Vancity Investment Management Ltd Has $46.86 Million Stake in Alphabet Inc. $GOOG

Vancity Investment Management Ltd trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,631 shares of the information services provider’s stock after selling 17,196 shares during the period. Alphabet accounts for 7.0% of Vancity Investment Management Ltd’s portfolio, making the stock its 2nd largest holding. Vancity Investment Management Ltd’s holdings in Alphabet were worth $46,863,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Readystate Asset Management LP purchased a new position in shares of Alphabet during the second quarter valued at about $45,352,000. BlackRock Inc. increased its holdings in shares of Alphabet by 1.4% in the second quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after purchasing an additional 5,164,200 shares during the last quarter. State Street Corp lifted its position in shares of Alphabet by 0.5% in the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after buying an additional 953,790 shares in the last quarter. Auto Owners Insurance Co lifted its position in shares of Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after buying an additional 179,369,280 shares in the last quarter. Finally, J. Stern & Co. LLP boosted its stake in Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after buying an additional 111,699,704 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $337.71, for a total value of $27,692.22. Following the completion of the sale, the director owned 18,995 shares in the company, valued at approximately $6,414,801.45. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The SEC filing for this sale provides additional information. Insiders sold a total of 451,925 shares of company stock worth $12,371,544 over the last three months. 12.99% of the stock is owned by insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet announced a partnership with Morgan State University to establish an AI campus, potentially expanding long-term talent development, research access and adoption of Google Cloud and Gemini. Alphabet Morgan State University AI partnership
• Positive Sentiment: Google launched a dedicated Gemini app for Windows PCs, making its AI assistant more accessible and increasing the opportunity to drive usage across consumer devices and services. Gemini Windows app
• Positive Sentiment: Alphabet’s planned €13 billion investment in Finnish AI infrastructure, alongside a long-term agreement to purchase power from a nuclear plant, could provide reliable, lower-cost electricity for data centers and support Gemini, Search, Maps and YouTube. Google Finland AI infrastructure investment
• Positive Sentiment: Analysts and investment commentary continue to highlight Alphabet’s cloud growth, more than 20% revenue growth and strong recent earnings as evidence that the company can fund substantial AI investment while maintaining attractive profitability. Alphabet return on invested capital and cloud growth
• Neutral Sentiment: Reported short interest was listed at zero shares, unchanged from the prior report, so the data provide no meaningful evidence of short-covering pressure or growing bearish positioning.
• Negative Sentiment: Investors remain focused on the cost of Alphabet’s AI buildout. Estimates that AI capital expenditures could reach roughly $200 billion have raised concerns about pressure on free cash flow, even though the stock’s valuation is viewed as reasonable. Alphabet AI capital expenditures
• Negative Sentiment: Meta’s new Muse AI agent has renewed concerns that autonomous assistants could bypass traditional search pages and reduce Google search advertising opportunities. ARK Invest’s decision to sell approximately $28 million of Alphabet and buy Meta added to the competitive sentiment. Meta Muse competition
• Negative Sentiment: Potential regulation could increase infrastructure costs: proposed U.S. legislation would require large data-center users to pay the full incremental cost of power-grid upgrades, while Finnish officials have warned that Google’s expansion could strain electricity supply. Data Center Fair Share Act

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. JPMorgan Chase & Co. cut their price target on Alphabet from $460.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Thursday, July 23rd. BMO Capital Markets increased their target price on Alphabet from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Barclays reissued an “overweight” rating and issued a $425.00 target price (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, Canaccord Genuity Group set a $450.00 price target on shares of Alphabet in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average price target of $415.55.

Alphabet Trading Up 0.6%

Shares of NASDAQ GOOG opened at $330.39 on Friday. Alphabet Inc. has a 1-year low of $236.58 and a 1-year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The business’s 50 day moving average is $345.18 and its two-hundred day moving average is $341.69. The stock has a market capitalization of $4.04 trillion, a P/E ratio of 16.59, a PEG ratio of 0.95 and a beta of 1.21.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $6.24. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the company earned $2.31 EPS. As a group, research analysts expect that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.42%.

About Alphabet

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.

Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.