Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,791,376 shares of the information services provider’s stock after selling 29,382 shares during the period. Alphabet makes up about 9.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $960,457,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of GOOGL. Holos Integrated Wealth LLC increased its position in shares of Alphabet by 40.1% in the third quarter. Holos Integrated Wealth LLC now owns 1,485 shares of the information services provider’s stock valued at $511,000 after acquiring an additional 425 shares during the last quarter. Townsend & Associates Inc raised its holdings in Alphabet by 1.3% during the third quarter. Townsend & Associates Inc now owns 6,583 shares of the information services provider’s stock worth $2,242,000 after acquiring an additional 83 shares in the last quarter. Aries Wealth Management boosted its position in Alphabet by 0.4% during the third quarter. Aries Wealth Management now owns 32,871 shares of the information services provider’s stock valued at $11,310,000 after purchasing an additional 130 shares during the last quarter. Tower View Wealth Management LLC boosted its position in Alphabet by 7.2% during the third quarter. Tower View Wealth Management LLC now owns 19,661 shares of the information services provider’s stock valued at $6,765,000 after purchasing an additional 1,329 shares during the last quarter. Finally, Slow Capital Inc. boosted its position in Alphabet by 0.3% during the third quarter. Slow Capital Inc. now owns 106,807 shares of the information services provider’s stock valued at $36,750,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, October 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $385.00 price objective on shares of Alphabet in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, October 29th. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Susquehanna dropped their price target on shares of Alphabet from $460.00 to $400.00 and set a “positive” rating on the stock in a research report 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 assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $412.51.
Read Our Latest Report on Alphabet
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud and AI demand remain important growth drivers. Google Cloud revenue reportedly nearly doubled year over year to approximately $30.7 billion, while its backlog approached $561 billion. Analysts and bullish commentators argue that enterprise AI usage could eventually justify Alphabet’s infrastructure spending. Alphabet’s Cloud and AI outlook
- Positive Sentiment: Potential defense and cybersecurity contracts could diversify revenue. Alphabet is reportedly in preliminary discussions related to the Pentagon’s roughly $185 billion Golden Dome initiative. A finalized agreement could help monetize its AI infrastructure through sticky government and enterprise contracts, although no deal has been confirmed. Alphabet and Pentagon discussions
- Positive Sentiment: Debt-market demand suggests lenders remain confident in Alphabet. The company launched a roughly €6 billion bond sale, with reported orders substantially exceeding the amount offered. The financing provides additional capital for data centers, though it also highlights the scale of Alphabet’s spending needs. Alphabet bond sale
- Neutral Sentiment: Analysts and investors are divided. Some view the selloff as a valuation opportunity because Alphabet’s shares appear inexpensive relative to its growth potential, while others prefer to see evidence that AI spending is producing stronger cash returns.
- Negative Sentiment: AI spending is pressuring cash flow. Capital expenditures on chips, data centers and related infrastructure reportedly pushed free cash flow negative by about $9.1 billion for a second consecutive quarter. Management also expects spending to remain elevated, raising concerns about returns on invested capital and the need for external financing. Alphabet AI spending concerns
- Negative Sentiment: Core search growth and quarterly profitability disappointed. Search revenue reportedly grew about 12% to approximately $63 billion, as AI-generated answers threaten traditional advertising and user clicks. Alphabet also reported quarterly EPS of $2.12 versus a $3.02 consensus estimate, reinforcing fears that AI may disrupt its highest-margin business before new revenue streams mature.
- Negative Sentiment: Legal overhang has increased. Several law firms publicized securities class-action deadlines for investors who purchased Alphabet shares between May 19 and July 16, alleging undisclosed adverse information. The announcements may weigh on sentiment, although they do not establish liability. Alphabet securities lawsuit notice
Insiders Place Their Bets
In other Alphabet news, Director Frances Arnold sold 83 shares of the firm’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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 247 shares of company stock valued at $79,238. 11.61% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
NASDAQ:GOOGL opened at $278.99 on Tuesday. 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’s 50 day moving average price is $337.75 and its two-hundred day moving average price is $339.89. The firm has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.94 and a beta of 1.21. Alphabet Inc. has a 12-month low of $270.70 and a 12-month high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data 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 business had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. On average, analysts anticipate that Alphabet Inc. will post 20.05 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio is 4.59%.
About Alphabet
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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