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Recent changes by institutional investors in Alphabet have been significant. Abich Financial Wealth Management LLC increased its holdings by 9,200% in Q2, now owning 186 shares valued at $34,000. Other companies, like 1620 Investment Advisors Inc. and HWG Holdings LP, also acquired new stakes in Alphabet. Overall, institutional and hedge fund ownership stands at 27.26%.
Analysts Project Growth
Analysts have various outlooks for Alphabet (GOOG). Wolfe Research upgraded the stock to “strong-buy,” while Rosenblatt downgraded it to “neutral.” TD Cowen raised their price target from $200 to $220, maintaining a “buy” rating. The consensus rating is “Moderate Buy” with an average target price of $183.75.
Performance Overview
As of Wednesday, Alphabet shares traded at $168.42, with key averages indicating stability. The company reported Q2 earnings of $1.89 per share, surpassing estimates. Revenue was up 13.6% year-over-year, totaling $84.74 billion.
Dividend Update
Alphabet declared a quarterly dividend of $0.20 per share, representing an annualized yield of 0.48%. The payout ratio stands at 12.27%.
Insider Transactions
Recent insider sales included CAO Amie Thuener O’Toole offloading 682 shares and John Kent Walker selling 16,802 shares. Insiders sold 193,725 shares totaling $31.93 million in the last 90 days.
Company Profile
Alphabet Inc operates through segments like Google Services and Cloud, offering products such as ads, Gmail, Google Maps, and YouTube across various global markets.
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