South Street Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,233 shares of the information services provider's stock after selling 2,162 shares during the period. Alphabet comprises approximately 5.2% of South Street Advisors LLC's holdings, making the stock its 3rd largest holding. South Street Advisors LLC's holdings in Alphabet were worth $40,109,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Lifetime Wealth Management P.C. purchased a new position in Alphabet in the 4th quarter worth about $32,000. EMC Capital Management purchased a new stake in Alphabet in the 4th quarter valued at about $33,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the 4th quarter worth about $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter worth about $52,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Alphabet during the third quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of GOOGL stock opened at $346.96 on Wednesday. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 1.24. The company's 50 day moving average is $351.05 and its 200 day moving average is $341.51. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $205.65 and a 52-week high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet's payout ratio is presently 4.42%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on GOOGL shares. Mizuho lifted their price target on shares of Alphabet from $420.00 to $460.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Piper Sandler reissued an "overweight" rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Friday, July 17th. Barclays reaffirmed an "overweight" rating and set a $425.00 target price (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Daiwa Securities Group upped their target price on Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Buy" and an average price target of $420.19.
Check Out Our Latest Stock Report on Alphabet
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway significantly increased its Alphabet position. Berkshire’s second-quarter filing reportedly showed an 83% increase in its stake to approximately $37.8 billion, making Alphabet one of its largest holdings. The purchase may reinforce investor confidence in Alphabet’s valuation, cash generation and AI growth prospects. Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding
- Positive Sentiment: Google expanded Gemini Enterprise into legal and financial services. New specialized AI agents and tools could help Google Cloud monetize Gemini, compete with Anthropic and OpenAI, and deepen relationships with high-value enterprise customers. Google expands Gemini AI platform for law firms, lawyers
- Positive Sentiment: Alphabet-owned Waymo is expanding internationally. Waymo plans to test autonomous vehicles in Munich and launch commercial driverless rides in Germany in 2027, its first European market. The move supports the long-term growth case for Alphabet’s autonomous-driving investments, although near-term financial benefits are likely limited. Waymo to begin testing autonomous vehicles in Munich
- Positive Sentiment: Google’s in-house TPU strategy is attracting attention. Reports that TPU volume could potentially triple by 2027 suggest growing demand for Google’s AI infrastructure and could improve cloud economics while reducing reliance on Nvidia hardware. Google TPU Volume Could Triple to 8.8 Million by 2027
- Neutral Sentiment: Google reportedly plans to move Pixel manufacturing out of China by 2027. Shifting production to Vietnam and India could diversify supply chains, but relocation costs and execution risks make the immediate earnings impact uncertain. Google plans to move all Pixel manufacturing out of China by 2027
- Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Alphabet investors. The notice provides few details, but securities-law investigations can create headline risk, potential legal expenses and uncertainty for shareholders. Investor Alert: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Alphabet
- Negative Sentiment: Possible delays to a new Gemini Pro release may be weighing on AI sentiment. Reports that a flagship Gemini update may not arrive before late September could raise concerns about Google’s pace of innovation as competition from Anthropic and OpenAI intensifies. Gemini Pro delay leaves Google with an empty flagship tier
Insider Buying and Selling
In other Alphabet news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction dated 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 transaction, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 451,945 shares of company stock valued at $12,382,714. Company insiders own 11.61% of the company's stock.
About Alphabet
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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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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.
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