Somerville Kurt F trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,282 shares of the information services provider’s stock after selling 6,463 shares during the quarter. Alphabet accounts for approximately 6.4% of Somerville Kurt F’s holdings, making the stock its 2nd biggest holding. Somerville Kurt F’s holdings in Alphabet were worth $26,904,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EMC Capital Management purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $33,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the fourth quarter worth about $32,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. bought a new position in Alphabet in the 4th quarter worth about $52,000. Finally, Graney & King LLC grew its holdings in shares of Alphabet by 38.5% during the second quarter. Graney & King LLC now owns 180 shares of the information services provider’s stock valued at $64,000 after buying an additional 50 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Walker sold 8,998 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was 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 $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 451,925 shares of company stock worth $12,371,544 in the last 90 days. 11.61% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Read Our Latest Research Report on Alphabet
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: A federal judge rejected the U.S. government’s request to force Google to sell its AdX advertising exchange and other ad-tech assets. Although Alphabet must change certain business practices, avoiding a breakup preserves the company’s advertising infrastructure and revenue potential. Google defeats US bid to force ad tech sale
- Positive Sentiment: Berkshire Hathaway increased its Alphabet stake, with CEO Greg Abel describing Google as a significant AI player. The investment is a high-profile endorsement of Alphabet’s long-term competitive position in AI. Berkshire CEO Abel says Alphabet a significant player in AI
- Positive Sentiment: Google introduced conversational AI voice features for Gmail, Docs and Keep, expanding Gemini’s integration into widely used Workspace products. A new weather-forecasting model and planned AI image tools also highlight continued product development and potential monetization opportunities. Google launches AI voice features in Gmail, Docs and Keep
- Positive Sentiment: Rosenblatt Securities reaffirmed its buy rating and set a $410 price target. Alphabet will also pay a quarterly dividend of $0.22 per share to eligible shareholders, adding to its shareholder-return appeal. Google to pay dividends this month
- Neutral Sentiment: Alphabet agreed to purchase approximately 396 megawatts of geothermal power from Fervo Energy for a Utah data center, with an expansion option. The deal supports reliable power for AI infrastructure but also underscores the scale and cost of Alphabet’s data-center buildout.
- Negative Sentiment: Investors continue to weigh antitrust-related behavioral remedies, a securities-fraud investigation, insider selling reports and concerns that the promised Gemini 3.5 Pro flagship model remains delayed. These issues could limit sentiment despite the favorable breakup ruling. Securities fraud investigation into Alphabet
Alphabet Stock Up 1.6%
Shares of NASDAQ GOOGL opened at $342.48 on Friday. The stock’s fifty day simple moving average is $349.00 and its two-hundred day simple moving average is $342.64. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $226.11 and a 12-month high of $408.61. The stock has a market capitalization of $4.19 trillion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. As a group, analysts expect that Alphabet Inc. will post 20.5 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared 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. 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 (DPR) is currently 4.42%.
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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