Alphabet Inc. $GOOGL Stake Reduced by Cim Investment Management Inc.

Cim Investment Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,409 shares of the information services provider’s stock after selling 2,512 shares during the quarter. Alphabet comprises about 2.4% of Cim Investment Management Inc.’s portfolio, making the stock its 7th biggest position. Cim Investment Management Inc.’s holdings in Alphabet were worth $10,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GOOGL. State Street Corp boosted its holdings in Alphabet by 5.6% in the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock valued at $85,403,303,000 after purchasing an additional 12,718,127 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Alphabet by 0.5% during the 4th quarter. Invesco Ltd. now owns 45,394,474 shares of the information services provider’s stock valued at $14,208,470,000 after purchasing an additional 208,362 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Alphabet by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 38,106,033 shares of the information services provider’s stock valued at $11,927,189,000 after purchasing an additional 583,078 shares during the period. Amundi boosted its stake in shares of Alphabet by 4.6% during the 2nd quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock worth $11,865,809,000 after acquiring an additional 1,457,371 shares in the last quarter. Finally, Nuveen LLC boosted its position in Alphabet by 1.7% during the fourth quarter. Nuveen LLC now owns 29,166,806 shares of the information services provider’s stock worth $9,129,210,000 after purchasing an additional 478,848 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s AI growth story remains a key bullish catalyst. Gemini adoption across Search, advertising and Cloud, along with expanding AI infrastructure, could create multiple growth engines. GOOGL’s Prospects Ride on AI Initiatives
• Positive Sentiment: Piper Sandler raised its Alphabet price target to $400 from $395 and maintained an overweight rating, citing potential for Google’s externally sold TPU business to reach $104 billion in revenue by 2028. Piper Sandler sees Google TPU sales hitting $104 billion by 2028
• Positive Sentiment: Google Cloud expanded its partnership with Thales to secure and govern agentic AI workflows, potentially strengthening enterprise demand for Gemini and Google Cloud services. Thales Expands Collaboration with Google Cloud
• Positive Sentiment: Google’s Gemini is powering the new U.S. government website America.gov alongside xAI’s Grok, providing a high-profile validation of Alphabet’s AI technology. New AI-powered government website uses Gemini and Grok
• Neutral Sentiment: Netlist sought a U.S. import ban on Micron memory chips used in AI systems involving Google and other companies. The case could affect supply chains, but no immediate operational impact on Alphabet was reported. Netlist seeks U.S. import ban on Micron chips
• Negative Sentiment: Google appealed EU orders requiring it to open Android access to rival AI services and provide search data to competing search engines. Investors are concerned about privacy risks, weaker competitive advantages and possible disruption to Google’s business model. Google challenges EU orders
• Negative Sentiment: Alphabet also faces continued European regulatory risk, including a €403 million privacy fine related to historical location-data practices. Rising AI capital spending and competition from Meta add further near-term investor concerns. Google’s €403 million privacy fine

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Wells Fargo & Company set a $411.00 price objective on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. HSBC reissued a “buy” rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Wedbush reaffirmed an “outperform” rating and issued a $445.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Finally, Barclays reiterated an “overweight” rating and set a $425.00 price objective (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $425.60.

Insiders Place Their Bets

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The SEC filing for this sale provides additional information. Insiders sold 441,316 shares of company stock worth $8,648,795 in the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Alphabet Trading Down 0.5%

NASDAQ GOOGL traded down $1.83 during trading on Tuesday, hitting $340.92. The stock had a trading volume of 20,695,938 shares, compared to its average volume of 30,942,648. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.17 trillion, a PE ratio of 17.12, a PEG ratio of 1.00 and a beta of 1.22. The firm has a 50 day moving average price of $343.94 and a 200 day moving average price of $346.96. Alphabet Inc. has a twelve month low of $235.84 and a twelve month high of $408.61.

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. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. As a group, equities research analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 7th were paid a $0.22 dividend. The ex-dividend date was 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%.

About Alphabet

Alphabet Inc is a technology and internet services company best known as the parent company of Google. Its primary business, Google Services, includes online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a range of hardware and subscription products.

Alphabet also operates Google Cloud, which provides infrastructure, data analytics, cybersecurity, productivity software, and artificial intelligence services to businesses, governments, and other organizations.