Neville Rodie & Shaw Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,074 shares of the information services provider's stock after selling 4,260 shares during the period. Alphabet accounts for 3.0% of Neville Rodie & Shaw Inc.'s portfolio, making the stock its 6th largest position. Neville Rodie & Shaw Inc.'s holdings in Alphabet were worth $45,606,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in GOOG. Hobart Private Capital LLC lifted its position in shares of Alphabet by 2.9% during the second quarter. Hobart Private Capital LLC now owns 3,085 shares of the information services provider's stock valued at $1,090,000 after buying an additional 86 shares during the last quarter. Boltwood Capital Management grew its position in shares of Alphabet by 7.0% in the 2nd quarter. Boltwood Capital Management now owns 3,145 shares of the information services provider's stock worth $1,111,000 after buying an additional 205 shares during the last quarter. Trilogy Capital Inc. grew its position in shares of Alphabet by 4.2% in the 2nd quarter. Trilogy Capital Inc. now owns 3,942 shares of the information services provider's stock worth $1,393,000 after buying an additional 159 shares during the last quarter. Kozak & Associates Inc. raised its stake in shares of Alphabet by 298.6% during the 2nd quarter. Kozak & Associates Inc. now owns 25,357 shares of the information services provider's stock worth $9,075,000 after acquiring an additional 18,995 shares in the last quarter. Finally, Box Hill Private Wealth LLC raised its stake in shares of Alphabet by 5.3% during the 2nd quarter. Box Hill Private Wealth LLC now owns 7,129 shares of the information services provider's stock worth $2,519,000 after acquiring an additional 361 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of Alphabet stock opened at $372.47 on Tuesday. The firm has a market cap of $4.56 trillion, a PE ratio of 18.71, a P/E/G ratio of 1.00 and a beta of 1.23. Alphabet Inc. has a twelve month low of $190.92 and a twelve month high of $404.47. 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 has a 50-day moving average price of $355.68 and a 200 day moving average price of $338.20.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. 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 firm had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $116.53 billion. During the same quarter last year, the company earned $2.31 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio is 4.42%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GOOG. DA Davidson lowered their price objective on Alphabet from $375.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Stifel Nicolaus set a $420.00 price target on Alphabet in a report on Wednesday, May 20th. JPMorgan Chase & Co. dropped their price target on Alphabet from $460.00 to $420.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. BMO Capital Markets increased their price objective on shares of Alphabet from $455.00 to $465.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $410.09.
Check Out Our Latest Report on GOOG
Insider Buying and Selling
In other Alphabet news, Director Frances Arnold sold 82 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total value of $27,337.98. Following the completion of the sale, the director directly owned 18,914 shares in the company, valued at $6,305,738.46. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 600,547 shares of company stock worth $16,255,540 in the last three months. Company insiders own 12.99% of the company's stock.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Strong earnings and AI spending outlook: Alphabet’s latest results showed revenue growth of 24.2% year over year and substantially exceeded analyst expectations. Reports highlighted Google Cloud revenue rising 82% to $24.8 billion, a 35.6% operating margin and a record $514 billion backlog, supporting the argument that AI infrastructure spending is translating into demand. Alphabet's AI Spending Finally Makes Sense
- Positive Sentiment: Growing confidence in AI leadership: Google DeepMind commentary suggested the industry may be entering a new stage of AI development, while broader hyperscaler earnings renewed investor appetite for AI-related stocks, including Alphabet. Analysts and growth-stock commentary remain broadly constructive, with multiple buy or overweight ratings and a reported median price target above current trading levels. Google DeepMind Says the Next Stage of AI May Already Be Starting
- Positive Sentiment: Waymo provides an additional growth narrative: An analysis cited by media reports found Waymo robotaxis crashed 68% less often than human drivers. Improved safety could support the long-term commercial expansion and valuation of Alphabet’s autonomous-driving business. Waymo robotaxis found to crash 68% less often than human drivers
- Positive Sentiment: Institutional support: Massachusetts Financial Services reportedly increased its Alphabet position by approximately 23%, adding more than five million shares. That purchase reinforced the perception that professional investors view Alphabet’s AI and cloud prospects favorably. Massachusetts Financial Services fund update
- Neutral Sentiment: Regulatory discussions ahead: Google representatives are expected to meet with the White House, Anthropic and OpenAI to discuss a proposed AI oversight framework. The meeting could provide clarity but also highlights potential future compliance costs and restrictions. AI giants to meet with White House
- Negative Sentiment: Cloud competition remains a risk: Microsoft continues to lead Alphabet in cloud market share, potentially limiting Google Cloud’s ability to convert its strong backlog into sustained market-share gains. Microsoft Races Ahead of Google in the Cloud
- Negative Sentiment: AI product-control concerns: Google reportedly rolled back an AI feature in Google Earth after users generated fake satellite imagery, raising questions about product safeguards, reputational risk and the pace of AI deployment. For a Day, Google Made It Easy to Spoof Satellite Imagery
Alphabet Profile
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Free Report)
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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