Alphabet Inc. $GOOGL Holdings Increased by DV Trading LLC

DV Trading LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 139,012.2% in the 1st quarter, Holdings Channel reports. The firm owned 466,026 shares of the information services provider’s stock after purchasing an additional 465,691 shares during the quarter. Alphabet accounts for 3.2% of DV Trading LLC’s holdings, making the stock its 2nd biggest holding. DV Trading LLC’s holdings in Alphabet were worth $134,010,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Alphabet during the 4th quarter valued at about $30,534,239,000. Cardano Risk Management B.V. boosted its position in Alphabet by 855.3% in the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after buying an additional 13,004,828 shares during the period. Vanguard Group Inc. boosted its position in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares during the period. Capital World Investors grew its stake in Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after acquiring an additional 11,605,785 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its stake in Alphabet by 28,950.0% in the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock worth $2,671,986,000 after acquiring an additional 9,259,940 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 600,547 shares of company stock worth $16,255,540 in the last three months. Corporate insiders own 11.61% of the company’s stock.

Alphabet Trading Down 1.0%

NASDAQ:GOOGL opened at $354.30 on Friday. Alphabet Inc. has a one year low of $196.60 and a one year high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The firm has a market cap of $4.33 trillion, a P/E ratio of 17.80, a P/E/G ratio of 0.99 and a beta of 1.24. The firm has a 50-day simple moving average of $355.68 and a 200-day simple moving average of $340.41.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Equities analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

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 issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is currently 4.42%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOOGL shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. BMO Capital Markets set a $465.00 price target on Alphabet and gave the company an “outperform” rating in a report on Thursday, July 23rd. Pivotal Research reissued a “buy” rating and issued a $475.00 price objective (up from $470.00) on shares of Alphabet in a research note on Thursday, July 23rd. Sanford C. Bernstein restated a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, June 22nd. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus price target of $419.86.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.