SVB Wealth LLC Sells 12,491 Shares of Alphabet Inc. $GOOG

SVB Wealth LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 15.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,650 shares of the information services provider’s stock after selling 12,491 shares during the period. Alphabet accounts for about 1.4% of SVB Wealth LLC’s investment portfolio, making the stock its 18th biggest holding. SVB Wealth LLC’s holdings in Alphabet were worth $24,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Readystate Asset Management LP bought a new stake in Alphabet during the 2nd quarter valued at approximately $45,352,000. BlackRock Inc. raised its position in shares of Alphabet by 1.4% in the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after acquiring an additional 5,164,200 shares in the last quarter. State Street Corp raised its position in shares of Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after acquiring an additional 953,790 shares in the last quarter. Auto Owners Insurance Co lifted its stake in shares of Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the period. Finally, J. Stern & Co. LLP boosted its position in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on 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 of the company’s stock, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 451,925 shares of company stock valued at $12,371,544 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $335.45 on Friday. Alphabet Inc. has a 1-year low of $236.68 and a 1-year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The business has a fifty day moving average price of $344.76 and a 200-day moving average price of $341.64. The company has a market capitalization of $4.10 trillion, a PE ratio of 16.85, a PEG ratio of 0.97 and a beta of 1.21.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Alphabet’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. As a group, equities analysts expect that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOG. Truist Financial decreased their price objective on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. HSBC set a $515.00 target price on shares of Alphabet in a report on Friday, August 14th. DA Davidson decreased their price target on shares of Alphabet from $375.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research report on Friday, August 14th. Finally, Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Six investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $415.55.

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.

Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.