Alphabet Inc. $GOOGL Stock: Kelleher Financial Advisors Cuts Holdings

Kelleher Financial Advisors lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 55.0% in the 3rd quarter, Holdings Channel reports. The firm owned 17,658 shares of the information services provider’s stock after selling 21,610 shares during the period. Alphabet accounts for approximately 1.6% of Kelleher Financial Advisors’ investment portfolio, making the stock its 12th biggest holding. Kelleher Financial Advisors’ holdings in Alphabet were worth $6,076,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GOOGL. EMC Capital Management bought a new stake in shares of Alphabet in the 2nd quarter valued at $35,000. Core Capital Management & Research inc. acquired a new stake in Alphabet during the 2nd quarter worth $41,000. Intelligent Financial Strategies bought a new position in Alphabet during the third quarter worth about $41,000. Premier Financial Group bought a new position in Alphabet during the second quarter worth about $45,000. Finally, Van Den Berg Management I Inc. lifted its holdings in Alphabet by 319.6% during the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider’s stock worth $61,000 after acquiring an additional 163 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Top Alphabet Stories

Here are a few of the latest stories about GOOGL:

• Positive Sentiment: Nvidia CEO Jensen Huang’s reported departure has put a spotlight on alternatives to Nvidia. Alphabet’s expanding TPU business could help it compete for AI workloads and gain market share, while its Google Cloud infrastructure also uses AMD processors. Why Alphabet Stock Was Moving Higher Today
• Negative Sentiment: Investors remain concerned that heavy AI data-center spending could weigh on cash flow, even as the underlying cloud and advertising businesses remain attractive. This could limit near-term enthusiasm if returns on the investment take time to materialize. Alphabet: Punished For Its Cash Flow, Not Its Business
• Negative Sentiment: A lawsuit against Google and other AI developers seeks to halt frontier AI development, creating potential regulatory and operational uncertainty. Separately, securities class actions allege investors were misled about Gemini development and disclosures; the allegations are not proven, but add legal overhang. Lawsuit Seeks to Halt Frontier AI Development

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 19,076 shares of the company’s stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 247 shares of company stock valued at $79,238 in the last ninety days. 11.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Barclays reiterated an “overweight” rating and set a $405.00 price objective (down from $425.00) on shares of Alphabet in a report on Thursday, October 29th. Citizens Jmp lowered Alphabet from a “market outperform” rating to a “hold” rating in a research report on Thursday, October 29th. Moffett Nathanson set a $345.00 target price on Alphabet in a research note on Thursday, October 29th. Finally, KeyCorp lowered their target price on Alphabet from $410.00 to $385.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $412.51.

Alphabet Stock Up 1.8%

Shares of Alphabet stock opened at $298.70 on Friday. The business’s 50 day simple moving average is $329.12 and its 200 day simple moving average is $338.21. Alphabet Inc. has a 52-week low of $270.70 and a 52-week high of $408.61. The firm has a market cap of $3.67 trillion, a PE ratio of 15.59, a P/E/G ratio of 0.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. On average, analysts predict that Alphabet Inc. will post 19.81 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 7th. Alphabet’s dividend payout ratio (DPR) is currently 4.59%.

About Alphabet

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.