Redwood Grove Capital LLC Sells 9,600 Shares of Alphabet Inc. $GOOG

Redwood Grove Capital LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 11.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 72,081 shares of the information services provider’s stock after selling 9,600 shares during the period. Alphabet accounts for about 6.5% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 3rd largest holding. Redwood Grove Capital LLC’s holdings in Alphabet were worth $25,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new position in shares of Alphabet in the second quarter worth about $29,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the 4th quarter valued at approximately $38,000. Imprint Wealth LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $31,000. Finally, Bard Associates Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 2.2%

Alphabet stock opened at $335.41 on Tuesday. The business has a 50 day moving average price of $347.52 and a two-hundred day moving average price of $340.20. 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 Inc. has a 12 month low of $206.96 and a 12 month high of $404.47. The stock has a market cap of $4.10 trillion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.Alphabet’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts remain constructive on Alphabet’s outlook. Citizens analyst Andrew Boone expects the stock to reach a new all-time high over the next year, while recent GOOG targets have a median of $455, well above recent trading levels. Wall Street analyst sets Google price target
• Positive Sentiment: Alphabet’s record cloud growth, Gemini development and expanding AI infrastructure continue to support the bullish case. Investors are debating whether the company’s large AI spending program will produce durable growth, but some analysts view the recent pullback as an opportunity. One Mag 7 stock to watch
• Positive Sentiment: Meta- and Google-backed Jio Platforms received regulatory approval for an Indian IPO, potentially creating value for Alphabet’s investment and increasing visibility into one of its strategic holdings. Jio Platforms receives IPO approval
• Neutral Sentiment: Director Frances Arnold sold 82 shares for approximately $27,700, reducing her position by only 0.43%. The small transaction is unlikely to materially change Alphabet’s investment outlook, though broader insider activity has consisted entirely of sales during the past six months. Alphabet SEC insider filing
• Negative Sentiment: Investors are increasingly concerned that Meta’s AI-powered advertising products could challenge Google Search’s advertising dominance. OpenAI’s reported $1 billion advertising run rate adds to fears that competition for digital-ad budgets is intensifying. Bernstein warns on Meta competition
• Negative Sentiment: Regulatory pressure remains a major overhang. Google avoided a potential European penalty by changing search rules, while a £260 million U.K. app-store settlement adds another direct cost and highlights continuing scrutiny of its business practices. Google changes European search rules
• Negative Sentiment: Alphabet’s aggressive AI capital expenditures are raising concerns about free-cash-flow pressure and future margins, particularly as investors compare its spending strategy with Amazon’s. Alphabet and Amazon AI capital spending
• Negative Sentiment: Google Maps’ decision to display “Lake America” for U.S. users has triggered backlash in Canada, creating reputational and political risk, although the immediate financial impact appears limited. Google Maps Lake America controversy

Analyst Ratings Changes

Several brokerages have commented on GOOG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Friday, July 17th. Canaccord Genuity Group set a $450.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. BMO Capital Markets upped their target price on shares of Alphabet from $455.00 to $465.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Truist Financial cut their target price on shares of Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $415.55.

Insider Buying and Selling at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the 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 completion of the transaction, the chief accounting officer owned 27,386 shares in the company, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The SEC filing for this sale provides additional information. Insiders have sold 451,925 shares of company stock valued at $12,371,544 in the last 90 days. 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.