Alphabet Inc. $GOOGL Shares Bought by Stockbridge Partners LLC

Stockbridge Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 28.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,252,838 shares of the information services provider’s stock after purchasing an additional 276,356 shares during the quarter. Alphabet accounts for approximately 9.4% of Stockbridge Partners LLC’s holdings, making the stock its 3rd largest position. Stockbridge Partners LLC’s holdings in Alphabet were worth $447,727,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the 4th quarter valued at about $32,000. EMC Capital Management bought a new stake in shares of Alphabet during the 4th quarter worth about $33,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $52,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Alphabet in the 3rd quarter worth approximately $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud expands enterprise AI push: Alphabet and Accenture are launching a joint unit with 1,000 forward-deployed engineers to help businesses implement Google’s AI tools. The partnership could accelerate Cloud adoption, improve monetization and help Alphabet compete more effectively with Microsoft and Amazon. Google Cloud races to catch up in the AI deployment wars with Accenture deal
• Positive Sentiment: Potential power support for AI infrastructure: The U.S. government approved a $1.9 billion loan to NextEra Energy to refurbish an Iowa nuclear plant that Google plans to use for power. Reliable, low-carbon electricity could help support Alphabet’s growing data-center demand, although the benefits are longer term. Google’s revived nuclear power plant gets $1.9B loan from US government
• Positive Sentiment: Google and Cathay Pacific expanded trials of AI technology designed to reduce aircraft contrail warming, adding a potential sustainability and commercial-use case for Google’s AI capabilities. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Roth Capital reiterated a “buy” rating and set a $440.00 price objective (up from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. BMO Capital Markets set a $465.00 target price on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Truist Financial set a $420.00 price target on Alphabet and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley set a $400.00 price objective on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $420.19.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 451,925 shares of company stock valued at $12,371,544 in the last three months. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.0%

NASDAQ GOOGL opened at $338.36 on Wednesday. Alphabet Inc. has a 12 month low of $233.23 and a 12 month high of $408.61. The company has a market capitalization of $4.14 trillion, a P/E ratio of 16.99, a PEG ratio of 0.98 and a beta of 1.22. The company’s 50 day simple moving average is $348.34 and its 200 day simple moving average is $343.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Equities research analysts expect that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given 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 4.42%.

About Alphabet

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet’s largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.