Raab & Moskowitz Asset Management LLC Sells 2,361 Shares of Alphabet Inc. $GOOGL

Key Points

• Raab & Moskowitz Asset Management reduced its Alphabet stake by 6.9% in the first quarter, selling 2,361 shares and retaining 31,914 shares valued at approximately $9.18 million.
• Alphabet reported quarterly revenue of $119.8 billion and adjusted earnings of $9.11 per share, exceeding analysts’ expectations; institutional investors own about 40% of the company.
• Alphabet shares opened at $354.30, while analysts maintained an overall “Buy” consensus with an average price target of $419.86. The company also declared a quarterly dividend of $0.22 per share.

Raab & Moskowitz Asset Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,914 shares of the information services provider's stock after selling 2,361 shares during the quarter. Alphabet accounts for 2.0% of Raab & Moskowitz Asset Management LLC's portfolio, making the stock its 14th largest position. Raab & Moskowitz Asset Management LLC's holdings in Alphabet were worth $9,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet in the 4th quarter worth $32,000. EMC Capital Management purchased a new stake in Alphabet during the fourth quarter valued at $33,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the fourth quarter valued at about $38,000. Bard Associates Inc. bought a new position in Alphabet in the fourth quarter valued at about $52,000. Finally, Kentucky Trust Co boosted its position in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 1.0%

Shares of NASDAQ:GOOGL opened at $354.30 on Friday. The stock has a 50 day moving average of $355.68 and a 200 day moving average of $340.41. The company has a market cap of $4.33 trillion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.00 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $196.60 and a 12-month high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its 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 net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. As a group, equities research analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In related news, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total transaction of $27,337.98. Following the transaction, the director owned 18,914 shares in the company, valued at approximately $6,305,738.46. The trade was a 0.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was 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. Insiders have sold 600,547 shares of company stock valued at $16,255,540 over the last 90 days. Company insiders own 11.61% of the company's stock.

Alphabet News Roundup

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 Upgrades and Downgrades

A number of equities research analysts have issued reports on GOOGL shares. Roth Capital restated a "buy" rating and set a $440.00 price target (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. China Renaissance raised their price objective on shares of Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, May 4th. DA Davidson set a $350.00 target price on shares of Alphabet and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Citizens Jmp restated a "market outperform" rating and set a $515.00 target price on shares of Alphabet in a research report on Wednesday, July 22nd. Finally, Guggenheim reaffirmed a "buy" rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Six investment 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 company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Buy" and a consensus price target of $419.86.

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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