Alphabet Inc. $GOOG Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,399,060 shares of the information services provider’s stock after selling 321,850 shares during the period. Alphabet accounts for about 1.1% of Primecap Management Co. CA’s holdings, making the stock its 21st largest holding. Primecap Management Co. CA’s holdings in Alphabet were worth $1,907,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new position in shares of Alphabet in the second quarter valued at $29,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet in the 4th quarter valued at about $38,000. Imprint Wealth LLC acquired a new stake in Alphabet in the 3rd quarter valued at about $31,000. Finally, Bard Associates Inc. purchased a new position in Alphabet during the 4th quarter valued at about $41,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOG shares. Wolfe Research restated an “outperform” rating on shares of Alphabet in a research report on Thursday. Morgan Stanley lowered their price target on shares of Alphabet from $415.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Oppenheimer reissued an “outperform” rating and set a $400.00 price objective (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Wedbush began coverage on Alphabet in a research report on Thursday, July 16th. They set an “outperform” rating and a $445.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $475.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $415.55.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts remain constructive on Alphabet’s outlook. Citizens analyst Andrew Boone expects the stock to reach a new all-time high over the next year, while recent GOOG targets have a median of $455, well above recent trading levels. Wall Street analyst sets Google price target
• Positive Sentiment: Alphabet’s record cloud growth, Gemini development and expanding AI infrastructure continue to support the bullish case. Investors are debating whether the company’s large AI spending program will produce durable growth, but some analysts view the recent pullback as an opportunity. One Mag 7 stock to watch
• Positive Sentiment: Meta- and Google-backed Jio Platforms received regulatory approval for an Indian IPO, potentially creating value for Alphabet’s investment and increasing visibility into one of its strategic holdings. Jio Platforms receives IPO approval
• Neutral Sentiment: Director Frances Arnold sold 82 shares for approximately $27,700, reducing her position by only 0.43%. The small transaction is unlikely to materially change Alphabet’s investment outlook, though broader insider activity has consisted entirely of sales during the past six months. Alphabet SEC insider filing
• Negative Sentiment: Investors are increasingly concerned that Meta’s AI-powered advertising products could challenge Google Search’s advertising dominance. OpenAI’s reported $1 billion advertising run rate adds to fears that competition for digital-ad budgets is intensifying. Bernstein warns on Meta competition
• Negative Sentiment: Regulatory pressure remains a major overhang. Google avoided a potential European penalty by changing search rules, while a £260 million U.K. app-store settlement adds another direct cost and highlights continuing scrutiny of its business practices. Google changes European search rules
• Negative Sentiment: Alphabet’s aggressive AI capital expenditures are raising concerns about free-cash-flow pressure and future margins, particularly as investors compare its spending strategy with Amazon’s. Alphabet and Amazon AI capital spending
• Negative Sentiment: Google Maps’ decision to display “Lake America” for U.S. users has triggered backlash in Canada, creating reputational and political risk, although the immediate financial impact appears limited. Google Maps Lake America controversy

Insider Activity

In other Alphabet news, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $337.71, for a total value of $27,692.22. Following the sale, the director directly owned 18,995 shares of the company’s stock, valued at approximately $6,414,801.45. This trade represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 451,925 shares of company stock valued at $12,371,544 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.2%

Shares of GOOG stock opened at $335.41 on Tuesday. The company has a market capitalization of $4.10 trillion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.96 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $347.52 and a 200 day moving average price of $340.20. Alphabet Inc. has a twelve month low of $206.96 and a twelve month high of $404.47.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $116.53 billion. During the same period last year, the company earned $2.31 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.