Trail Ridge Investment Advisors LLC Sells 2,017 Shares of Alphabet Inc. $GOOGL

Key Points

• Trail Ridge Investment Advisors cut its Alphabet stake by 42.3% in the second quarter, selling 2,017 shares and retaining 2,750 shares valued at approximately $983,000. Institutional investors and hedge funds own about 40% of Alphabet.
• Alphabet reported quarterly EPS of $9.11, far exceeding the $2.89 analyst estimate, while revenue reached $119.8 billion versus expectations of $117.07 billion.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $420.19, while Alphabet continues expanding its AI strategy through Google Cloud’s partnership with Accenture and related infrastructure investments.

Trail Ridge Investment Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 42.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,750 shares of the information services provider's stock after selling 2,017 shares during the period. Trail Ridge Investment Advisors LLC's holdings in Alphabet were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. EMC Capital Management acquired a new position in shares of Alphabet in the fourth quarter valued at about $33,000. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the 4th quarter worth approximately $32,000. IFC & Insurance Marketing Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter valued at approximately $52,000. Finally, Graney & King LLC lifted its stake in Alphabet by 38.5% in the 2nd quarter. Graney & King LLC now owns 180 shares of the information services provider's stock valued at $64,000 after purchasing an additional 50 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.0%

NASDAQ GOOGL opened at $338.36 on Wednesday. The business's 50-day moving average price is $348.34 and its two-hundred day moving average price is $343.37. Alphabet Inc. has a 12 month low of $233.23 and a 12 month high of $408.61. The firm has a market capitalization of $4.14 trillion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. 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 issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) 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 the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, analysts expect that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed 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 dividend payout ratio (DPR) is 4.42%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud expands enterprise AI push: Alphabet and Accenture are launching a joint unit with 1,000 forward-deployed engineers to help businesses implement Google’s AI tools. The partnership could accelerate Cloud adoption, improve monetization and help Alphabet compete more effectively with Microsoft and Amazon. Google Cloud races to catch up in the AI deployment wars with Accenture deal
• Positive Sentiment: Potential power support for AI infrastructure: The U.S. government approved a $1.9 billion loan to NextEra Energy to refurbish an Iowa nuclear plant that Google plans to use for power. Reliable, low-carbon electricity could help support Alphabet’s growing data-center demand, although the benefits are longer term. Google's revived nuclear power plant gets $1.9B loan from US government
• Positive Sentiment: Google and Cathay Pacific expanded trials of AI technology designed to reduce aircraft contrail warming, adding a potential sustainability and commercial-use case for Google’s AI capabilities. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 82 shares of the firm's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $337.71, for a total value of $27,692.22. Following the completion of the sale, the director directly owned 18,995 shares in the company, valued at approximately $6,414,801.45. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 451,925 shares of company stock valued at $12,371,544 in the last quarter. 11.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOGL. Roth Capital restated a "buy" rating and set a $440.00 price objective (up from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $410.00 target price on shares of Alphabet in a research report on Thursday, September 3rd. Citizens Jmp reissued a "market outperform" rating and set a $515.00 price target on shares of Alphabet in a research note on Wednesday, July 22nd. Zacks Research cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company set a $411.00 price objective on Alphabet and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $420.19.

Alphabet Profile

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.

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