The Manufacturers Life Insurance Company lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,273,694 shares of the information services provider’s stock after selling 1,149,658 shares during the quarter. Alphabet accounts for about 2.6% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 5th largest holding. The Manufacturers Life Insurance Company’s holdings in Alphabet were worth $3,314,105,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Strategic Wealth Advisors LLC lifted its position in Alphabet by 6.0% during the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares during the period. Rockbridge Investment Management LCC grew its position in shares of Alphabet by 0.5% during the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock worth $1,570,000 after buying an additional 27 shares during the period. Ruggaard & Associates LLC grew its position in shares of Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after buying an additional 27 shares during the period. Cadia Private Client LLC raised its stake in shares of Alphabet by 1.1% during the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after buying an additional 28 shares during the last quarter. Finally, Evansbrook LLC lifted its holdings in Alphabet by 0.3% in the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock valued at $2,738,000 after buying an additional 28 shares during the period. Institutional investors own 40.03% of the company’s stock.
Alphabet Price Performance
Shares of GOOGL stock opened at $330.65 on Thursday. Alphabet Inc. has a 12-month low of $235.84 and a 12-month high of $408.61. The firm has a market capitalization of $4.04 trillion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $347.72 and a 200-day moving average of $343.57.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is presently 4.42%.
Insiders Place Their Bets
In other news, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the sale, the director owned 18,995 shares of the company’s stock, valued at $6,414,801.45. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Insiders sold 451,925 shares of company stock worth $12,371,544 over the last ninety days. 11.61% of the stock is currently owned by corporate insiders.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google announced plans to invest at least €13 billion ($15 billion) in Finnish data centers and AI infrastructure over the next two years—its largest-ever European investment. The facilities are expected to support Gemini, Search, Maps and YouTube, while a power agreement with Fortum, including nuclear energy, may help address AI’s substantial electricity needs. Google to invest $15 billion AI infrastructure in Finland
- Positive Sentiment: Google Cloud and Accenture launched a joint unit deploying 1,000 engineers to help companies implement AI agents. The initiative could accelerate enterprise adoption of Google’s cloud and AI services and improve monetization of Alphabet’s infrastructure spending. Google Cloud and Accenture AI deployment deal
- Positive Sentiment: Co-founder Sergey Brin is taking a more active role in advancing Gemini, signaling increased founder involvement as Alphabet seeks to strengthen its position in the AI race. Sergey Brin takes bigger role in Google AI
- Neutral Sentiment: Analysts continue to cite Alphabet’s strong return on invested capital, balance sheet and rapidly growing Google Cloud business as long-term strengths. However, the stock’s valuation is being assessed alongside its expanding AI infrastructure commitments.
- Negative Sentiment: The scale of the Finland and broader AI buildout increases capital expenditures and is pressuring free cash flow, creating uncertainty about when the investments will generate sufficient returns.
- Negative Sentiment: Meta’s launch of the paid Muse AI agent raised concerns that autonomous assistants could bypass traditional search results, weakening Alphabet’s search advertising model. Higher Treasury yields are also weighing on high-multiple technology stocks. Meta Muse AI agent pressures Alphabet
- Negative Sentiment: Google warned that EU-mandated changes to its European search results could reduce search quality, increase costs for businesses and potentially affect user engagement. Google warns of lower-quality European search results
Wall Street Analyst Weigh In
A number of research firms have commented on GOOGL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Friday, July 17th. Rosenblatt Securities reissued a “buy” rating and issued a $410.00 price target on shares of Alphabet in a research note on Thursday, September 3rd. Wedbush reaffirmed an “outperform” rating and set a $445.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Zacks Research downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, New Street Research increased their target price on Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $420.19.
Check Out Our Latest Report on GOOGL
Alphabet Profile
Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.
Alphabet’s largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.
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