Alphabet Inc. $GOOG Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 1st quarter, HoldingsChannel reports. The firm owned 818,534 shares of the information services provider’s stock after selling 34,572 shares during the quarter. Alphabet accounts for 4.6% of Cannell & Spears LLC’s portfolio, making the stock its 2nd largest holding. Cannell & Spears LLC’s holdings in Alphabet were worth $231,846,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GOOG. Brighton Jones LLC lifted its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after acquiring an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Alphabet during the second quarter valued at approximately $658,000. Financial Advisors Network Inc. raised its position in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after purchasing an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. lifted its position in shares of Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after buying an additional 3,616 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.3%

GOOG opened at $326.57 on Tuesday. Alphabet Inc. has a twelve month low of $188.70 and a twelve month high of $404.47. The company has a fifty day moving average of $359.30 and a 200-day moving average of $337.61. The stock has a market cap of $3.96 trillion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $116.53 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 17.25 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given 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 is presently 4.42%.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,415 shares of company stock worth $7,672,279 over the last quarter. 12.99% of the stock is owned by company insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Rosenblatt Securities set a $393.00 target price on shares of Alphabet in a research report on Thursday. Pivotal Research increased their target price on Alphabet from $470.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group restated a “buy” rating and set a $450.00 price target on shares of Alphabet in a report on Thursday, May 21st. Roth Capital increased their price objective on Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Scotiabank restated an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $410.09.

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.