WealthCollab LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 74.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,038 shares of the information services provider's stock after selling 8,931 shares during the quarter. WealthCollab LLC's holdings in Alphabet were worth $872,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Kathmere Capital Management LLC boosted its stake in Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after buying an additional 2,341 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management increased its stake in Alphabet by 1.0% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock worth $86,596,000 after acquiring an additional 2,850 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock worth $19,060,000 after acquiring an additional 4,239 shares in the last quarter. Violich Capital Management Inc. raised its holdings in shares of Alphabet by 1.0% during the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock worth $106,936,000 after acquiring an additional 3,378 shares in the last quarter. Finally, Sax Wealth Advisors LLC boosted its position in shares of Alphabet by 16.0% during the 4th quarter. Sax Wealth Advisors LLC now owns 28,006 shares of the information services provider's stock valued at $8,788,000 after acquiring an additional 3,868 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Alphabet Price Performance
Shares of Alphabet stock opened at $319.09 on Friday. The stock has a market cap of $3.87 trillion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 2.72. The stock has a 50 day moving average price of $360.63 and a 200-day moving average price of $337.38. Alphabet Inc. has a one year low of $188.70 and a one year high of $404.47.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. Alphabet's quarterly revenue was up 24.2% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 17.25 EPS for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is 4.42%.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Alphabet from $418.00 to $411.00 and set an "overweight" rating for the company in a report on Thursday. Wolfe Research set a $460.00 price target on shares of Alphabet in a research note on Thursday. Wedbush began coverage on shares of Alphabet in a research report on Thursday, July 16th. They set an "outperform" rating and a $445.00 price objective for the company. Roth Capital lifted their price objective on shares of Alphabet from $435.00 to $440.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Citigroup restated a "market outperform" rating on shares of Alphabet in a report on Wednesday. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Buy" and an average price target of $410.09.
Check Out Our Latest Report on GOOG
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 159,415 shares of company stock valued at $7,672,279. Insiders own 12.99% of the company's stock.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet posted a strong Q2 beat, with revenue and EPS coming in ahead of expectations, while Google Cloud revenue surged 82% and cloud margins improved sharply.
- Positive Sentiment: AI and product demand remain strong, with management saying AI usage is rising across Search, Cloud, and Gemini, supporting the long-term growth story.
- Positive Sentiment: Several analysts reiterated bullish views or raised targets, and multiple commentary pieces argued the stock looks attractive after the pullback.
- Positive Sentiment: Verizon signed a deal worth more than $1 billion with Google for dark fiber connectivity, adding another sign of infrastructure demand tied to Alphabet’s data-center buildout. Article Title
- Neutral Sentiment: Waymo is reportedly considering ending its Uber partnership, which could affect how quickly Alphabet’s robotaxi business scales, but the direct financial impact is still unclear. Article Title
- Neutral Sentiment: Alphabet also disclosed a large SpaceX stake and saw some institutional holders trim positions, but these items are secondary to the main debate over AI spending and cash flow.
- Negative Sentiment: Investors were unnerved by Alphabet’s higher CapEx guidance and negative free cash flow, which raised concerns that AI spending may be outpacing near-term returns.
- Negative Sentiment: Alphabet was also hit by an EU antitrust fine of about $1 billion, adding another regulatory overhang. Article Title
- Negative Sentiment: Moody’s warned that the industry-wide AI buildout could threaten credit quality at Alphabet and other hyperscalers, reinforcing concerns about balance-sheet strain from heavy infrastructure investment. Article Title
About Alphabet
(
Free Report)
Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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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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