Alphabet Inc. $GOOG Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,233 shares of the information services provider’s stock after selling 9,914 shares during the period. Alphabet makes up about 1.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 16th largest position. Riverbridge Partners LLC’s holdings in Alphabet were worth $61,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Alphabet by 1.4% during the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock valued at $130,704,718,000 after purchasing an additional 5,164,200 shares in the last quarter. State Street Corp grew its stake in shares of Alphabet by 2.8% in the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock worth $67,458,980,000 after purchasing an additional 5,208,690 shares during the last quarter. Amundi raised its holdings in shares of Alphabet by 22.9% in the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock worth $6,288,654,000 after purchasing an additional 4,083,758 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Alphabet by 5.6% in the 2nd quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider’s stock worth $6,117,460,000 after purchasing an additional 913,666 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Alphabet by 24.9% in the 2nd quarter. Wellington Management Group LLP now owns 17,209,454 shares of the information services provider’s stock worth $6,080,616,000 after purchasing an additional 3,432,287 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Frances Arnold sold 83 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 247 shares of company stock worth $79,238 in the last quarter. 12.99% of the stock is owned by insiders.

Top Alphabet Stories

Here are a few of the latest stories about GOOG:

• Positive Sentiment: Google and Samsung are preparing AI smart glasses for sale next month, while Google is also extending Gemini into Apple CarPlay. These launches could broaden Gemini’s reach across devices and platforms. Google and Samsung launch AI glasses pre-orders
• Neutral Sentiment: Alphabet’s cloud growth and cash generation remain part of the investment case, but commentary also flags the cost of its AI infrastructure expansion as a risk to cash flow and returns. 3 Unstoppable Dow Stocks to Buy in November
• Negative Sentiment: Alphabet faces a securities class action alleging investors were misled about Gemini 3.5 Pro’s expected launch and training results. The claims are allegations, but the case adds legal and reputational risk. Alphabet shareholder alert regarding securities lawsuit

Alphabet Trading Up 1.6%

Shares of GOOG opened at $295.35 on Friday. The business’s 50-day moving average price is $326.04 and its 200 day moving average price is $336.19. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.63 trillion, a P/E ratio of 15.41, a P/E/G ratio of 0.88 and a beta of 1.21. Alphabet Inc. has a 1-year low of $271.41 and a 1-year high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.89). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The firm had revenue of $127.58 billion for the quarter, compared to analysts’ expectations of $127.97 billion. During the same period in the prior year, the company posted $2.87 earnings per share. Alphabet’s quarterly revenue was up 24.7% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 19.74 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 4.59%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent research reports. KeyCorp reissued an “overweight” rating and set a $385.00 target price on shares of Alphabet in a research note on Thursday, October 29th. HSBC set a $515.00 price target on shares of Alphabet in a research report on Friday, August 14th. China Renaissance dropped their price target on Alphabet from $485.00 to $445.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Alphabet in a research report on Thursday, October 29th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, October 27th. Six investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.38.

Alphabet Company Profile

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.