GRIMES & Co WEALTH MANAGEMENT LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 130,571 shares of the information services provider’s stock after selling 2,250 shares during the quarter. Alphabet accounts for 1.1% of GRIMES & Co WEALTH MANAGEMENT LLC’s investment portfolio, making the stock its 15th biggest holding. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Alphabet were worth $44,927,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. State Street Corp grew its position in shares of Alphabet by 5.6% during the 2nd quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock valued at $85,403,303,000 after acquiring an additional 12,718,127 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Alphabet by 90.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock valued at $4,900,078,000 after buying an additional 8,112,680 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Alphabet during the third quarter worth about $1,612,704,000. Amundi lifted its holdings in Alphabet by 12.7% in the first quarter. Amundi now owns 31,745,979 shares of the information services provider’s stock valued at $9,128,850,000 after acquiring an additional 3,574,810 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $1,058,385,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $287.38 on Wednesday. The company has a fifty day simple moving average of $330.72 and a two-hundred day simple moving average of $338.55. The company has a market cap of $3.53 trillion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.23. 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 52 week low of $270.70 and a 52 week high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. As a group, equities analysts anticipate that Alphabet Inc. will post 19.81 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 4.59%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GOOGL. Yorkville Ives started coverage on Alphabet in a research note on Monday, October 5th. They set an “outperform” rating and a $400.00 price target on the stock. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Citigroup cut their price objective on Alphabet from $447.00 to $375.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Evercore reissued an “outperform” rating and set a $450.00 target price on shares of Alphabet in a research note on Wednesday, September 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Thursday, October 15th. Five investment 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. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $412.51.
Check Out Our Latest Stock Report on GOOGL
Alphabet News Summary
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Anthropic investment and cloud exposure: Google plans to invest $10 billion in Anthropic at its IPO, adding to Alphabet’s existing stake. Anthropic also has sizable Google Cloud commitments, potentially supporting cloud revenue through computing and marketplace services. Article: Anthropic’s Trillion-Dollar IPO Could Give Cloud Giants a Double Win
- Positive Sentiment: AI chips and cloud growth: Google introduced two specialized TPU variants for AI workloads, a move that could reduce reliance on outside chips and broaden Google Cloud’s appeal. Separate coverage highlighted strong Cloud revenue and improved operating margins. Article: Google broadens its AI hardware portfolio Article: Sundar Pichai Just Delivered Stunning News About Google Cloud
- Neutral Sentiment: Pixel Tag launch: Google began selling its $30 Android-compatible item tracker, expanding its consumer hardware lineup, though the immediate financial impact is unclear. Article: Pixel Tag is now available
- Negative Sentiment: AI spending and monetization concerns: Coverage framed accelerating AI investment as a risk if returns do not justify the cost. JPMorgan also removed Alphabet from its analyst focus list, citing slower AI-search monetization and substantial infrastructure spending, while retaining an Overweight rating. Article: Alphabet investors face a new reality as Google’s AI spending accelerates Article: JPMorgan Just Removed Alphabet From Its Analyst Focus List
- Negative Sentiment: Securities lawsuit: Multiple law firms publicized a pending class action alleging misrepresentations about the Gemini 3.5 Pro launch timeline. Investors have until around Dec. 1 to seek lead-plaintiff status; the allegations remain claims, not findings of liability. Article: Investors Have Opportunity to Lead Alphabet Securities Fraud Lawsuit
Insiders Place Their Bets
In related news, Director Frances Arnold sold 83 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares of the company’s stock, valued at $6,494,424.20. This represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 247 shares of company stock valued at $79,238 over the last three months. 11.61% of the stock is owned by 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.
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