Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Alphabet Inc. $GOOG

Key Points

• Mitsubishi UFJ Asset Management increased its Alphabet stake by 3.3% in the second quarter, adding 380,818 shares to own 11.76 million shares worth approximately $4.16 billion. Alphabet now represents about 2.3% of the fund’s portfolio.
• Alphabet reported strong quarterly results, with revenue up 24.2% year over year to $119.8 billion and EPS of $9.11, exceeding analyst expectations. Analysts maintain a consensus “Buy” rating with an average price target of $415.55.
• The company declared a quarterly dividend of $0.22 per share, while insiders sold roughly 451,945 shares worth $12.4 million over the past three months.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,763,766 shares of the information services provider's stock after acquiring an additional 380,818 shares during the quarter. Alphabet comprises about 2.3% of Mitsubishi UFJ Asset Management Co. Ltd.'s investment portfolio, making the stock its 7th biggest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Alphabet worth $4,156,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Providence Wealth Advisors LLC boosted its holdings in Alphabet by 0.3% in the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 29 shares during the last quarter. One Charles Private Wealth Services LLC raised its stake in Alphabet by 0.6% during the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider's stock valued at $1,390,000 after buying an additional 29 shares during the last quarter. Wisconsin Wealth Advisors LLC raised its stake in Alphabet by 1.3% during the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider's stock valued at $785,000 after buying an additional 29 shares during the last quarter. Ring Mountain Capital LLC lifted its holdings in shares of Alphabet by 0.9% during the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock valued at $1,174,000 after buying an additional 30 shares during the period. Finally, Cannon Financial Strategists Inc. lifted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock valued at $499,000 after buying an additional 30 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.0%

Shares of Alphabet stock opened at $341.75 on Friday. Alphabet Inc. has a 1-year low of $202.13 and a 1-year high of $404.47. The company's fifty day simple moving average is $350.34 and its 200-day simple moving average is $339.73. 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 stock has a market capitalization of $4.18 trillion, a PE ratio of 17.16, a P/E/G ratio of 0.96 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. During the same period in the prior year, the business posted $2.31 EPS. Alphabet's revenue was up 24.2% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction that occurred 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 approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 451,945 shares of company stock worth $12,382,714. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Alphabet from $415.00 to $400.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. DA Davidson lowered their target price on Alphabet from $375.00 to $350.00 and set a "neutral" rating on the stock in a report on Thursday, July 23rd. TD Cowen reissued a "buy" rating and issued a $475.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Piper Sandler reissued an "overweight" rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Wolfe Research set a $460.00 price target on Alphabet in a research note on Thursday, July 23rd. Six research 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 company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Buy" and an average target price of $415.55.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI infrastructure expansion: Alphabet’s expanded custom-silicon relationship with Marvell covers components connected to Google’s TPU ecosystem, including inference accelerators, networking, storage, and memory products. The agreement gives Alphabet more supply-chain flexibility and supports continued AI capacity growth, although it may increase dependence on multiple chip partners. Jensen Huang Thinks This Chip Stock Could Hit $1 Trillion
• Positive Sentiment: Waymo growth: Alphabet’s autonomous-driving unit received approval to operate thousands of robotaxis in Nevada and has expanded its lower-cost next-generation vehicles to riders in Los Angeles, Phoenix, and San Francisco. Waymo also introduced a custom AI chip designed to reduce reliance on Nvidia and AMD, potentially improving long-term economics. Robotaxi Permits in Nevada
• Positive Sentiment: Investor and analyst support: Berkshire Hathaway significantly increased its Alphabet position, reinforcing the view that the company fits a value-oriented investment strategy. Rosenblatt initiated coverage with a “Buy” rating, while analysts continue to point to resilient Search, fast-growing Cloud, and strong earnings momentum. Berkshire’s Alphabet Investment
• Neutral Sentiment: DeepMind leadership transition: Nobel Prize-winning co-founder Demis Hassabis is moving from day-to-day management to chairman and chief scientist roles, while Koray Kavukcuoglu will oversee operations. The change could improve Alphabet-wide AI coordination, but investors may monitor execution and retention risks. DeepMind Leadership Change
• Negative Sentiment: Firebase enforcement risk: Indian authorities directed Google to remove hundreds of Firebase accounts allegedly used in bank impersonation scams. The action could increase compliance costs and renew concerns about misuse of Alphabet’s platforms. India Orders Removal of Firebase Accounts

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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