Positano Wealth Management Ltd Has $21.18 Million Position in Alphabet Inc. $GOOGL

Positano Wealth Management Ltd decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% during the 1st quarter, HoldingsChannel reports. The fund owned 73,646 shares of the information services provider’s stock after selling 8,483 shares during the period. Alphabet comprises approximately 15.7% of Positano Wealth Management Ltd’s portfolio, making the stock its largest holding. Positano Wealth Management Ltd’s holdings in Alphabet were worth $21,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet during the fourth quarter worth about $32,000. EMC Capital Management acquired a new stake in Alphabet during the 4th quarter worth approximately $33,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $38,000. Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $52,000. Finally, Kentucky Trust Co increased its position in Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. China Renaissance raised their price target on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, May 4th. President Capital increased their price objective on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. DZ Bank raised Alphabet to a “strong-buy” rating in a research report on Thursday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Finally, CICC Research upped their price target on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average target price of $419.86.

Insider Activity at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 82 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $333.39, for a total value of $27,337.98. Following the completion of the sale, the director directly owned 18,914 shares of the company’s stock, valued at $6,305,738.46. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 600,547 shares of company stock valued at $16,255,540. 11.61% of the stock is currently owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Alphabet Stock Performance

Shares of GOOGL stock opened at $354.30 on Monday. Alphabet Inc. has a fifty-two week low of $196.60 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The stock has a 50 day simple moving average of $355.68 and a two-hundred day simple moving average of $340.49. The company has a market cap of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 0.99 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Research analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared 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. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is 4.42%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.