Alphabet Inc. $GOOG Stock Sold by Steinberganna Wealth Management

Steinberganna Wealth Management trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 53.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,046 shares of the information services provider’s stock after selling 4,675 shares during the quarter. Steinberganna Wealth Management’s holdings in Alphabet were worth $1,379,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Readystate Asset Management LP acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $45,352,000. BlackRock Inc. lifted its position in shares of Alphabet by 1.4% during the second quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after purchasing an additional 5,164,200 shares during the last quarter. State Street Corp lifted its position in shares of Alphabet by 2.8% during the second quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock worth $67,458,980,000 after purchasing an additional 5,208,690 shares during the last quarter. Amundi lifted its position 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 purchasing an additional 4,083,758 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Alphabet by 5.6% in 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 purchasing an additional 913,666 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.6%

Shares of NASDAQ:GOOG opened at $321.89 on Thursday. The stock has a market capitalization of $3.94 trillion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. Alphabet Inc. has a 1-year low of $268.43 and a 1-year high of $404.47. The company’s fifty day moving average is $338.12 and its two-hundred day moving average is $338.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOG) 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 analysts’ consensus estimates of $3.01 by ($0.89). Alphabet had a return on equity of 51.32% and a net margin of 54.77%. The business had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. During the same quarter in the previous year, the business posted $2.87 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 20.60 EPS for the current year.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud growth accelerated sharply. Cloud revenue more than doubled to approximately $30.7 billion, reflecting strong enterprise demand and supporting the view that Alphabet’s AI investments are generating substantial revenue. Google Cloud Revenue Just Grew 103%, so Why Is the Stock Falling?
• Positive Sentiment: AI products and infrastructure offer longer-term upside. Alphabet launched its Gemini 4 Carbon model, expanded AI Search advertising internationally and reportedly attracted interest from OpenAI in its internally developed TPU chips. One analyst described the post-earnings pullback as a potential buying opportunity. Google’s post-earnings stock pullback could be a buying opportunity
• Neutral Sentiment: Revenue remained solid but the mix was concerning. Total revenue rose 25% to about $127.6 billion, close to expectations, while YouTube advertising increased 9%. However, investors are increasingly focused on whether AI-driven businesses can offset slowing growth in Google’s core Search advertising franchise. Google Shares Fall as Ad Revenue Misses Estimates
• Negative Sentiment: Profitability and cash flow disappointed. Third-quarter EPS of $2.12 missed consensus estimates near $3.00 and fell from $2.87 a year earlier, partly due to an approximately $8.7 billion investment loss. Capital expenditures reached roughly $51.4 billion, while free cash flow turned negative as Alphabet expanded data-center capacity and hired AI talent. The heavy spending raised concerns that AI returns may take longer to materialize. Alphabet’s heavy cloud spending drives bigger-than-expected cash burn
• Negative Sentiment: Regulatory and legal risks remain secondary overhangs. South Korean authorities fined Google over alleged app-market practices, while multiple law firms publicized securities litigation tied to alleged disclosures about Gemini development. These issues were less important than earnings but could add longer-term uncertainty. South Korea fines Google and Apple over unfair app market practices

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director owned 19,076 shares of the company’s stock, valued at $6,494,424.20. This represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on GOOG shares. Royal Bank Of Canada reissued a “buy” rating and issued a $475.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Truist Financial cut 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. TD Cowen reaffirmed a “buy” rating and set a $485.00 target price (up from $475.00) on shares of Alphabet in a report on Thursday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Friday, October 9th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, August 27th. Six analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $421.85.

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google’s principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.