Okabena Investment Services Inc. Sells 15,927 Shares of Alphabet Inc. $GOOGL

Key Points

• Okabena Investment Services reduced its Alphabet stake by 34.4%, selling 15,927 shares in the second quarter and retaining 30,343 shares valued at approximately $10.8 million.
• Alphabet reported strong quarterly results, with earnings of $9.11 per share and revenue of $119.8 billion, surpassing analyst estimates of $2.89 and $117.07 billion, respectively.
• Wall Street remains broadly positive on GOOGL, with a consensus “Buy” rating and an average price target of $420.19; Alphabet also declared a quarterly dividend of $0.22 per share.

Okabena Investment Services Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,343 shares of the information services provider's stock after selling 15,927 shares during the period. Alphabet comprises approximately 1.9% of Okabena Investment Services Inc.'s portfolio, making the stock its 16th largest position. Okabena Investment Services Inc.'s holdings in Alphabet were worth $10,844,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its holdings in 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 purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in shares of Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank lifted its stake in shares of Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after acquiring an additional 3,120 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. New Street Research boosted their price target on shares of Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. DA Davidson set a $350.00 price objective on Alphabet and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. HSBC reissued a "buy" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. UBS Group cut their target price on Alphabet from $400.00 to $379.00 and set a "neutral" rating on the stock in a research report on Thursday, July 23rd. Finally, KeyCorp raised their target price on Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Five investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $420.19.

Alphabet Stock Up 1.8%

GOOGL stock opened at $338.50 on Friday. The stock's 50 day simple moving average is $346.75 and its 200 day simple moving average is $343.66. The company has a market cap of $4.14 trillion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a fifty-two week low of $235.84 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. 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 the consensus estimate of $117.07 billion. On average, research analysts expect that Alphabet Inc. will post 20.52 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google agreed to secure nuclear power for 22 years, reportedly locking in roughly half of a plant’s output through 2049. The deal could provide more predictable electricity costs and reliable power for energy-intensive AI data centers, strengthening Alphabet’s infrastructure position. Alphabet Jumps 2.5% After Locking In 22 Years of Nuclear Power
• Positive Sentiment: Google completed its acquisition of AI startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees are joining Google, potentially adding talent focused on AI agents and automation. Google just completed its $1.5 billion-plus deal for AI startup Mechanize
• Positive Sentiment: Investor commentary highlighted Alphabet’s strong AI and cloud outlook. Google Cloud is reportedly growing 82% year over year, while Alphabet’s Gemini technology is expanding into professional video-editing software, supporting the case that AI can broaden enterprise revenue beyond search advertising. Microsoft Vs. Alphabet: The Enterprise Fight No One Saw Coming
• Positive Sentiment: Recent coverage continues to present Alphabet as attractively valued relative to its growth prospects. The company’s latest reported quarter exceeded expectations, with earnings of $9.11 per share versus a $2.89 consensus estimate and revenue of $119.8 billion versus $117.07 billion expected.
• Neutral Sentiment: Alphabet’s inclusion among major AI and cloud beneficiaries, along with Berkshire Hathaway’s reported position in the company, may support investor interest but does not represent a new operating catalyst. Berkshire Hathaway Has a New Top Holding, and It Dominates Its Market
• Negative Sentiment: A law firm said it is continuing an investigation into possible federal securities-law violations involving Alphabet. The announcement does not establish wrongdoing, but it introduces a potential legal and reputational overhang. Securities Fraud Investigation Into Alphabet Continues
• Negative Sentiment: Alphabet faces scrutiny over the scale of AI infrastructure spending, potential financing pressure across the AI industry, and electricity-demand concerns related to new data centers. Finland opposition parties have warned that Google’s expansion could strain local power supplies and raise energy costs. Finland Risks Strained Power Supply After Google AI Deal

Insider Buying and Selling

In related news, Director Frances Arnold sold 82 shares of the business's 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 transaction, the director directly owned 18,995 shares in the company, valued at approximately $6,414,801.45. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,925 shares of company stock worth $12,371,544 in the last quarter. Insiders own 11.61% of the company's stock.

Alphabet Company Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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