Prasad Wealth Partners LLC Sells 1,744 Shares of Alphabet Inc. $GOOGL

Prasad Wealth Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,788 shares of the information services provider’s stock after selling 1,744 shares during the period. Alphabet makes up about 1.9% of Prasad Wealth Partners LLC’s holdings, making the stock its 24th largest holding. Prasad Wealth Partners LLC’s holdings in Alphabet were worth $6,755,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after buying an additional 6,733,278 shares during the last quarter. State Street Corp grew its stake in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after buying an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC raised its holdings in Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after acquiring an additional 4,224,497 shares during the period. Norges Bank acquired a new position in Alphabet during the 2nd quarter worth $21,944,208,000. Finally, Invesco Ltd. lifted its position in Alphabet by 1.2% during the 2nd quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock worth $7,780,875,000 after acquiring an additional 503,306 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Strategic cloud partnerships expanding addressable market — Google announced a deal with Sea Ltd to build AI tools for e?commerce and gaming, which supports Google Cloud revenue growth in Southeast Asia and demonstrates enterprise demand for its AI stack. Read More.
• Positive Sentiment: Product momentum — Google is rolling Gemini?powered, music?focused generative?AI features (also showing up at competitors), indicating faster consumer AI adoption that could boost engagement and future monetization. Read More.
• Positive Sentiment: Institutional support & analyst upgrades — recent 13F activity and analyst price?target increases (and MarketBeat coverage) signal long?term investor conviction that can underpin the stock. Read More.
• Neutral Sentiment: AI infrastructure arms race — NVIDIA–Meta mega?deal and hyperscaler capex plans validate AI demand but raise competitive and capital?intensity questions for Google; this is demand?positive but increases the investment bar. Read More.
• Neutral Sentiment: Alphabet exploring chip/partner strategies — WSJ reports Google is weighing ways to use its balance sheet to better compete with chip suppliers, a strategic move that could reduce long?run costs or distract management depending on execution. Read More.
• Negative Sentiment: Insider selling — recent disclosed sales by CEO Sundar Pichai and senior exec John Kent Walker (multi?million dollar sales) can sap near?term sentiment even if routine for compensation/liquidity reasons. Read More. Read More.
• Negative Sentiment: Security/legal risk — indictment of three engineers accused of stealing Google trade secrets and sending data to Iran raises potential IP, litigation and reputational risks that investors will watch. Read More.
• Negative Sentiment: AI rotation/profit?taking — some prominent managers have trimmed AI positions in recent 13F filings, which contributes to episodic pressure on hyperscaler multiples. Read More.

Insiders Place Their Bets

In other news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 47,574 shares of Alphabet stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the sale, the insider directly owned 13,227 shares of the company’s stock, valued at $3,987,279.15. This represents a 78.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,112,482 shares of company stock valued at $119,145,289 over the last quarter. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $370.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Bank of America lifted their price target on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Monday, February 16th. Canaccord Genuity Group set a $415.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Finally, Wolfe Research upped their target price on shares of Alphabet from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Three analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $365.86.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $314.98 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $349.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.81 trillion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The firm has a 50-day moving average price of $320.32 and a 200 day moving average price of $278.30.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.25. The firm had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 9th. Alphabet’s dividend payout ratio is 7.77%.

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.