The Manufacturers Life Insurance Company cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,423,352 shares of the information services provider's stock after selling 387,277 shares during the quarter. Alphabet makes up 2.6% of The Manufacturers Life Insurance Company's portfolio, making the stock its 4th largest position. The Manufacturers Life Insurance Company owned about 0.09% of Alphabet worth $2,997,216,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $30,534,239,000. Cardano Risk Management B.V. lifted its stake in Alphabet by 855.3% in the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock valued at $4,546,413,000 after acquiring an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Capital World Investors boosted its position in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. Finally, Diamant Asset Management Inc. boosted its holdings in shares of Alphabet by 28,950.0% during the first quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock worth $2,671,986,000 after acquiring an additional 9,259,940 shares during the period. Institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Evercore lifted their price objective on Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Royal Bank Of Canada restated an "outperform" rating and issued a $425.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Stifel Nicolaus set a $420.00 price target on shares of Alphabet and gave the stock a "buy" rating in a report on Thursday, April 30th. Oppenheimer increased their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Finally, Barclays reissued an "overweight" rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of "Buy" and a consensus target price of $419.86.
Check Out Our Latest Analysis on Alphabet
More Alphabet News
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
Alphabet Price Performance
Alphabet stock opened at $362.43 on Thursday. The stock has a 50-day moving average price of $356.85 and a two-hundred day moving average price of $340.12. Alphabet Inc. has a 12 month low of $193.67 and a 12 month high of $408.61. The company has a market capitalization of $4.43 trillion, a PE ratio of 18.20, a P/E/G ratio of 1.06 and a beta of 1.24. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate 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 20.51 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio is 4.42%.
Insider Buying and Selling at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the business's 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 completion of the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 600,547 shares of company stock worth $16,255,540. 11.61% of the stock is currently owned by company insiders.
Alphabet Profile
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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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