Torray Investment Partners LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 42,919 shares of the information services provider’s stock after selling 2,174 shares during the period. Alphabet accounts for approximately 1.9% of Torray Investment Partners LLC’s portfolio, making the stock its 25th largest holding. Torray Investment Partners LLC’s holdings in Alphabet were worth $14,768,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Garner Asset Management Corp grew its stake in shares of Alphabet by 1.5% during the 3rd quarter. Garner Asset Management Corp now owns 6,252 shares of the information services provider’s stock valued at $1,981,000 after buying an additional 93 shares during the period. Bauman Advisory Group LLC grew its position in Alphabet by 4.0% during the third quarter. Bauman Advisory Group LLC now owns 2,341 shares of the information services provider’s stock valued at $805,000 after acquiring an additional 89 shares during the period. Garde Capital Inc. lifted its stake in shares of Alphabet by 0.4% in the 3rd quarter. Garde Capital Inc. now owns 53,110 shares of the information services provider’s stock valued at $18,274,000 after purchasing an additional 214 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its stake in shares of Alphabet by 2.1% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 58,795 shares of the information services provider’s stock valued at $20,230,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Elevate Wealth Advisory Inc. grew its holdings in shares of Alphabet by 14.1% during the 3rd quarter. Elevate Wealth Advisory Inc. now owns 1,043 shares of the information services provider’s stock worth $359,000 after purchasing an additional 129 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
More Alphabet News
These are some of the GOOGL news items that stood out recently:
- Positive Sentiment: Google launched Gemini for healthcare, extending Alphabet’s AI offerings into a specialized market. The news adds to the company’s efforts to turn AI development into commercial opportunities. Article: Alphabet Launches Gemini For Healthcare
- Positive Sentiment: Google’s Gemini 4 Carbon scored near the top in an accounting AI benchmark, with Gemini 4 Argon ranking first. Strong results may support adoption of Google’s AI tools by businesses. Article: Google Now Has Two of the Top AI Models for Accounting Work
- Neutral Sentiment: Alphabet is reportedly planning its first bond sale in Hong Kong and Singapore, potentially raising about $3 billion. The sale could broaden funding sources for the company’s investments, while adding to investor focus on financing costs and AI spending. Article: Alphabet eyes $3 billion Hong Kong, Singapore bond sale
Analysts Set New Price Targets
A number of equities analysts have recently commented on GOOGL shares. Moffett Nathanson set a $345.00 target price on shares of Alphabet in a research note on Thursday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, October 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Alphabet in a research report on Thursday, October 29th. UBS Group set a $332.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 29th. Finally, Yorkville Ives assumed coverage on shares of Alphabet in a research note on Monday, October 5th. They set an “outperform” rating and a $400.00 price target on the stock. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $412.51.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Alphabet stock opened at $293.45 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. Alphabet Inc. has a 12 month low of $270.70 and a 12 month high of $408.61. The company has a fifty day moving average price of $329.89 and a two-hundred day moving average price of $338.38. The company has a market cap of $3.61 trillion, a PE ratio of 15.32, a P/E/G ratio of 0.87 and a beta of 1.23.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly 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 net margin of 50.03% and a return on equity of 43.33%. The business had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. Research analysts expect that Alphabet Inc. will post 19.81 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 4.59%.
Insider Activity at Alphabet
In related news, Director Frances Arnold sold 83 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the sale, the director owned 19,076 shares of the company’s stock, valued at $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 247 shares of company stock worth $79,238 in the last three months. 11.61% of the stock is currently owned by corporate insiders.
Alphabet Profile
Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.
Read More
- Five stocks we like better than Alphabet
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
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.
