XXI Wealth LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 21.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,817 shares of the information services provider’s stock after buying an additional 2,407 shares during the quarter. Alphabet comprises 1.8% of XXI Wealth LLC’s portfolio, making the stock its 7th largest holding. XXI Wealth LLC’s holdings in Alphabet were worth $4,754,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp grew its position 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 worth $85,403,303,000 after acquiring an additional 12,718,127 shares in the last quarter. Amundi raised its position in Alphabet by 4.6% during the second quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock valued at $11,865,809,000 after purchasing an additional 1,457,371 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 10.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider’s stock valued at $6,334,186,000 after purchasing an additional 1,631,721 shares during the last quarter. Swiss National Bank lifted its stake in shares of Alphabet by 7.1% in the 1st quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings 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 worth $4,900,078,000 after purchasing an additional 8,112,680 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $283.82 on Friday. The firm’s 50 day simple moving average is $340.29 and its 200-day simple moving average is $340.43. 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 Inc. has a one year low of $270.70 and a one year high of $408.61. The firm has a market cap of $3.47 trillion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.94 and a beta of 1.21.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 46.63%. The firm had revenue of $127.58 billion during the quarter, compared to analysts’ expectations of $127.96 billion. As a group, equities analysts predict that Alphabet Inc. will post 20.60 EPS for the current year.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud delivered exceptional growth. Cloud revenue more than doubled year over year to approximately $30.7 billion, while its backlog reached $561 billion. The results indicate strong demand for Alphabet’s AI infrastructure and cloud services. Alphabet’s Cloud Business Just Doubled
- Positive Sentiment: Alphabet’s AI ecosystem is gaining commercial traction. OpenAI reportedly plans to use Google’s custom TPU chips, and search query growth reached its strongest year-over-year pace in five years. These developments could support longer-term cloud, chip and AI revenue opportunities.
- Positive Sentiment: Some analysts remain constructive despite reducing targets. Guggenheim and Needham reaffirmed “buy” ratings, while RBC, Wedbush, KeyCorp, Susquehanna and Truist retained positive or outperform-equivalent ratings.
- Neutral Sentiment: Analyst expectations were reset lower. Multiple firms cut price targets, including RBC to $400, Wedbush to $387 and DA Davidson to $300, although most remained positive or neutral rather than bearish.
- Neutral Sentiment: Alphabet faces several securities class-action notices concerning alleged disclosures about the development of its Gemini AI models. The lawsuits and lead-plaintiff deadlines add reputational and legal uncertainty, but their immediate financial impact is unclear.
- Negative Sentiment: Alphabet missed Wall Street’s quarterly expectations. Adjusted earnings were $2.12 per share versus roughly $3.02 expected, while revenue of $127.6 billion was slightly below forecasts. Search and other revenue grew 12% but missed estimates for a second consecutive quarter, and YouTube advertising revenue also fell short.
- Negative Sentiment: AI spending is pressuring cash generation. Alphabet reported approximately $9.1 billion of negative free cash flow as capital expenditures for data centers and AI capacity exceeded operating cash flow. Investors are questioning whether the spending will generate adequate returns and whether it could constrain buybacks or dividends. Alphabet earnings miss reflects first real sign that AI is taking a bite out of search
- Negative Sentiment: AI-powered search appears less profitable than traditional search, raising concerns that AI could disrupt Alphabet’s core advertising engine even as it increases user engagement.
- Negative Sentiment: An unrealized loss on Alphabet’s SpaceX investment and an EU antitrust fine further reduced reported earnings, amplifying the quarter’s bottom-line miss.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Rosenblatt Securities cut their target price on Alphabet from $410.00 to $380.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Alphabet from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Zacks Research downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Piper Sandler set a $345.00 target price on Alphabet and gave the company an “overweight” rating in a research report on Thursday. Finally, UBS Group set a $332.00 price target on Alphabet and gave the stock a “neutral” rating in a research note on Thursday. Five analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $412.82.
Check Out Our Latest Stock Report on GOOGL
Insider Buying and Selling
In other Alphabet news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares of the company’s stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.61% of the stock is owned by insiders.
Alphabet Profile
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.
Featured Stories
- Five stocks we like better than Alphabet
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
- NXP Semiconductors Falls After Strong Earnings—Is the Sell-Off Overdone?
- GE Vernova’s Reservations Are Turning Into Real Orders—But the Market Still Wants More.
- Where’s the Beef? Trian-Led Buyout Proposal Values Wendy’s at $1.4B, But Is It Enough?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – 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.
