Teamwork Financial Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,089 shares of the information services provider’s stock after selling 7,369 shares during the quarter. Alphabet accounts for about 2.3% of Teamwork Financial Advisors LLC’s portfolio, making the stock its 10th largest position. Teamwork Financial Advisors LLC’s holdings in Alphabet were worth $21,020,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the business. State Street Corp increased its holdings in Alphabet by 5.6% in the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock valued at $85,403,303,000 after purchasing an additional 12,718,127 shares during the period. Amundi raised its position in Alphabet by 4.6% during the 2nd quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock worth $11,865,809,000 after purchasing an additional 1,457,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Alphabet by 10.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider’s stock worth $6,334,186,000 after buying an additional 1,631,721 shares during the period. Swiss National Bank lifted its holdings in Alphabet by 7.1% during the 1st quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock worth $4,911,467,000 after buying an additional 1,139,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Alphabet by 90.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock valued at $4,900,078,000 after buying an additional 8,112,680 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Alphabet Stock Down 3.1%
Shares of NASDAQ:GOOGL opened at $324.22 on Friday. The company has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 0.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The business’s 50-day moving average is $343.31 and its 200-day moving average is $353.04. Alphabet Inc. has a 1 year low of $251.85 and a 1 year high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $117.07 billion. Equities research analysts predict that Alphabet Inc. will post 20.60 earnings per share for the current year.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent research reports. Tigress Financial reissued a “strong-buy” rating and issued a $485.00 price target (up from $415.00) on shares of Alphabet in a research note on Thursday, September 17th. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays reiterated an “overweight” rating and issued a $425.00 target price (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. BMO Capital Markets reissued an “outperform” rating and set a $480.00 target price (up from $465.00) on shares of Alphabet in a research report on Tuesday. Finally, Pivotal Research restated a “buy” rating and set a $475.00 price target (up from $470.00) on shares of Alphabet in a report on Thursday, July 23rd. Five analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $425.04.
Get Our Latest Research Report on GOOGL
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud and AI demand remain key bullish factors. Coverage highlights accelerating Google Cloud growth, expanding demand for AI infrastructure, and Alphabet’s Gemini models and in-house chips as potential drivers of future revenue and margins. OpenAI’s decision to make its models available through Google Cloud could also increase enterprise cloud usage. OpenAI to bring AI models to Google’s cloud
- Positive Sentiment: Some analysts see substantial upside. Bullish commentary points to strong search and cloud fundamentals, a lower valuation than many large technology peers, and potential upside if Alphabet demonstrates that AI spending is translating into durable growth. TikTok’s reported shift of advertising toward YouTube may provide an additional, though smaller, benefit. Alphabet could still have room to run
- Positive Sentiment: Citizens JMP maintained an outperform rating. The firm lowered its price target from $515 to $450, but the revised target still implies considerable potential appreciation from current levels. Banking giant cuts Google stock price target
Insider Buying and Selling at Alphabet
In other Alphabet news, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the 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. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 315,765 shares of company stock valued at $6,297,980. 11.61% of the stock is currently owned by company insiders.
About Alphabet
Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.
Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.
Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.
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