Oppenheimer & Co. Inc. Buys 24,745 Shares of Alphabet Inc. $GOOGL

Oppenheimer & Co. Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 479,037 shares of the information services provider’s stock after buying an additional 24,745 shares during the quarter. Alphabet accounts for approximately 1.7% of Oppenheimer & Co. Inc.’s holdings, making the stock its 5th largest holding. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $164,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Wealth Advisors LLC raised its stake in shares of Alphabet by 6.0% during the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 27 shares during the period. Rockbridge Investment Management LCC boosted its stake in shares of Alphabet by 0.5% in the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock valued at $1,570,000 after purchasing an additional 27 shares during the period. Ruggaard & Associates LLC boosted its stake in shares of Alphabet by 0.9% in the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock valued at $840,000 after purchasing an additional 27 shares during the period. Cadia Private Client LLC boosted its stake in shares of Alphabet by 1.1% in the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock valued at $744,000 after purchasing an additional 28 shares during the period. Finally, Evansbrook LLC grew its holdings in Alphabet by 0.3% during the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock valued at $2,738,000 after purchasing an additional 28 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOGL opened at $280.03 on Wednesday. The firm has a market cap of $3.42 trillion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.84 and a beta of 1.23. The stock has a 50 day moving average of $336.39 and a 200-day moving average of $339.61. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. Alphabet Inc. has a 52 week low of $270.70 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The firm had revenue of $127.58 billion for the quarter, compared to analyst estimates of $127.96 billion. As a group, analysts forecast that Alphabet Inc. will post 19.86 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.59%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 83 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 247 shares of company stock valued at $79,238 in the last three months. Insiders own 11.61% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue more than doubled year over year in the latest quarter, and its reported backlog was about $561 billion, highlighting strong enterprise demand. Read More.
• Positive Sentiment: Alphabet is in preliminary discussions related to the U.S. “Golden Dome” defense initiative. A contract could create a new, recurring revenue stream and help monetize its infrastructure investments, though no deal has been confirmed. Read More.
• Neutral Sentiment: Google plans to make its AI tools opt-in for K-12 students, responding to concerns from educators and policymakers. Reports that restricting AI could also limit Search have drawn political criticism, creating reputational risk while the company adjusts its school policies. Read More.
• Negative Sentiment: Recent earnings concerns continue to weigh on the outlook: Alphabet missed quarterly EPS expectations, Search growth slowed, and AI-generated results may produce less advertising revenue than traditional Search. ChatGPT’s search volume is also reported at roughly 20% of Google’s, underscoring competition for users. Read More.
• Negative Sentiment: Heavy AI infrastructure spending pushed free cash flow negative, and management expects capital expenditures to rise further. That raises questions about when the investment will generate sufficient returns and may help explain continued pressure on the shares after earnings. Read More.
• Negative Sentiment: Several law firms publicized an existing securities class action concerning alleged statements about Gemini 3.5 Pro training results. The repeated notices do not indicate separate new cases, but the litigation could add legal and reputational risk. Read More.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOGL shares. Barclays reiterated an “overweight” rating and issued a $405.00 price objective (down from $425.00) on shares of Alphabet in a report on Thursday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Thursday, October 15th. DA Davidson dropped their target price on Alphabet from $350.00 to $300.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Citigroup cut their price target on Alphabet from $447.00 to $375.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, Royal Bank Of Canada reduced their price target on Alphabet from $425.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $412.51.

Alphabet Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.