Smith Chas P & Associates PA Cpas Trims Position in Alphabet Inc. $GOOG

Key Points

• Smith Chas P & Associates reduced its Alphabet stake by 9.4% in the second quarter, selling 35,282 shares. Alphabet remains the fund’s largest holding, representing 5.8% of its portfolio and valued at approximately $119.6 million.
• Alphabet reported strong quarterly results, with earnings of $9.11 per share and revenue of $119.8 billion, surpassing analyst estimates and increasing 24.2% year over year. The company also declared a quarterly dividend of $0.22 per share.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $415.55. Meanwhile, Alphabet is expanding its AI capabilities and infrastructure, though investors remain concerned about roughly $200 billion in planned AI spending, rising data-center costs and intensifying competition.

Smith Chas P & Associates PA Cpas reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 338,489 shares of the information services provider's stock after selling 35,282 shares during the period. Alphabet makes up 5.8% of Smith Chas P & Associates PA Cpas' portfolio, making the stock its largest holding. Smith Chas P & Associates PA Cpas' holdings in Alphabet were worth $119,598,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GOOG. Talon Private Wealth LLC boosted its holdings in shares of Alphabet by 20.6% during the 2nd quarter. Talon Private Wealth LLC now owns 2,216 shares of the information services provider's stock valued at $783,000 after purchasing an additional 379 shares during the last quarter. Bouchey Financial Group Ltd. increased its holdings in shares of Alphabet by 11.7% in the second quarter. Bouchey Financial Group Ltd. now owns 7,561 shares of the information services provider's stock worth $2,672,000 after purchasing an additional 794 shares during the last quarter. Miramontes Capital LLC increased its holdings in shares of Alphabet by 22.0% in the second quarter. Miramontes Capital LLC now owns 3,459 shares of the information services provider's stock worth $1,222,000 after purchasing an additional 623 shares during the last quarter. Core Capital Management & Research inc. bought a new stake in shares of Alphabet in the second quarter worth about $521,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Alphabet by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 3,123,535 shares of the information services provider's stock worth $1,103,632,000 after buying an additional 141,923 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director John Hennessy sold 1,050 shares of Alphabet 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 completion of the transaction, the director directly owned 1,481 shares of the company's stock, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kent Walker sold 8,998 shares of Alphabet stock in a transaction 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 transaction, the insider directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 1.5%

Shares of NASDAQ:GOOG opened at $335.45 on Friday. 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 $236.68 and a 12 month high of $404.47. The company has a 50-day moving average price of $344.76 and a 200 day moving average price of $341.64. The company has a market cap of $4.10 trillion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.97 and a beta of 1.21.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $116.53 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 20.52 earnings per share for the current 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 given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wolfe Research reissued an "outperform" rating on shares of Alphabet in a research note on Thursday, August 27th. DZ Bank raised Alphabet to a "strong-buy" rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Friday, July 17th. Oppenheimer reiterated an "outperform" rating and set a $400.00 target price (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, TD Cowen reissued a "buy" rating and issued a $475.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $415.55.

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google's core internet businesses from a collection of other ventures. Google remains Alphabet's largest business and serves users, advertisers, businesses and developers worldwide.

Google's principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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