Menlo Advisors LLC Sells 3,668 Shares of Alphabet Inc. $GOOG

Key Points

• Menlo Advisors reduced its Alphabet position by 5%, selling 3,668 shares and retaining 70,325 shares valued at approximately $24.85 million. Institutional investors own 27.26% of Alphabet, while insiders sold 451,925 shares worth $12.37 million during the latest quarter.
• Analysts maintain a broadly positive outlook, with Alphabet carrying a consensus “Buy” rating and an average price target of $415.55. The company recently surpassed earnings and revenue expectations, reporting $9.11 in EPS and $119.80 billion in quarterly revenue, up 24.2% year over year.
• Alphabet’s AI expansion—including the Mechanize acquisition, Gemini enterprise partnerships and planned Finnish infrastructure investment—could support future growth, but investors remain concerned about roughly $200 billion in AI capital spending, rising data-center costs, competition and potential litigation risk.

Menlo Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,325 shares of the information services provider's stock after selling 3,668 shares during the quarter. Alphabet accounts for about 11.1% of Menlo Advisors LLC's holdings, making the stock its 2nd biggest position. Menlo Advisors LLC's holdings in Alphabet were worth $24,847,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Castlekeep Investment Advisors LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $29,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet during the fourth quarter worth about $38,000. Imprint Wealth LLC purchased a new stake in Alphabet during the third quarter worth about $31,000. Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter worth about $41,000. Finally, Timbuktu Capital Management LLC acquired a new position in Alphabet during the second quarter worth about $46,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling

In other news, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction dated Friday, August 28th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOG shares. Piper Sandler reiterated an "overweight" rating and set a $395.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lowered their price target on Alphabet from $460.00 to $420.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Wedbush started coverage on Alphabet in a research note on Thursday, July 16th. They issued an "outperform" rating and a $445.00 price objective for the company. Barclays reaffirmed an "overweight" rating and set a $425.00 price objective (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, Canaccord Genuity Group set a $450.00 target price on Alphabet in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $415.55.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Alphabet Trading Up 1.5%

Shares of Alphabet stock opened at $335.45 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. Alphabet Inc. has a 1 year low of $236.68 and a 1 year high of $404.47. The company has a market capitalization of $4.10 trillion, a P/E ratio of 16.85, a P/E/G ratio of 0.97 and a beta of 1.21. The business has a 50 day moving average price of $344.76 and a 200 day moving average price of $341.64.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $6.24. The firm had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.Alphabet's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 20.52 EPS 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 paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 4.42%.

About Alphabet

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google's core internet businesses from a collection of other ventures. Google remains Alphabet's largest business and serves users, advertisers, businesses and developers worldwide.

Google's principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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