Van ECK Associates Corp Sells 380,026 Shares of Alphabet Inc. $GOOGL

Van ECK Associates Corp lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 40.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 570,006 shares of the information services provider’s stock after selling 380,026 shares during the period. Van ECK Associates Corp’s holdings in Alphabet were worth $203,703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the period. Geode Capital Management LLC raised its holdings in Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after buying an additional 2,666,676 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $30,534,239,000. Bank of America Corp DE lifted its stake in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock valued at $21,630,861,000 after buying an additional 3,218,852 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Alphabet by 1.5% in the fourth quarter. Capital World Investors now owns 53,881,908 shares of the information services provider’s stock valued at $16,865,158,000 after buying an additional 774,336 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOGL. Cantor Fitzgerald reiterated an “overweight” rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. New Street Research upped their target price on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, June 5th. KeyCorp raised their price target on shares of Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Piper Sandler reiterated an “overweight” rating and set a $395.00 price target (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, DZ Bank raised Alphabet to a “strong-buy” rating in a report on Thursday, July 23rd. Five equities 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’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $420.19.

Alphabet Stock Performance

NASDAQ GOOGL opened at $338.50 on Friday. The company has a fifty day moving average price of $346.75 and a 200-day moving average price of $343.66. The firm has a market cap of $4.14 trillion, a price-to-earnings ratio of 17.00, a PEG ratio of 0.96 and a beta of 1.22. 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 Inc. has a 1 year low of $235.84 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. As a group, equities research analysts predict that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google agreed to secure nuclear power for 22 years, reportedly locking in roughly half of a plant’s output through 2049. The deal could provide more predictable electricity costs and reliable power for energy-intensive AI data centers, strengthening Alphabet’s infrastructure position. Alphabet Jumps 2.5% After Locking In 22 Years of Nuclear Power
• Positive Sentiment: Google completed its acquisition of AI startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees are joining Google, potentially adding talent focused on AI agents and automation. Google just completed its $1.5 billion-plus deal for AI startup Mechanize
• Positive Sentiment: Investor commentary highlighted Alphabet’s strong AI and cloud outlook. Google Cloud is reportedly growing 82% year over year, while Alphabet’s Gemini technology is expanding into professional video-editing software, supporting the case that AI can broaden enterprise revenue beyond search advertising. Microsoft Vs. Alphabet: The Enterprise Fight No One Saw Coming
• Positive Sentiment: Recent coverage continues to present Alphabet as attractively valued relative to its growth prospects. The company’s latest reported quarter exceeded expectations, with earnings of $9.11 per share versus a $2.89 consensus estimate and revenue of $119.8 billion versus $117.07 billion expected.
• Neutral Sentiment: Alphabet’s inclusion among major AI and cloud beneficiaries, along with Berkshire Hathaway’s reported position in the company, may support investor interest but does not represent a new operating catalyst. Berkshire Hathaway Has a New Top Holding, and It Dominates Its Market
• Negative Sentiment: A law firm said it is continuing an investigation into possible federal securities-law violations involving Alphabet. The announcement does not establish wrongdoing, but it introduces a potential legal and reputational overhang. Securities Fraud Investigation Into Alphabet Continues
• Negative Sentiment: Alphabet faces scrutiny over the scale of AI infrastructure spending, potential financing pressure across the AI industry, and electricity-demand concerns related to new data centers. Finland opposition parties have warned that Google’s expansion could strain local power supplies and raise energy costs. Finland Risks Strained Power Supply After Google AI Deal

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 451,925 shares of company stock worth $12,371,544 in the last quarter. 11.61% of the stock is owned by corporate insiders.

Alphabet Profile

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.