Oppenheimer & Co. Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 479,037 shares of the information services provider’s stock after purchasing an additional 24,745 shares during the period. Alphabet makes up approximately 1.7% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 5th largest holding. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $164,827,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Strategic Wealth Advisors LLC increased its stake 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 buying an additional 27 shares during the period. Rockbridge Investment Management LCC raised 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 in the last quarter. Ruggaard & Associates LLC raised 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 in the last quarter. Cadia Private Client LLC lifted its stake in shares of Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after acquiring an additional 28 shares during the period. Finally, Evansbrook LLC lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock worth $2,738,000 after acquiring an additional 28 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Alphabet from $425.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Zacks Research cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Truist Financial cut their target price on Alphabet from $420.00 to $410.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Pivotal Research restated a “buy” rating and issued a $475.00 target price (up from $470.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Rosenblatt Securities decreased their price target on Alphabet from $410.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $412.51.
Check Out Our Latest Research Report on GOOGL
Alphabet Trading Up 0.4%
NASDAQ:GOOGL opened at $280.03 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. Alphabet Inc. has a 1-year low of $270.70 and a 1-year high of $408.61. The firm has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. The stock has a fifty day simple moving average of $336.39 and a 200 day simple moving average of $339.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. Sell-side analysts forecast that Alphabet Inc. will post 19.86 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be issued a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 4.59%.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud revenue more than doubled year over year in the latest quarter, and its reported backlog was about $561 billion, highlighting strong enterprise demand. Read More.
- Positive Sentiment: Alphabet is in preliminary discussions related to the U.S. “Golden Dome” defense initiative. A contract could create a new, recurring revenue stream and help monetize its infrastructure investments, though no deal has been confirmed. Read More.
- Neutral Sentiment: Google plans to make its AI tools opt-in for K-12 students, responding to concerns from educators and policymakers. Reports that restricting AI could also limit Search have drawn political criticism, creating reputational risk while the company adjusts its school policies. Read More.
- Negative Sentiment: Recent earnings concerns continue to weigh on the outlook: Alphabet missed quarterly EPS expectations, Search growth slowed, and AI-generated results may produce less advertising revenue than traditional Search. ChatGPT’s search volume is also reported at roughly 20% of Google’s, underscoring competition for users. Read More.
- Negative Sentiment: Heavy AI infrastructure spending pushed free cash flow negative, and management expects capital expenditures to rise further. That raises questions about when the investment will generate sufficient returns and may help explain continued pressure on the shares after earnings. Read More.
- Negative Sentiment: Several law firms publicized an existing securities class action concerning alleged statements about Gemini 3.5 Pro training results. The repeated notices do not indicate separate new cases, but the litigation could add legal and reputational risk. Read More.
Insider Activity
In related news, Director Frances Arnold sold 83 shares of the company’s 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 transaction, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 247 shares of company stock valued at $79,238 in the last ninety days. 11.61% of the stock is owned by corporate insiders.
Alphabet Company 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.
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