Corient Private Wealth LP lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,048,951 shares of the information services provider’s stock after purchasing an additional 687,967 shares during the period. Alphabet makes up about 2.4% of Corient Private Wealth LP’s investment portfolio, making the stock its 6th biggest position. Corient Private Wealth LP’s holdings in Alphabet were worth $1,783,942,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its position in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Alphabet by 76.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after acquiring an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Alphabet during the second quarter worth $658,000. Financial Advisors Network Inc. lifted its stake in shares of Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. lifted its stake in shares of Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares during the period. 27.26% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GOOG. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Friday, July 17th. Wells Fargo & Company cut their target price on shares of Alphabet from $418.00 to $411.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Roth Capital upped their target price on shares of Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. TD Cowen reaffirmed a “buy” rating and issued a $475.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Finally, Rosenblatt Securities started coverage on shares of Alphabet in a research report on Thursday, August 20th. They set a “buy” rating for the company. Six analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $415.55.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet announced a partnership with Morgan State University to establish an AI campus, potentially expanding long-term talent development, research access and adoption of Google Cloud and Gemini. Alphabet Morgan State University AI partnership
- Positive Sentiment: Google launched a dedicated Gemini app for Windows PCs, making its AI assistant more accessible and increasing the opportunity to drive usage across consumer devices and services. Gemini Windows app
- Positive Sentiment: Alphabet’s planned €13 billion investment in Finnish AI infrastructure, alongside a long-term agreement to purchase power from a nuclear plant, could provide reliable, lower-cost electricity for data centers and support Gemini, Search, Maps and YouTube. Google Finland AI infrastructure investment
- Positive Sentiment: Analysts and investment commentary continue to highlight Alphabet’s cloud growth, more than 20% revenue growth and strong recent earnings as evidence that the company can fund substantial AI investment while maintaining attractive profitability. Alphabet return on invested capital and cloud growth
- Neutral Sentiment: Reported short interest was listed at zero shares, unchanged from the prior report, so the data provide no meaningful evidence of short-covering pressure or growing bearish positioning.
- Negative Sentiment: Investors remain focused on the cost of Alphabet’s AI buildout. Estimates that AI capital expenditures could reach roughly $200 billion have raised concerns about pressure on free cash flow, even though the stock’s valuation is viewed as reasonable. Alphabet AI capital expenditures
- Negative Sentiment: Meta’s new Muse AI agent has renewed concerns that autonomous assistants could bypass traditional search pages and reduce Google search advertising opportunities. ARK Invest’s decision to sell approximately $28 million of Alphabet and buy Meta added to the competitive sentiment. Meta Muse competition
- Negative Sentiment: Potential regulation could increase infrastructure costs: proposed U.S. legislation would require large data-center users to pay the full incremental cost of power-grid upgrades, while Finnish officials have warned that Google’s expansion could strain electricity supply. Data Center Fair Share Act
Insider Transactions at Alphabet
In related news, insider Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 451,925 shares of company stock valued at $12,371,544 over the last three months. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Trading Up 0.6%
Shares of NASDAQ GOOG opened at $330.39 on Friday. The company’s fifty day moving average is $345.18 and its 200-day moving average is $341.69. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.04 trillion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.95 and a beta of 1.21. Alphabet Inc. has a twelve month low of $236.58 and a twelve month high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly 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 company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 20.5 EPS for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 4.42%.
About Alphabet
Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.
Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.
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