Empirical Finance LLC Trims Stake in Alphabet Inc. $GOOG

Empirical Finance LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 41.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,926 shares of the information services provider’s stock after selling 168,514 shares during the period. Alphabet comprises 3.2% of Empirical Finance LLC’s investment portfolio, making the stock its 5th largest position. Empirical Finance LLC’s holdings in Alphabet were worth $67,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet during the fourth quarter worth approximately $38,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Alphabet in the 4th quarter valued at $38,000. Imprint Wealth LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at $31,000. Bard Associates Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $41,000. Finally, Towne Trust Company N.A grew its holdings in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 2.3%

Shares of NASDAQ GOOG opened at $326.57 on Tuesday. The firm’s fifty day moving average is $359.30 and its 200 day moving average is $337.61. Alphabet Inc. has a 52 week low of $188.70 and a 52 week high of $404.47. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.96 trillion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.08 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share 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 analysts’ expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 EPS. On average, equities research analysts expect that Alphabet Inc. will post 17.25 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is currently 4.42%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. Freedom Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Truist Financial reduced their price objective on Alphabet from $430.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. KeyCorp set a $445.00 price objective on Alphabet in a report on Friday, July 10th. DA Davidson decreased their price objective on Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, July 23rd. Finally, Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Six equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $410.09.

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

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock valued at $7,672,279 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Company 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.