Kintra Wealth LLC Grows Holdings in Alphabet Inc. $GOOGL

Key Points

• Kintra Wealth increased its Alphabet stake by 17.6% in the second quarter, purchasing 5,437 additional shares and bringing its holdings to 36,384 shares valued at approximately $12.6 million.
• Alphabet reported strong quarterly results, with $119.8 billion in revenue and $9.11 in EPS, while beginning to recognize revenue from internally developed AI chips and expanding Waymo internationally.
• Analysts maintain a broadly positive outlook, with an average “Buy” rating and a $422.16 price target; however, higher interest rates, substantial AI infrastructure spending and new ad-tech restrictions remain risks.

Kintra Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,384 shares of the information services provider's stock after buying an additional 5,437 shares during the period. Kintra Wealth LLC's holdings in Alphabet were worth $12,602,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strategic Wealth Advisors LLC raised its stake in Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after purchasing an additional 27 shares during the period. Rockbridge Investment Management LCC boosted its position in shares of Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after buying an additional 27 shares during the period. Ruggaard & Associates LLC grew its stake in shares of Alphabet by 0.9% in the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock valued at $840,000 after buying an additional 27 shares in the last quarter. Cadia Private Client LLC grew its stake in shares of Alphabet by 1.1% in the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after buying an additional 28 shares in the last quarter. Finally, Evansbrook LLC raised its holdings in shares of Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock valued at $2,738,000 after buying an additional 28 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. HSBC reissued a "buy" rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Citizens Jmp reissued a "market outperform" rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday, July 22nd. Wells Fargo & Company set a $411.00 price objective on Alphabet and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Tigress Financial reiterated a "strong-buy" rating and set a $485.00 price objective (up from $415.00) on shares of Alphabet in a research note on Thursday. Five research analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $422.16.

Alphabet Price Performance

Shares of GOOGL opened at $349.54 on Friday. The stock's fifty day moving average is $345.20 and its 200-day moving average is $344.91. The firm has a market capitalization of $4.27 trillion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22. Alphabet Inc. has a one year low of $235.84 and a one year high of $408.61. 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 (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Equities analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 7th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the completion of the sale, the director directly owned 18,995 shares in the company, valued at $6,414,801.45. The trade was a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 450,875 shares of company stock valued at $11,984,482. Insiders own 11.61% of the company's stock.

Alphabet Company Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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