RIHO Partners LLC Has $11.16 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• RIHO Partners increased its Alphabet stake by 19.9% in the first quarter to 38,825 shares valued at approximately $11.16 million, making Alphabet 7% of its portfolio and its seventh-largest holding.
• Alphabet reported quarterly EPS of $9.11, far exceeding the $2.89 analyst consensus, while revenue reached $119.8 billion versus expectations of $117.07 billion. The company also declared a quarterly dividend of $0.22 per share.
• Despite a 4% stock decline, analysts remain bullish: Alphabet has an average “Buy” rating and a consensus price target of $419.86, compared with an opening price of $362.43.

RIHO Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,825 shares of the information services provider's stock after buying an additional 6,457 shares during the quarter. Alphabet comprises 7.0% of RIHO Partners LLC's portfolio, making the stock its 7th largest holding. RIHO Partners LLC's holdings in Alphabet were worth $11,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Strategic Wealth Advisors LLC increased its holdings in Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock worth $137,000 after acquiring an additional 27 shares during the period. Rockbridge Investment Management LCC grew its position in shares of Alphabet by 0.5% during the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock valued at $1,570,000 after purchasing an additional 27 shares in the last quarter. Midwest Professional Planners LTD. grew its position in shares of Alphabet by 1.2% during the 1st quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider's stock valued at $680,000 after purchasing an additional 29 shares in the last quarter. Symmetry Partners LLC increased its holdings in shares of Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock worth $2,476,000 after purchasing an additional 30 shares during the period. Finally, Private Wealth Management Group LLC increased its holdings in shares of Alphabet by 1.2% in the first quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider's stock worth $730,000 after purchasing an additional 30 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 4.0%

GOOGL opened at $362.43 on Thursday. The business's fifty day simple moving average is $356.85 and its 200 day simple moving average is $340.12. Alphabet Inc. has a 52 week low of $193.67 and a 52 week high of $408.61. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.43 trillion, a PE ratio of 18.20, a P/E/G ratio of 1.06 and a beta of 1.24.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a $0.22 dividend. 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%.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Barclays reissued an "overweight" rating and set a $425.00 price objective (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Stifel Nicolaus set a $420.00 target price on Alphabet and gave the stock a "buy" rating in a research note on Thursday, April 30th. Wedbush reiterated an "outperform" rating and set a $445.00 price target on shares of Alphabet in a research report on Thursday, July 23rd. China Renaissance boosted their price objective on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Wells Fargo & Company set a $411.00 price objective on shares of Alphabet and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $419.86.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is reportedly discussing a potential deal valued at more than $1.5 billion with AI coding-agent startup Mechanize. The arrangement could provide access to specialized talent and technology in a rapidly expanding AI application market. Google is in talks for a $1.5 billion-plus deal with AI coding agent startup Mechanize
• Positive Sentiment: Alphabet continues to benefit from strong fundamentals and AI-related growth opportunities, including its cloud business, advertising franchise and direct sales of custom Tensor Processing Units. Analysts remain broadly optimistic about the stock’s long-term growth prospects. Is Alphabet a Solid Growth Stock?
• Positive Sentiment: Alphabet-owned Waymo opened its Dallas robotaxi service to all residents and visitors, supporting the company’s effort to scale autonomous-driving operations. Waymo opens up robotaxi service in Dallas to everyone
• Neutral Sentiment: Demis Hassabis is moving from leading Google DeepMind into an Alphabet chief scientist role focused on long-term research and AI safety. Management described the move as a leadership realignment, but investors are weighing whether it could disrupt near-term product execution. Google shakes up AI leadership as DeepMind chief shifts role
• Negative Sentiment: Longtime chief scientist Jeff Dean and three other senior AI researchers are leaving Google to launch Discovery Loop, an AI startup focused on automated research and drug design. The departures intensify concerns over the loss of influential technical talent during the AI race. Google chief scientist Jeff Dean leaving in AI reshuffle
• Negative Sentiment: The leadership overhaul comes while Google’s latest flagship Gemini release remains delayed, increasing investor anxiety about product momentum and competitive positioning. Why is Alphabet stock falling?
• Negative Sentiment: A U.K. tribunal allowed a roughly $6.7 billion advertiser class action to proceed, adding to Alphabet’s regulatory and legal exposure in its search and advertising businesses. UK Tribunal Rejects Google Bid to Block Advertiser Class Action

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet 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. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Insiders sold 600,547 shares of company stock worth $16,255,540 in the last three months. Corporate insiders own 11.61% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source