Roffman Miller Associates Inc. PA Has $134.41 Million Position in Alphabet Inc. $GOOGL

Key Points

• Roffman Miller Associates reduced its Alphabet stake by 2.1% in the second quarter, selling 8,046 shares. Despite the reduction, Alphabet remains the firm’s largest holding, valued at $134.41 million and representing about 7% of its portfolio.
• Wall Street remains broadly positive on Alphabet, with an average “Buy” rating and a consensus price target of $420.19. Analysts cited in the report set targets ranging from $379 to $515.
• Alphabet exceeded quarterly expectations, reporting $9.11 in EPS and $119.8 billion in revenue versus estimates of $2.89 and $117.07 billion, respectively. Shares opened at $338.50, while the company also announced a quarterly dividend of $0.22 per share.

Roffman Miller Associates Inc. PA reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 376,110 shares of the information services provider's stock after selling 8,046 shares during the period. Alphabet accounts for approximately 7.0% of Roffman Miller Associates Inc. PA's portfolio, making the stock its largest position. Roffman Miller Associates Inc. PA's holdings in Alphabet were worth $134,410,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GOOGL. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the fourth quarter worth $32,000. EMC Capital Management purchased a new position in Alphabet during the 4th quarter valued at $33,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the 4th quarter worth $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter worth $52,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Alphabet in the 3rd quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Phillip Securities upgraded shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 27th. Barclays reaffirmed an "overweight" rating and set a $425.00 price objective (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Wall Street Zen lowered Alphabet from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group lowered their target price on Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. Finally, Citizens Jmp restated a "market outperform" rating and set a $515.00 price target on shares of Alphabet in a research report on Wednesday, July 22nd. Five 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. According to MarketBeat, Alphabet presently has an average rating of "Buy" and a consensus price target of $420.19.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $338.50 on Friday. The company has a 50 day simple moving average of $346.75 and a two-hundred day simple moving average of $343.66. Alphabet Inc. has a fifty-two week low of $235.84 and a fifty-two week high of $408.61. The company has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 0.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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. The firm had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Analysts expect that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's dividend payout ratio is currently 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google agreed to secure nuclear power for 22 years, reportedly locking in roughly half of a plant’s output through 2049. The deal could provide more predictable electricity costs and reliable power for energy-intensive AI data centers, strengthening Alphabet’s infrastructure position. Alphabet Jumps 2.5% After Locking In 22 Years of Nuclear Power
• Positive Sentiment: Google completed its acquisition of AI startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees are joining Google, potentially adding talent focused on AI agents and automation. Google just completed its $1.5 billion-plus deal for AI startup Mechanize
• Positive Sentiment: Investor commentary highlighted Alphabet’s strong AI and cloud outlook. Google Cloud is reportedly growing 82% year over year, while Alphabet’s Gemini technology is expanding into professional video-editing software, supporting the case that AI can broaden enterprise revenue beyond search advertising. Microsoft Vs. Alphabet: The Enterprise Fight No One Saw Coming
• Positive Sentiment: Recent coverage continues to present Alphabet as attractively valued relative to its growth prospects. The company’s latest reported quarter exceeded expectations, with earnings of $9.11 per share versus a $2.89 consensus estimate and revenue of $119.8 billion versus $117.07 billion expected.
• Neutral Sentiment: Alphabet’s inclusion among major AI and cloud beneficiaries, along with Berkshire Hathaway’s reported position in the company, may support investor interest but does not represent a new operating catalyst. Berkshire Hathaway Has a New Top Holding, and It Dominates Its Market
• Negative Sentiment: A law firm said it is continuing an investigation into possible federal securities-law violations involving Alphabet. The announcement does not establish wrongdoing, but it introduces a potential legal and reputational overhang. Securities Fraud Investigation Into Alphabet Continues
• Negative Sentiment: Alphabet faces scrutiny over the scale of AI infrastructure spending, potential financing pressure across the AI industry, and electricity-demand concerns related to new data centers. Finland opposition parties have warned that Google’s expansion could strain local power supplies and raise energy costs. Finland Risks Strained Power Supply After Google AI Deal

Insider Transactions at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 82 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $337.71, for a total transaction of $27,692.22. Following the sale, the director directly owned 18,995 shares in the company, valued at $6,414,801.45. This trade represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 451,925 shares of company stock valued at $12,371,544. 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.

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.