New York Life Investment Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 706,571 shares of the information services provider’s stock after acquiring an additional 4,742 shares during the period. Alphabet accounts for 1.6% of New York Life Investment Management LLC’s holdings, making the stock its 13th largest position. New York Life Investment Management LLC’s holdings in Alphabet were worth $240,757,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Alphabet by 1.4% in the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock valued at $130,704,718,000 after buying an additional 5,164,200 shares in the last quarter. State Street Corp increased its position in Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock worth $67,458,980,000 after buying an additional 5,208,690 shares during the period. Amundi lifted its holdings in shares of Alphabet by 22.9% during the first quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock worth $6,288,654,000 after buying an additional 4,083,758 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Alphabet by 5.6% during the second quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider’s stock worth $6,117,460,000 after buying an additional 913,666 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Alphabet by 24.9% during the second quarter. Wellington Management Group LLP now owns 17,209,454 shares of the information services provider’s stock worth $6,080,616,000 after buying an additional 3,432,287 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. New Street Research reduced their target price on shares of Alphabet from $455.00 to $405.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 29th. HSBC set a $515.00 price objective on shares of Alphabet in a research note on Friday, August 14th. Moffett Nathanson dropped their price objective on shares of Alphabet from $380.00 to $370.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a report on Thursday, October 29th. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.38.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Alphabet stock opened at $290.63 on Thursday. The stock’s fifty day moving average price is $326.81 and its two-hundred day moving average price is $336.38. Alphabet Inc. has a one year low of $271.41 and a one year high of $404.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. The firm has a market cap of $3.57 trillion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. Alphabet’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.87 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 19.74 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be given a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 4.59%.
Insider Activity at Alphabet
In related news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the transaction, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 247 shares of company stock valued at $79,238 in the last quarter. 12.99% of the stock is currently owned by company insiders.
Alphabet News Roundup
Investors following GOOG have been watching these news items:
- Positive Sentiment: Google unveiled two new Tensor Processing Units aimed at agentic AI and confidential enterprise computing. The chips broaden Alphabet’s in-house hardware offering and could reduce reliance on outside processors. Article: Alphabet Edged Higher After Revealing New TPUs
- Neutral Sentiment: Alphabet is exploring up to $3 billion in its first Hong Kong- and Singapore-dollar bond offerings. The financing could diversify funding sources, though it adds debt obligations. Article: Alphabet explores first Hong Kong and Singapore dollar bond sales
- Negative Sentiment: Despite the new TPU announcements, one report flags cash flow as a larger challenge for GOOG, highlighting investor concern about the cost of funding AI infrastructure and expansion. Article: Alphabet Edged Higher After Revealing New TPUs
About Alphabet
Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.
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