Heritage Investors Management Corp Sells 13,966 Shares of Alphabet Inc. $GOOGL

Heritage Investors Management Corp cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the second quarter, Holdings Channel reports. The institutional investor owned 374,536 shares of the information services provider’s stock after selling 13,966 shares during the quarter. Alphabet accounts for 3.7% of Heritage Investors Management Corp’s holdings, making the stock its 4th largest holding. Heritage Investors Management Corp’s holdings in Alphabet were worth $133,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Journey Advisory Group LLC lifted its position in shares of Alphabet by 1.5% during the 2nd quarter. Journey Advisory Group LLC now owns 87,041 shares of the information services provider’s stock valued at $31,106,000 after buying an additional 1,318 shares in the last quarter. Correct Capital Wealth Management grew its stake in Alphabet by 1.9% in the 2nd quarter. Correct Capital Wealth Management now owns 7,003 shares of the information services provider’s stock valued at $2,503,000 after acquiring an additional 129 shares during the period. Boomfish Wealth Group LLC increased its holdings in Alphabet by 4.5% in the 2nd quarter. Boomfish Wealth Group LLC now owns 3,168 shares of the information services provider’s stock worth $1,132,000 after acquiring an additional 135 shares in the last quarter. Strive Financial Group LLC increased its holdings in Alphabet by 5.9% in the 2nd quarter. Strive Financial Group LLC now owns 15,034 shares of the information services provider’s stock worth $5,373,000 after acquiring an additional 843 shares in the last quarter. Finally, Blueprint Investment Partners LLC raised its position in Alphabet by 63.8% during the second quarter. Blueprint Investment Partners LLC now owns 28,914 shares of the information services provider’s stock worth $10,333,000 after acquiring an additional 11,261 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Piper Sandler restated an “overweight” rating and set a $395.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Loop Capital lifted their price objective on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, China Renaissance boosted their price objective on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $420.19.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $344.82 on Monday. The stock has a market cap of $4.22 trillion, a PE ratio of 17.32, a P/E/G ratio of 0.97 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $201.30 and a 12-month high of $408.61. The company has a 50-day moving average of $352.00 and a 200 day moving average of $341.35.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion for 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, sell-side analysts predict that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 4.42%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,945 shares of company stock valued at $12,382,714 in the last quarter. Corporate insiders own 11.61% of the company’s stock.

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.