Unique Wealth LLC Cuts Stake in Alphabet Inc. $GOOGL

Key Points

• Unique Wealth LLC cut its Alphabet stake by 18.5% in the second quarter, selling 2,434 shares and retaining 10,742 shares valued at approximately $3.84 million.
• Alphabet insiders sold 450,875 shares worth about $11.98 million over the last quarter, while institutional investors own approximately 40.03% of the company.
• Wall Street remains bullish, with Alphabet carrying a consensus “Buy” rating and an average price target of $422.16. The company also reported quarterly revenue of $119.8 billion and EPS of $9.11, both exceeding analyst expectations.

Unique Wealth LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,742 shares of the information services provider's stock after selling 2,434 shares during the period. Unique Wealth LLC's holdings in Alphabet were worth $3,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Strategic Wealth Advisors LLC increased its holdings in Alphabet by 6.0% in the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after acquiring an additional 27 shares during the last quarter. Rockbridge Investment Management LCC lifted its stake in Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after purchasing an additional 27 shares during the last quarter. Ruggaard & Associates LLC boosted its position in Alphabet by 0.9% in the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider's stock valued at $840,000 after buying an additional 27 shares during the period. Cadia Private Client LLC boosted its holdings in shares of Alphabet by 1.1% in the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after purchasing an additional 28 shares during the period. Finally, Evansbrook LLC grew its holdings in Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider's stock worth $2,738,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, 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 transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This trade represents 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 accessible through this link. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the transaction, the director directly owned 18,995 shares in the company, valued at $6,414,801.45. This trade represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 450,875 shares of company stock valued at $11,984,482. 11.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOGL shares. HSBC reissued a "buy" rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Truist Financial set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a research report on Thursday, July 23rd. New Street Research lifted their price objective on shares of Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. KeyCorp boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Friday, July 17th. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Buy" and an average target price of $422.16.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Alphabet Stock Performance

NASDAQ GOOGL opened at $349.54 on Friday. The stock's fifty day moving average is $345.20 and its two-hundred day moving average is $344.91. The firm has a market capitalization of $4.27 trillion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.01 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a fifty-two week low of $235.84 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results 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. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. On average, research analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 7th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 4.42%.

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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