Renaissance Technologies LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 83.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 542,471 shares of the information services provider's stock after purchasing an additional 246,001 shares during the quarter. Renaissance Technologies LLC's holdings in Alphabet were worth $155,991,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in GOOGL. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its stake in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank raised its stake in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock valued at $8,495,000 after purchasing an additional 3,120 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of recent research reports. Rosenblatt Securities reissued a "neutral" rating and issued a $393.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a report on Monday, May 4th. KeyCorp lifted their price target on Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Finally, Bank of America raised their price objective on Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Buy" and an average price target of $419.86.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $373.51 on Tuesday. 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 $190.12 and a 12 month high of $408.61. The company has a market capitalization of $4.57 trillion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.00 and a beta of 1.24. The firm's 50-day moving average is $357.60 and its 200 day moving average is $339.62.
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 the consensus estimate of $2.89 by $6.22. The business had revenue of $119.80 billion during 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%. Research analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's payout ratio is presently 4.42%.
Insider Activity at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director directly owned 1,481 shares of the company's stock, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. 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 in the last quarter. 11.61% of the stock is owned by company insiders.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Strong earnings and analyst support: Alphabet’s latest results significantly exceeded consensus expectations, reinforcing confidence in accelerating revenue and profit growth. Multiple reports describe the stock as undervalued or a favorable growth investment, while analysts maintain a consensus “Buy” rating. Alphabet Stock is Climbing: What's Going On Today?
- Positive Sentiment: AI infrastructure positioning: Commentary argues Alphabet is better equipped than many peers to absorb the cost of Nvidia chips while benefiting from expanding AI demand. Investors also see Google Search, cloud services, and AI infrastructure as complementary growth engines. Berkshire Hathaway’s reported investment in Alphabet adds to the bullish narrative. The Nvidia Tax: Alphabet Mitigates It Better
- Positive Sentiment: Waymo validation: An analysis reported that Alphabet’s Waymo robotaxis crash substantially less often than human-driven vehicles. While Waymo is not yet a major earnings contributor, the finding supports Alphabet’s long-term autonomous-driving and technology portfolio. Waymo robotaxis found to crash 68% less often
- Positive Sentiment: Commercial AI momentum: Google’s partnership with Paris Saint-Germain and participation in upcoming White House AI-regulation discussions highlight expanding enterprise and institutional interest in its AI capabilities. Paris Saint-Germain partners with Google on AI
- Neutral Sentiment: Microsoft’s lead in cloud market share remains a competitive concern, although Alphabet’s Google Cloud continues to grow and benefits from the same AI spending cycle. Microsoft Races Ahead of Google in the Cloud
- Neutral Sentiment: Investors are weighing whether heavy AI capital expenditures will temporarily pressure margins or create durable long-term returns.
- Negative Sentiment: A Google Earth tool reportedly made it possible to create AI-generated fake satellite imagery, raising questions about safeguards, misinformation, and potential regulatory scrutiny. For a Day, Google Made It Easy to Spoof Satellite Imagery
Alphabet Company 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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