Alphabet Inc. $GOOG Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 179,233 shares of the information services provider’s stock after selling 9,914 shares during the quarter. Alphabet makes up about 1.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 16th largest holding. Riverbridge Partners LLC’s holdings in Alphabet were worth $61,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings 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 during the period. State Street Corp boosted its stake in Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock valued at $67,458,980,000 after purchasing an additional 5,208,690 shares during the period. Amundi boosted its stake in Alphabet by 22.9% during the 1st quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock valued at $6,288,654,000 after purchasing an additional 4,083,758 shares during the period. Deutsche Bank AG boosted its stake in Alphabet by 5.6% during the 2nd quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider’s stock valued at $6,117,460,000 after purchasing an additional 913,666 shares during the period. Finally, Wellington Management Group LLP grew its position in Alphabet by 24.9% in the 2nd quarter. Wellington Management Group LLP now owns 17,209,454 shares of the information services provider’s stock worth $6,080,616,000 after purchasing an additional 3,432,287 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. Sanford C. Bernstein restated a “market perform” rating and issued a $325.00 price target on shares of Alphabet in a research note on Thursday, October 29th. Zacks Research downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. China Renaissance reduced their price objective on Alphabet from $485.00 to $445.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Bank of America reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 29th. Finally, DA Davidson lowered their target price on Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $413.38.

Alphabet Stock Performance

GOOG stock opened at $295.35 on Friday. The company has a market capitalization of $3.63 trillion, a P/E ratio of 15.41, a PEG ratio of 0.88 and a beta of 1.21. The company has a 50-day simple moving average of $326.04 and a 200 day simple moving average of $336.19. Alphabet Inc. has a fifty-two week low of $271.41 and a fifty-two week high of $404.47. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.89). The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.97 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.87 EPS. Sell-side analysts predict that Alphabet Inc. will post 19.74 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. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet’s dividend payout ratio is currently 4.59%.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 83 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 247 shares of company stock valued at $79,238. Corporate insiders own 12.99% of the company’s stock.

Trending Headlines about Alphabet

Investors following GOOG have been watching these headlines:

• Positive Sentiment: Alphabet could benefit from Nvidia CEO Jensen Huang’s reported departure, which may encourage cloud customers to diversify chip suppliers and challenge Nvidia’s premium pricing. Google’s Tensor Processing Units (TPUs) and its chip investments position it to compete for AI-computing demand. Nvidia succession uncertainty opens door for Google TPU and Broadcom, analyst says
• Positive Sentiment: Google and Samsung are preparing AI smart glasses for sale next month, while Google is also extending Gemini into Apple CarPlay. These launches could broaden Gemini’s reach across devices and platforms. Google and Samsung launch AI glasses pre-orders
• Negative Sentiment: A separate lawsuit seeking to halt frontier AI development could create uncertainty for Google’s AI plans if it leads to restrictions or additional compliance burdens. OpenAI, Google, Anthropic hit with lawsuit seeking halt to frontier AI development

About Alphabet

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.