One Day In July LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,160 shares of the information services provider's stock after purchasing an additional 1,787 shares during the period. Alphabet makes up approximately 0.2% of One Day In July LLC's investment portfolio, making the stock its 22nd biggest holding. One Day In July LLC's holdings in Alphabet were worth $3,274,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the last quarter. State Street Corp grew its position in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after acquiring an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC grew its position in Alphabet by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the last quarter. Norges Bank purchased a new stake in Alphabet in the fourth quarter worth $30,534,239,000. Finally, Bank of America Corp DE increased its stake in Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock worth $21,630,861,000 after purchasing an additional 3,218,852 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
- Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
- Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
- Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.
Alphabet Price Performance
GOOGL opened at $344.82 on Friday. Alphabet Inc. has a 12-month low of $201.30 and a 12-month high of $408.61. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $352.00 and its 200-day simple moving average is $341.37. The company has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.97 and a beta of 1.24.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, equities research analysts anticipate that Alphabet Inc. will post 20.51 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. 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 is Friday, September 4th. Alphabet's dividend payout ratio is presently 4.42%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on GOOGL shares. KeyCorp boosted their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Oppenheimer raised their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Wells Fargo & Company set a $411.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a 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 report on Tuesday, June 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $420.19.
Check Out Our Latest Research Report on GOOGL
Insider Buying and Selling at Alphabet
In other news, CAO Marsida Saraci sold 449 shares of the company'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 completion of the sale, the chief accounting officer owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 451,945 shares of company stock worth $12,382,714. Company insiders own 11.61% of the company's stock.
Alphabet Profile
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Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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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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