Alphabet Inc. $GOOG is Triad Investment Management’s 2nd Largest Position

Triad Investment Management lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 25.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 14,879 shares of the information services provider’s stock after selling 5,152 shares during the quarter. Alphabet comprises approximately 5.9% of Triad Investment Management’s investment portfolio, making the stock its 2nd biggest position. Triad Investment Management’s holdings in Alphabet were worth $5,257,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AG Asset Advisory LLC acquired a new position in Alphabet in the 2nd quarter valued at $363,000. Insight Wealth Partners LLC boosted its position in Alphabet by 43.0% during the second quarter. Insight Wealth Partners LLC now owns 1,037 shares of the information services provider’s stock worth $367,000 after acquiring an additional 312 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Alphabet by 2.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 216,923 shares of the information services provider’s stock valued at $76,645,000 after acquiring an additional 5,875 shares in the last quarter. RFG Advisory LLC grew its stake in Alphabet by 6.7% during the 2nd quarter. RFG Advisory LLC now owns 41,211 shares of the information services provider’s stock valued at $14,561,000 after acquiring an additional 2,585 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Alphabet by 7.6% in the 2nd quarter. NewEdge Advisors LLC now owns 769,336 shares of the information services provider’s stock valued at $271,829,000 after acquiring an additional 54,291 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $335.45 on Friday. The firm has a market capitalization of $4.10 trillion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21. The business’s fifty day moving average price is $344.76 and its 200 day moving average price is $341.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 12 month low of $236.68 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same period in the previous year, the business earned $2.31 EPS. Alphabet’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.52 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid 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 payout ratio is currently 4.42%.

Insider Activity

In other Alphabet news, 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 transaction of $2,232,808.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 82 shares of the stock in a transaction on 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 represents a 0.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 451,925 shares of company stock valued at $12,371,544. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $475.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a research report on Wednesday, May 20th. Piper Sandler reiterated an “overweight” rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on Alphabet from $460.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $415.55.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Alphabet Company Profile

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.