NewEdge Wealth LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,520 shares of the information services provider’s stock after acquiring an additional 11,120 shares during the period. NewEdge Wealth LLC’s holdings in Alphabet were worth $46,470,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the 4th quarter worth $38,000. Imprint Wealth LLC bought a new position in shares of Alphabet in the 3rd quarter worth $31,000. Bard Associates Inc. acquired a new stake in Alphabet in the 4th quarter valued at $41,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in Alphabet in the 4th quarter valued at $45,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently issued reports on GOOG shares. Rosenblatt Securities began coverage on shares of Alphabet in a report on Thursday, August 20th. They set a “buy” rating for the company. Raymond James Financial restated a “strong-buy” rating on shares of Alphabet in a report on Thursday, July 23rd. Morgan Stanley cut their price target on Alphabet from $415.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Truist Financial lowered their price objective on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Zacks Research lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Six research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $415.55.
Insider Buying and Selling
In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 451,945 shares of company stock worth $12,382,714 in the last 90 days. 12.99% of the stock is owned by company insiders.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Enterprise AI expansion: Google launched Gemini Enterprise solutions for financial-services companies and law firms, including specialized agents, workflow tools, data connectors and third-party integrations. The products could support Google Cloud growth and deepen Alphabet’s competition with Microsoft, OpenAI and Anthropic in high-value enterprise markets. Google expands Gemini AI platform for law firms and lawyers
- Positive Sentiment: Waymo moves into Europe: Alphabet’s autonomous-driving unit will begin testing vehicles in Munich and plans to launch commercial driverless rides in Germany in 2027. Germany would be Waymo’s first European market and its third international market, expanding a potential long-term growth business. Waymo to launch driverless rides in Germany in 2027
- Positive Sentiment: AI infrastructure optimism: Reports that Google’s TPU shipments could nearly triple to 8.8 million by 2027 reinforce expectations that Alphabet can reduce reliance on Nvidia and potentially expand Google Cloud’s AI capacity and margins. Analysts and investment commentary also highlighted strong Cloud growth, improving profitability and continued Search and YouTube momentum. Google TPU volume could triple to 8.8 million by 2027
- Neutral Sentiment: Mixed market signals: U.S. consumer-confidence and new-home-sales misses pressured the broader market, while reports of billionaire and institutional interest in Alphabet provided a counterweight. A reported increase in short interest was not meaningful because the filing showed zero shares in both periods.
- Negative Sentiment: Investor investigation: Pomerantz LLP said it is investigating potential claims on behalf of Alphabet investors. The notice provided no substantive allegations, but securities-law investigations can add headline and litigation risk. Pomerantz investor alert
- Negative Sentiment: Capital-allocation concerns: Commentary flagged potentially negative free cash flow as Alphabet spends heavily on AI infrastructure. Separately, Virginia Retirement Systems reportedly reduced its GOOGL position by about 33%, an isolated institutional-selling signal that may weigh on sentiment.
Alphabet Stock Down 0.4%
GOOG opened at $343.34 on Wednesday. Alphabet Inc. has a 12 month low of $206.39 and a 12 month high of $404.47. The company has a market cap of $4.20 trillion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.97 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $349.34 and a 200 day moving average of $339.79.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The business’s quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Dividend Announcement
The business 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. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.42%.
Alphabet Profile
Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.
Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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