Meeder Advisory Services Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 111,890 shares of the information services provider’s stock after selling 5,118 shares during the period. Alphabet accounts for 1.4% of Meeder Advisory Services Inc.’s portfolio, making the stock its 14th biggest position. Meeder Advisory Services Inc.’s holdings in Alphabet were worth $39,534,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Imprint Wealth LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter valued at $41,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in Alphabet in the fourth quarter worth about $45,000. 27.26% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Truist Financial cut their target price on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $460.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Barclays reiterated an “overweight” rating and issued a $425.00 target price (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company reduced their price target on Alphabet from $418.00 to $411.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $415.55.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google is expanding Gemini’s commercial reach by allowing Wix users to create complete websites within Google’s AI assistant. The move could increase Gemini engagement and strengthen Alphabet’s position in generative AI applications. Google Is Turning Gemini Into a Website Builder
- Positive Sentiment: Google Cloud entered an enterprise AI partnership with Verizon, supporting Alphabet’s efforts to monetize AI infrastructure and services with large corporate customers. Alphabet’s Google Cloud Enters Enterprise AI Partnership With Verizon
- Positive Sentiment: Investment commentary remains constructive on Alphabet’s sustainable growth outlook, citing its competitive advantages, strong profitability, revenue momentum and expanding cloud business. Alphabet’s Sustainable Growth Outlook Appears Stronger Than Expectations
- Positive Sentiment: Google reportedly plans to move all Pixel manufacturing out of China by 2027, shifting production toward Vietnam and India. The change could diversify supply chains and reduce geopolitical exposure, although transition costs remain possible. Google Plans to Move Pixel Manufacturing Out of China
- Neutral Sentiment: Alphabet was among the technology and social-media stocks showing strength, reflecting broader sector momentum rather than a company-specific catalyst. Social-Media Trade Splits
- Neutral Sentiment: Investors are watching a recently announced Google agreement with Marvell, which could provide additional insight into Alphabet’s AI hardware and data-center requirements when Marvell reports earnings. Marvell Earnings and Google Agreement
- Negative Sentiment: Analysts flagged negative free cash flow as a concern because Alphabet’s AI leadership requires heavy spending on data centers, chips and infrastructure. A potential $25 billion bond offering and reported off-balance-sheet commitments are also prompting capital-allocation questions. Alphabet Opinions on AI Advancements and Bond Offering
- Negative Sentiment: A delay in the next Gemini Pro release could leave Alphabet without a new flagship model tier in the near term, raising concerns about AI product execution and competitive pressure. Gemini Pro Delay
Alphabet Stock Performance
Shares of NASDAQ GOOG opened at $344.59 on Tuesday. Alphabet Inc. has a 12 month low of $205.95 and a 12 month high of $404.47. The business’s 50 day moving average is $349.89 and its two-hundred day moving average is $339.72. The company has a market cap of $4.21 trillion, a P/E ratio of 17.31, a P/E/G ratio of 0.96 and a beta of 1.23. 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 (NASDAQ:GOOG – Get Free Report) last released its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.31 EPS. On average, equities analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio is 4.42%.
Insider Buying and Selling
In other news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 451,945 shares of company stock valued at $12,382,714 in the last ninety days. Insiders own 12.99% of the company’s stock.
Alphabet Company Profile
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.
Further Reading
- Five stocks we like better than Alphabet
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
