Positano Wealth Management Ltd Cuts Holdings in Alphabet Inc. $GOOGL

Key Points

• Positano Wealth Management reduced its Alphabet stake by 10.3% in the first quarter, selling 8,483 shares and retaining 73,646 shares valued at approximately $21.2 million. Alphabet remains the firm’s largest holding, representing 15.7% of its portfolio.
• Alphabet reported quarterly revenue of $119.8 billion and EPS of $9.11, exceeding analyst expectations. Recent developments also point to strong AI and Google Cloud momentum, including reported 82% Cloud revenue growth and approximately 950 million Gemini monthly users.
• Analysts maintain a broadly positive view, with a consensus “Buy” rating and average price target of $419.86, although one firm downgraded the stock to “Hold.” Shares recently traded near $354.30, while insiders sold roughly $16.3 million of stock over the past three months.

Positano Wealth Management Ltd cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,646 shares of the information services provider's stock after selling 8,483 shares during the quarter. Alphabet accounts for about 15.7% of Positano Wealth Management Ltd's portfolio, making the stock its biggest holding. Positano Wealth Management Ltd's holdings in Alphabet were worth $21,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Evansbrook LLC boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after buying an additional 28 shares during the last quarter. Wealthquest Corp raised its holdings in Alphabet by 16.1% during the first quarter. Wealthquest Corp now owns 9,827 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 1,361 shares in the last quarter. DBK Financial Counsel LLC boosted its position in Alphabet by 4.0% during the first quarter. DBK Financial Counsel LLC now owns 1,004 shares of the information services provider's stock valued at $289,000 after purchasing an additional 39 shares during the last quarter. Stillwater Private Wealth LLC bought a new position in Alphabet in the first quarter valued at approximately $296,000. Finally, DV Trading LLC increased its position in shares of Alphabet by 139,012.2% during the 1st quarter. DV Trading LLC now owns 466,026 shares of the information services provider's stock worth $134,010,000 after purchasing an additional 465,691 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOGL shares. Daiwa Securities Group raised their target price on shares of Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Alphabet in a report on Monday, June 22nd. Roth Capital reissued a "buy" rating and issued a $440.00 price objective (up from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. DA Davidson set a $350.00 price target on shares of Alphabet and gave the company a "neutral" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $419.86.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction on 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 completion of the sale, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 600,547 shares of company stock worth $16,255,540 over the last three months. Corporate insiders own 11.61% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $354.30 on Monday. 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 52 week low of $196.60 and a 52 week high of $408.61. The stock has a market capitalization of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 0.99 and a beta of 1.24. The stock's fifty day moving average is $355.68 and its 200 day moving average is $340.49.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Sell-side analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet's payout ratio is currently 4.42%.

Alphabet Company Profile

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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