Ruane Cunniff & Goldfarb L.P. cut its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,117,644 shares of the information services provider’s stock after selling 57,177 shares during the quarter. Alphabet comprises approximately 10.1% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Alphabet were worth $608,950,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $30,534,239,000. Cardano Risk Management B.V. grew its holdings in Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the period. Vanguard Group Inc. increased its position 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 buying an additional 12,531,695 shares during the last quarter. Capital World Investors raised its stake in Alphabet by 28.0% in the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after buying an additional 11,605,785 shares during the period. Finally, Diamant Asset Management Inc. lifted its position in shares of Alphabet by 28,950.0% in the first quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock valued at $2,671,986,000 after buying an additional 9,259,940 shares during the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Performance
NASDAQ GOOGL opened at $362.43 on Thursday. The firm 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 P/E ratio of 18.20, a P/E/G ratio of 1.06 and a beta of 1.24. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is currently 4.42%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Citizens Jmp restated a “market outperform” rating and issued a $515.00 price target on shares of Alphabet in a research note on Wednesday, July 22nd. Piper Sandler reissued an “overweight” rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. The Goldman Sachs Group lifted their target price on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Evercore increased their price target on shares of Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $419.86.
Read Our Latest Stock Report on Alphabet
Key Stories Impacting Alphabet
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
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 8,998 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 600,547 shares of company stock valued at $16,255,540 in the last three months. Corporate insiders own 11.61% of the company’s stock.
Alphabet Company 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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