Power Wealth Management LLC Sells 2,043 Shares of Alphabet Inc. $GOOGL

Key Points

• Power Wealth Management reduced its Alphabet stake by 12.5%, selling 2,043 shares and retaining 14,329 shares valued at approximately $5.1 million. Institutional investors collectively own 40.03% of Alphabet.
• Wall Street remains bullish, with a consensus “Buy” rating and an average price target of $420.19, above Alphabet’s reported opening price of $344.98.
• Alphabet recently exceeded earnings expectations, reporting $9.11 in quarterly EPS and $119.8 billion in revenue, while declaring a quarterly dividend of $0.22 per share.

Power Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,329 shares of the information services provider's stock after selling 2,043 shares during the period. Alphabet makes up 1.8% of Power Wealth Management LLC's portfolio, making the stock its 12th biggest position. Power Wealth Management LLC's holdings in Alphabet were worth $5,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Alphabet by 0.5% during the fourth quarter. Invesco Ltd. now owns 45,394,474 shares of the information services provider's stock worth $14,208,470,000 after acquiring an additional 208,362 shares during the period. Fisher Asset Management LLC increased its holdings in Alphabet by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 38,106,033 shares of the information services provider's stock worth $11,927,189,000 after purchasing an additional 583,078 shares in the last quarter. Amundi increased its holdings in Alphabet by 12.7% during the 1st quarter. Amundi now owns 31,745,979 shares of the information services provider's stock worth $9,128,850,000 after purchasing an additional 3,574,810 shares in the last quarter. Nuveen LLC raised its stake in shares of Alphabet by 1.7% in the 4th quarter. Nuveen LLC now owns 29,166,806 shares of the information services provider's stock valued at $9,129,210,000 after purchasing an additional 478,848 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Alphabet by 14.3% in the 4th quarter. Jennison Associates LLC now owns 21,851,279 shares of the information services provider's stock valued at $6,839,450,000 after purchasing an additional 2,729,364 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. DA Davidson set a $350.00 price target on Alphabet and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Piper Sandler reiterated an "overweight" rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Phillip Securities raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $410.00 target price on shares of Alphabet in a research report on Thursday, September 3rd. Finally, Roth Capital reiterated a "buy" rating and issued a $440.00 price target (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Buy" and an average price target of $420.19.

Alphabet Stock Performance

GOOGL opened at $344.98 on Wednesday. Alphabet Inc. has a 1 year low of $235.84 and a 1 year high of $408.61. The company has a market capitalization of $4.22 trillion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22. The business has a fifty day simple moving average of $345.97 and a 200 day simple moving average of $344.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. Research analysts expect that Alphabet Inc. will post 20.52 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Alphabet's payout ratio is 4.42%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo plans to launch a fully autonomous commercial taxi service in Tokyo in 2027 with Japanese partners, following its expansion into Las Vegas. The moves provide a potential long-term growth avenue beyond advertising and cloud computing. Waymo, Japanese partners target driverless taxi service in Tokyo in 2027
• Positive Sentiment: Analysts and market commentary continue to highlight Alphabet’s relatively inexpensive valuation, rapidly expanding Google Cloud backlog and potential for approximately 50% upside if cloud growth and AI monetization continue. A nuclear-power agreement with Fortum could also support the electricity needs of its energy-intensive data centers. Alphabet Has 50% Upside and the Cheapest Multiple of the Big Six
• Neutral Sentiment: OpenAI, Google DeepMind and Anthropic are discussing cooperation on AI safety and standards. Collaboration may reduce catastrophic-risk concerns and support clearer regulation, but it also underscores growing political scrutiny of frontier AI. OpenAI, Google, Anthropic discussing collaboration on AI safety issues
• Negative Sentiment: Proposed Senate legislation could give federal regulators authority to block or impose conditions on powerful AI models. Investors are concerned that such restrictions could delay product launches and affect the value of Alphabet’s large Cloud backlog. Senate’s Proposed AI Kill Switch Could Give Washington Veto Power Over Google’s Frontier Models
• Negative Sentiment: Investors are questioning the impact of heavy AI infrastructure spending on free cash flow. Reports that Alphabet has paused buybacks while its share count rises could reduce near-term shareholder returns and increase pressure on earnings conversion. What Happens To Alphabet Stock If Free Cash Flow Stays Negative?
• Negative Sentiment: Higher crude prices, elevated Treasury yields, expectations for another Federal Reserve rate increase and renewed uncertainty about AI demand pressured technology stocks broadly. Separate commentary also points to search-traffic headwinds and stronger digital-advertising growth at Reddit. Why is Alphabet stock falling today?

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 82 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $337.71, for a total value of $27,692.22. Following the sale, the director directly owned 18,995 shares of the company's stock, valued at $6,414,801.45. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 450,875 shares of company stock valued at $11,984,482. Company insiders own 11.61% of the company's stock.

About Alphabet

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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