Alphabet Inc. $GOOGL Shares Sold by Leuthold Group LLC

Leuthold Group LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 63,893 shares of the information services provider’s stock after selling 2,500 shares during the period. Alphabet accounts for approximately 2.3% of Leuthold Group LLC’s portfolio, making the stock its 2nd biggest holding. Leuthold Group LLC’s holdings in Alphabet were worth $22,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Provident Wealth Management LLC boosted its stake in Alphabet by 159.1% during the 2nd quarter. Provident Wealth Management LLC now owns 1,798 shares of the information services provider’s stock worth $643,000 after purchasing an additional 1,104 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of Alphabet by 0.7% in the second quarter. Chilton Capital Management LLC now owns 102,932 shares of the information services provider’s stock valued at $36,785,000 after buying an additional 711 shares during the last quarter. River Wealth Advisors LLC raised its position in shares of Alphabet by 2.6% in the second quarter. River Wealth Advisors LLC now owns 104,472 shares of the information services provider’s stock valued at $37,335,000 after buying an additional 2,600 shares during the last quarter. BCGM Wealth Management LLC lifted its stake in shares of Alphabet by 4.3% in the second quarter. BCGM Wealth Management LLC now owns 4,463 shares of the information services provider’s stock worth $1,595,000 after buying an additional 183 shares in the last quarter. Finally, RHL Group LLC lifted its stake in shares of Alphabet by 51.0% in the second quarter. RHL Group LLC now owns 545 shares of the information services provider’s stock worth $195,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Insiders have sold 451,945 shares of company stock worth $12,382,714 over the last quarter. 11.61% of the stock is currently owned by corporate insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOGL shares. BNP Paribas Exane upped their price objective on shares of Alphabet from $390.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. New Street Research raised their target price on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Oppenheimer raised their target price on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Citigroup restated an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research report on Monday, June 22nd. Six research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $420.19.

Alphabet Stock Performance

Shares of GOOGL opened at $344.82 on Monday. Alphabet Inc. has a 12-month low of $201.30 and a 12-month high of $408.61. The firm has a market capitalization of $4.22 trillion, a P/E ratio of 17.32, a P/E/G ratio of 0.97 and a beta of 1.24. The firm has a 50-day moving average price of $352.00 and a 200 day moving average price of $341.35. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Sell-side analysts forecast that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders 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 dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.42%.

Alphabet Company Profile

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.