stock valued at $79,238 in the last ninety days. Insiders own 11.61% of the company's stock.

Alphabet Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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