Magellan Asset Management Ltd Sells 79,150 Shares of Alphabet Inc. $GOOG

Key Points

• Magellan Asset Management cut its Alphabet stake by 19.3%, selling 79,150 shares during the second quarter and retaining 330,458 shares valued at approximately $116.8 million.
• Analysts remain broadly bullish on GOOG, with an average “Buy” rating and a consensus price target of $415.55; six analysts rate the stock a Strong Buy and 30 rate it a Buy.
• Alphabet reported strong quarterly results, including $119.8 billion in revenue, 24.2% year-over-year growth and $9.11 in EPS, while investors continue to monitor regulatory pressures and the substantial cost of its AI investments.

Magellan Asset Management Ltd reduced its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 330,458 shares of the information services provider's stock after selling 79,150 shares during the quarter. Alphabet comprises 2.6% of Magellan Asset Management Ltd's investment portfolio, making the stock its 15th largest position. Magellan Asset Management Ltd's holdings in Alphabet were worth $116,761,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GOOG. Nvest Wealth Strategies Inc. bought a new stake in Alphabet in the fourth quarter valued at $38,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the 4th quarter worth $38,000. Imprint Wealth LLC bought a new position in Alphabet in the 3rd quarter worth $31,000. Bard Associates Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth about $41,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $45,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Rosenblatt Securities assumed coverage on shares of Alphabet in a research report on Thursday, August 20th. They set a "buy" rating on the stock. Freedom Capital upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $450.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. Stifel Nicolaus set a $420.00 target price on Alphabet in a report on Wednesday, May 20th. Finally, TD Cowen reissued a "buy" rating and issued a $475.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Buy" and an average price target of $415.55.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI products are broadening Alphabet’s growth story. Google is expanding AI Mode with flight-price tracking, hotel-booking assistance and loyalty-point comparisons, while Gemini’s new “Personal Intelligence” features are making AI assistance more accessible to mainstream users. A potential Gemini 3.8 Flash release and the hiring of former OpenAI executive Barret Zoph further reinforce Alphabet’s competitive AI position. Google AI Mode article
• Positive Sentiment: Cloud momentum and AI infrastructure remain key bullish catalysts. Analysts point to surging Google Cloud revenue, AI adoption and a reported $514 billion backlog as evidence that Alphabet is gaining ground on Microsoft and Amazon. Wolfe Research named Alphabet a top 2027 pick and set a $460 target, citing accelerating cloud growth. Alphabet’s expanded custom-chip relationship with Marvell could also strengthen its TPU ecosystem and reduce reliance on outside suppliers over time. Google Cloud growth article
• Neutral Sentiment: Technical and valuation commentary is broadly supportive but not a new fundamental catalyst. Analysts continue to view GOOG favorably, and technical analysis identifies support near a key moving-average level. However, the stock remains below its 50-day average, suggesting investors are still weighing growth against execution risks. Alphabet technical analysis
• Negative Sentiment: Regulatory and litigation overhangs persist. Google changed its European spam-policy enforcement to avoid a potential antitrust fine, a concession that may reduce near-term financial risk but could constrain search operations. Alphabet also agreed to a roughly $353 million UK Play Store settlement, while the FTC is reportedly considering a lawsuit over YouTube account suspensions. Multiple law firms separately announced securities-fraud investigations, though these notices do not establish wrongdoing. Google EU spam policy article
• Negative Sentiment: Investors remain alert to the cost of the AI race. Reports that major technology companies have approximately $3 trillion in off-balance-sheet AI commitments, alongside Alphabet’s heavy capital spending and negative free cash flow concerns, could pressure future returns if AI monetization lags investment. Big Tech AI spending article

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares of the company's stock, valued at $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 451,843 shares of company stock worth $12,343,852 in the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Up 1.5%

NASDAQ:GOOG opened at $342.88 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The firm's 50-day moving average price is $347.79 and its 200-day moving average price is $339.97. The company has a market capitalization of $4.19 trillion, a PE ratio of 17.22, a P/E/G ratio of 0.96 and a beta of 1.23. Alphabet Inc. has a 1-year low of $206.96 and a 1-year high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $116.53 billion. During the same period last year, the company posted $2.31 EPS. Alphabet's revenue was up 24.2% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 20.5 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%.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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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.

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