Alphabet Inc. $GOOG Stock Holdings Trimmed by Nelson Capital Management LLC

Nelson Capital Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,702 shares of the information services provider’s stock after selling 1,512 shares during the period. Alphabet makes up 2.7% of Nelson Capital Management LLC’s holdings, making the stock its 8th largest position. Nelson Capital Management LLC’s holdings in Alphabet were worth $22,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Imprint Wealth LLC acquired a new position in shares of Alphabet during the third quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet in the 4th quarter worth approximately $38,000. Bard Associates Inc. acquired a new stake in Alphabet in the 4th quarter worth approximately $41,000. Finally, Towne Trust Company N.A boosted its stake in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates, driven by strong search, ads, and especially Google Cloud growth. S&P 500, Nasdaq close lower ahead of technology earnings
• Positive Sentiment: Google Cloud growth accelerated sharply on AI demand, reinforcing the case that Alphabet’s AI investments are translating into revenue. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue rose 13%, adding another sign that Alphabet’s core advertising business remains resilient. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion
• Positive Sentiment: Google said Gemini has reached 950 million monthly active users, suggesting improving traction in consumer AI. Google’s Gemini app nips at ChatGPT’s heels as it nears 1 billion users

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $341.91 on Thursday. Alphabet Inc. has a twelve month low of $188.70 and a twelve month high of $404.47. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.14 trillion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company’s 50 day moving average is $363.69 and its 200 day moving average is $337.49.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.88 by $6.23. The business had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.06 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 14.34 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group set a $430.00 price target on shares of Alphabet in a research note on Thursday, July 16th. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. TD Cowen boosted their price objective on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $425.00 target price on shares of Alphabet in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $386.88.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,415 shares of company stock valued at $7,672,279 in the last 90 days. 12.99% of the stock is currently owned by insiders.

About Alphabet

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.