7,369 Alphabet Inc. $GOOGL Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.8% during the 3rd quarter, Holdings Channel reports. The fund owned 61,089 shares of the information services provider’s stock after selling 7,369 shares during the period. Alphabet makes up 2.3% of Teamwork Financial Advisors LLC’s portfolio, making the stock its 10th largest holding. Teamwork Financial Advisors LLC’s holdings in Alphabet were worth $21,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Alphabet by 5.6% during the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock worth $85,403,303,000 after purchasing an additional 12,718,127 shares during the period. Diamant Asset Management Inc. grew its position in Alphabet by 28,950.0% in the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock valued at $2,671,986,000 after purchasing an additional 9,259,940 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Alphabet by 90.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock valued at $4,900,078,000 after purchasing an additional 8,112,680 shares in the last quarter. Amundi increased its stake in Alphabet by 12.7% during the 1st quarter. Amundi now owns 31,745,979 shares of the information services provider’s stock valued at $9,128,850,000 after purchasing an additional 3,574,810 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in Alphabet during the 2nd quarter valued at $1,058,385,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Thursday, October 15th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $417.00 price target (up from $411.00) on shares of Alphabet in a research report on Tuesday, October 6th. DA Davidson set a $350.00 price target on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, Tigress Financial reiterated a “strong-buy” rating and set a $485.00 price target (up from $415.00) on shares of Alphabet in a research note on Thursday, September 17th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $425.04.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud and AI demand remain key bullish factors. Coverage highlights accelerating Google Cloud growth, expanding demand for AI infrastructure, and Alphabet’s Gemini models and in-house chips as potential drivers of future revenue and margins. OpenAI’s decision to make its models available through Google Cloud could also increase enterprise cloud usage. OpenAI to bring AI models to Google’s cloud
• Positive Sentiment: Some analysts see substantial upside. Bullish commentary points to strong search and cloud fundamentals, a lower valuation than many large technology peers, and potential upside if Alphabet demonstrates that AI spending is translating into durable growth. TikTok’s reported shift of advertising toward YouTube may provide an additional, though smaller, benefit. Alphabet could still have room to run
• Positive Sentiment: Citizens JMP maintained an outperform rating. The firm lowered its price target from $515 to $450, but the revised target still implies considerable potential appreciation from current levels. Banking giant cuts Google stock price target

Alphabet Trading Down 3.1%

Shares of GOOGL stock opened at $324.22 on Friday. Alphabet Inc. has a 52-week low of $251.85 and a 52-week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The company has a 50-day simple moving average of $343.31 and a two-hundred day simple moving average of $353.04. The company has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.97 and a beta of 1.21.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Research analysts anticipate that Alphabet Inc. will post 20.60 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly 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 legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The SEC filing for this sale provides additional information. Insiders have sold 315,765 shares of company stock worth $6,297,980 in the last 90 days. Insiders own 11.61% of the company’s stock.

Alphabet Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.