University of Texas Texas AM Investment Management Co. Has $33.49 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• University of Texas Texas AM Investment Management Co. increased its Alphabet stake by 11.3% in the second quarter, holding 93,726 shares worth approximately $33.5 million. Alphabet now represents about 3.9% of the fund’s portfolio and is its fourth-largest position.
• Analysts remain broadly bullish on GOOGL, with six Strong Buy and 44 Buy ratings and a consensus price target of $420.19. Recent targets ranged from $379 to $475, although UBS lowered its target and maintained a Neutral rating.
• Alphabet reported quarterly earnings and revenue above consensus estimates and continues to benefit from strong AI investment, while insiders sold 451,945 shares worth about $12.4 million over the past three months. The company also declared a quarterly dividend of $0.22 per share.

University of Texas Texas AM Investment Management Co. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 93,726 shares of the information services provider's stock after purchasing an additional 9,497 shares during the period. Alphabet makes up approximately 3.9% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 4th largest position. University of Texas Texas AM Investment Management Co.'s holdings in Alphabet were worth $33,495,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the fourth quarter valued at $32,000. EMC Capital Management purchased a new stake in shares of Alphabet in the fourth quarter worth $33,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $52,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Alphabet during the third quarter valued at $53,000. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Pivotal Research reiterated a "buy" rating and issued a $475.00 price target (up from $470.00) on shares of Alphabet in a research note on Thursday, July 23rd. Robert W. Baird raised their price objective on shares of Alphabet from $380.00 to $400.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Arete Research lifted their target price on shares of Alphabet from $405.00 to $425.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Roth Capital reaffirmed a "buy" rating and issued a $440.00 target price (up from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, UBS Group dropped their target price on shares of Alphabet from $400.00 to $379.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. Six 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 data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $420.19.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 82 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total transaction of $27,337.98. Following the transaction, the director owned 18,914 shares in the company, valued at $6,305,738.46. This represents 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 the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 451,945 shares of company stock valued at $12,382,714. Insiders own 11.61% of the company's stock.

Alphabet Trading Up 1.2%

Alphabet stock opened at $344.82 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a one year low of $201.30 and a one year high of $408.61. The stock has a market capitalization of $4.22 trillion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The business's fifty day moving average is $352.00 and its 200 day moving average is $341.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. On average, sell-side analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

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 paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is currently 4.42%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Alphabet Profile

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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