Cannell & Spears LLC Cuts Stock Position in Alphabet Inc. $GOOG

Cannell & Spears LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,534 shares of the information services provider’s stock after selling 34,572 shares during the period. Alphabet accounts for approximately 4.6% of Cannell & Spears LLC’s holdings, making the stock its 2nd largest position. Cannell & Spears LLC’s holdings in Alphabet were worth $231,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after purchasing an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Alphabet during the second quarter worth about $658,000. Financial Advisors Network Inc. grew its holdings in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after purchasing an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. increased its position in Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after buying an additional 3,616 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 2.3%

Shares of NASDAQ:GOOG opened at $326.57 on Tuesday. Alphabet Inc. has a 12-month low of $188.70 and a 12-month high of $404.47. The stock has a market cap of $3.96 trillion, a PE ratio of 16.40, a P/E/G ratio of 1.08 and a beta of 1.23. The business has a 50 day moving average of $359.30 and a 200-day moving average of $337.61. 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 (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 17.25 earnings per share for the current year.

Alphabet Announces Dividend

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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio is currently 4.42%.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Scotiabank restated an “outperform” rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Wolfe Research set a $460.00 target price on Alphabet in a research note on Thursday. TD Cowen reissued a “buy” rating and set a $475.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of Alphabet in a research note on Wednesday, July 22nd. Finally, Truist Financial cut their price target on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $410.09.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is currently owned by company insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Alphabet 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.