Magellan Asset Management Ltd Has $16.71 Million Position in Alphabet Inc. $GOOGL

Magellan Asset Management Ltd cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 93.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,773 shares of the information services provider's stock after selling 629,644 shares during the quarter. Magellan Asset Management Ltd's holdings in Alphabet were worth $16,715,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC increased its position in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after buying an additional 48,805 shares during the last quarter. Finally, United Bank raised its stake in Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after buying an additional 3,120 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director owned 1,481 shares of the company's stock, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,925 shares of company stock valued at $12,371,544 in the last quarter. 11.61% of the stock is owned by company insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google expanded its partnership with Cathay Pacific to test AI designed to reduce aircraft contrail warming. Early real-world testing reportedly cut contrail-related warming by 40%, highlighting potential environmental applications for Google’s AI technology. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails
• Positive Sentiment: Pixxel, an Indian satellite startup backed by Google, raised $100 million in new funding. The deal strengthens Alphabet’s exposure to Earth observation, space software and sovereign space systems, although the financial effect on Alphabet itself is likely limited. Google-backed Indian space startup raises $100 million in latest funding round
• Positive Sentiment: Several investment articles argue Alphabet is underappreciated within the “Magnificent Seven,” citing its search and cloud cash flows, AI opportunities and a valuation viewed as reasonable relative to growth. Berkshire Hathaway’s continued Alphabet purchases also provide a prominent vote of confidence.
• Neutral Sentiment: Warren Buffett reportedly initiated Berkshire’s Alphabet investment, while Greg Abel is expected to maintain significant influence over the portfolio. The development is sentiment-positive but does not change Alphabet’s operating outlook.
• Neutral Sentiment: Alphabet’s partnerships with AI companies, including CrowdStrike, reinforce its role in enterprise AI and cybersecurity, but the commercial impact remains uncertain. CrowdStrike unveiled a broad AI security platform push
• Negative Sentiment: Bill Ackman’s fund fully exited Alphabet in the second quarter and bought Netflix instead, citing concern that aggressive AI infrastructure spending could pressure profitability and increase volatility.
• Negative Sentiment: Commentary warns that rising AI capital expenditures are reducing returns on capital and could challenge Alphabet’s traditionally strong financial profile.
• Negative Sentiment: A law firm announced a securities-fraud investigation seeking Alphabet investors, but the announcement provides no finding of wrongdoing and appears primarily to solicit shareholders.

Alphabet Stock Performance

Alphabet stock opened at $338.46 on Tuesday. Alphabet Inc. has a 12-month low of $231.90 and a 12-month high of $408.61. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The business's 50-day moving average price is $348.72 and its two-hundred day moving average price is $343.12. The stock has a market cap of $4.14 trillion, a PE ratio of 17.00, a P/E/G ratio of 0.98 and a beta of 1.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. As a group, analysts expect that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Analyst Ratings Changes

Several research analysts have recently commented on GOOGL shares. UBS Group reduced their target price on Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. Freedom Capital upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Wells Fargo & Company set a $411.00 target price on shares of Alphabet and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $410.00 price objective on shares of Alphabet in a research note on Thursday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, forty-five 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.

About Alphabet

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.

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