Qsemble Capital Management LP lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 51.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,149 shares of the information services provider's stock after selling 2,313 shares during the period. Qsemble Capital Management LP's holdings in Alphabet were worth $768,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the business. Strategic Wealth Advisors LLC grew its position in Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after buying an additional 27 shares in the last quarter. Rockbridge Investment Management LCC increased its stake in Alphabet by 0.5% during the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after acquiring an additional 27 shares during the period. Ruggaard & Associates LLC increased its stake in Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock worth $840,000 after acquiring an additional 27 shares during the period. Cadia Private Client LLC raised its holdings in Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after acquiring an additional 28 shares in the last quarter. Finally, Evansbrook LLC raised its holdings in Alphabet by 0.3% in the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock valued at $2,738,000 after acquiring an additional 28 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 8,998 shares of the business'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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The SEC filing for this sale provides additional information. Insiders sold a total of 451,945 shares of company stock worth $12,382,714 in the last ninety days. Insiders own 11.61% of the company's stock.
Alphabet Trading Up 1.2%
Shares of GOOGL opened at $344.82 on Friday. Alphabet Inc. has a 52-week low of $201.30 and a 52-week high of $408.61. The business's fifty day moving average is $352.00 and its 200-day moving average is $341.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The firm has a market cap 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 posted its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. Equities analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.
Alphabet Dividend Announcement
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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's payout ratio is currently 4.42%.
Analyst Ratings Changes
Several analysts have recently issued reports on GOOGL shares. JPMorgan Chase & Co. reissued a "buy" rating on shares of Alphabet in a report on Monday, May 4th. KeyCorp boosted their price target on Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $425.00 price objective on shares of Alphabet in a research report on Thursday, July 23rd. Roth Capital reiterated a "buy" rating and set a $440.00 price objective (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, Oppenheimer raised their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $420.19.
Check Out Our Latest Research Report on GOOGL
Key Headlines Impacting Alphabet
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.
About Alphabet
(
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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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