Osterweis Capital Management Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,182 shares of the information services provider’s stock after selling 4,976 shares during the quarter. Alphabet makes up 5.4% of Osterweis Capital Management Inc.’s portfolio, making the stock its biggest holding. Osterweis Capital Management Inc.’s holdings in Alphabet were worth $113,837,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares in the last quarter. BlackRock Inc. lifted its holdings in Alphabet by 1.4% in the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock valued at $130,704,718,000 after purchasing an additional 5,164,200 shares in the last quarter. State Street Corp boosted its stake in shares of Alphabet by 0.5% during the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after purchasing an additional 953,790 shares during the last quarter. Auto Owners Insurance Co boosted its stake in shares of Alphabet by 38,409.2% during the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares during the last quarter. Finally, J. Stern & Co. LLP grew its holdings in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after buying an additional 111,699,704 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
Alphabet stock opened at $335.41 on Tuesday. Alphabet Inc. has a 1 year low of $206.96 and a 1 year high of $404.47. The firm has a 50 day moving average price of $347.52 and a 200 day moving average price of $340.20. The company has a market cap of $4.10 trillion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.96 and a beta of 1.23. 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is presently 4.42%.
Insider Transactions at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, the chief accounting officer owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 451,925 shares of company stock worth $12,371,544 in the last ninety days. Insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GOOG. JPMorgan Chase & Co. cut their price objective on shares of Alphabet from $460.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 price target on Alphabet in a report on Thursday, July 23rd. Oppenheimer reissued an “outperform” rating and set a $400.00 price target (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Raymond James Financial restated a “strong-buy” rating on shares of Alphabet in a report on Thursday, July 23rd. Finally, Zacks Research lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $415.55.
View Our Latest Stock Report on Alphabet
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Analysts remain constructive on Alphabet’s outlook. Citizens analyst Andrew Boone expects the stock to reach a new all-time high over the next year, while recent GOOG targets have a median of $455, well above recent trading levels. Wall Street analyst sets Google price target
- Positive Sentiment: Alphabet’s record cloud growth, Gemini development and expanding AI infrastructure continue to support the bullish case. Investors are debating whether the company’s large AI spending program will produce durable growth, but some analysts view the recent pullback as an opportunity. One Mag 7 stock to watch
- Positive Sentiment: Meta- and Google-backed Jio Platforms received regulatory approval for an Indian IPO, potentially creating value for Alphabet’s investment and increasing visibility into one of its strategic holdings. Jio Platforms receives IPO approval
- Neutral Sentiment: Director Frances Arnold sold 82 shares for approximately $27,700, reducing her position by only 0.43%. The small transaction is unlikely to materially change Alphabet’s investment outlook, though broader insider activity has consisted entirely of sales during the past six months. Alphabet SEC insider filing
- Negative Sentiment: Investors are increasingly concerned that Meta’s AI-powered advertising products could challenge Google Search’s advertising dominance. OpenAI’s reported $1 billion advertising run rate adds to fears that competition for digital-ad budgets is intensifying. Bernstein warns on Meta competition
- Negative Sentiment: Regulatory pressure remains a major overhang. Google avoided a potential European penalty by changing search rules, while a £260 million U.K. app-store settlement adds another direct cost and highlights continuing scrutiny of its business practices. Google changes European search rules
- Negative Sentiment: Alphabet’s aggressive AI capital expenditures are raising concerns about free-cash-flow pressure and future margins, particularly as investors compare its spending strategy with Amazon’s. Alphabet and Amazon AI capital spending
- Negative Sentiment: Google Maps’ decision to display “Lake America” for U.S. users has triggered backlash in Canada, creating reputational and political risk, although the immediate financial impact appears limited. Google Maps Lake America controversy
Alphabet 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.
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