Steinberganna Wealth Management Sells 4,236 Shares of Alphabet Inc. $GOOGL

Key Points

• Steinberganna Wealth Management cut its Alphabet stake by 54.6%, selling 4,236 shares in the third quarter and retaining 3,522 shares valued at approximately $1.21 million. Institutional investors own about 40% of Alphabet.
• Alphabet’s latest quarterly results missed expectations, with EPS of $2.12 versus the $3.02 consensus and revenue of $127.58 billion slightly below forecasts. The stock opened at $279.84, near its one-year low and well below its 50- and 200-day moving averages.
• Despite the earnings miss and concerns over AI infrastructure spending, analysts maintain a consensus “Buy” rating with a $410.46 target price; Alphabet also declared a quarterly dividend of $0.22 per share.

Steinberganna Wealth Management lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 54.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,522 shares of the information services provider's stock after selling 4,236 shares during the period. Steinberganna Wealth Management's holdings in Alphabet were worth $1,212,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Swmg LLC raised its position in Alphabet by 31.8% in the third quarter. Swmg LLC now owns 936 shares of the information services provider's stock valued at $304,000 after purchasing an additional 226 shares during the period. Radnor Capital Management LLC boosted its position in shares of Alphabet by 0.7% in the third quarter. Radnor Capital Management LLC now owns 31,679 shares of the information services provider's stock worth $10,900,000 after buying an additional 224 shares during the period. Code Waechter LLC grew its stake in shares of Alphabet by 28.2% in the third quarter. Code Waechter LLC now owns 4,545 shares of the information services provider's stock valued at $1,564,000 after buying an additional 1,000 shares in the last quarter. Bernardo Wealth Planning LLC raised its holdings in shares of Alphabet by 136.3% during the 3rd quarter. Bernardo Wealth Planning LLC now owns 8,692 shares of the information services provider's stock valued at $2,991,000 after buying an additional 5,013 shares during the period. Finally, MN Wealth Advisors LLC lifted its position in Alphabet by 1.0% during the 3rd quarter. MN Wealth Advisors LLC now owns 9,623 shares of the information services provider's stock worth $3,311,000 after acquiring an additional 97 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $279.84 on Monday. The business's fifty day moving average is $339.07 and its two-hundred day moving average is $340.17. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 14.61, a P/E/G ratio of 0.83 and a beta of 1.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a 1 year low of $270.70 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The business had revenue of $127.58 billion during the quarter, compared to analysts' expectations of $127.96 billion. On average, research analysts forecast that Alphabet Inc. will post 20.05 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 4.59%.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares of the company's stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 247 shares of company stock valued at $79,238. Corporate insiders own 11.61% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOGL shares. Barclays restated an "overweight" rating and issued a $405.00 target price (down from $425.00) on shares of Alphabet in a research note on Thursday. Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 27th. Yorkville Ives began coverage on shares of Alphabet in a research note on Monday, October 5th. They issued an "outperform" rating and a $400.00 price target for the company. Wedbush dropped their target price on shares of Alphabet from $445.00 to $387.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $385.00 price target on shares of Alphabet in a research report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $410.46.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue more than doubled year over year to approximately $30.7 billion, while its backlog reached $561 billion. The results support Alphabet’s position as a major beneficiary of enterprise AI demand. Alphabet's Cloud Business Just Doubled
• Positive Sentiment: Several analysts remain constructive after the selloff. Guggenheim and Needham reaffirmed “buy” ratings with $450 targets, while Citigroup and Wells Fargo retained bullish ratings and projected substantial upside despite lowering their targets.
• Positive Sentiment: Alphabet’s AI ecosystem could gain from rising demand for cloud capacity and specialized chips. Waymo is also expanding internationally through a partnership with Toyota, although the business remains small relative to Alphabet’s core operations. Waymo taps Toyota to supply robotaxis
• Neutral Sentiment: Multiple securities law firms publicized class-action lawsuits and lead-plaintiff deadlines tied to alleged disclosures about Alphabet’s Gemini AI development. These notices add headline risk, but their direct financial impact remains uncertain.
• Negative Sentiment: Alphabet reported adjusted earnings of $2.12 per share, below consensus near $2.94-$3.02, while revenue of $127.6 billion also missed expectations. Search and other revenue grew about 12% to roughly $63 billion, but fell short of forecasts, reinforcing fears that AI-generated answers and “AI mode” searches may monetize less effectively than traditional Search.
• Negative Sentiment: AI infrastructure spending caused free cash flow to remain negative by roughly $9.1 billion for a second consecutive quarter. Investors are questioning whether the enormous capital outlays will produce adequate returns and whether Alphabet may need additional debt or equity financing.
• Negative Sentiment: An unrealized loss on Alphabet’s SpaceX investment reduced quarterly earnings by approximately $0.55 per share, while an EU antitrust fine further pressured results. Analysts including RBC, Wells Fargo, Citigroup, Wedbush, KeyCorp and Cantor Fitzgerald lowered price targets, even though most maintained positive ratings.

About Alphabet

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.

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