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Institutional investors are altering their positions in Alphabet. Abich Financial grew its stake by 9,200%, owning 186 shares valued at $34k after acquiring 184 more. 1620 Investment Advisors and HWG Holdings also purchased new stakes valued at approximately $37k and $40k, respectively. Richardson Financial and Slocum Gordon & Co took positions worth $34k and $44k. Overall, institutional and hedge funds own 27.26% of Alphabet.
Analyst Ratings
Wolfe Research rated Alphabet as a “strong buy” on July 16. Rosenblatt downgraded it to “neutral” with a $181 price target. TD Cowen raised its target to $220 with a “buy” rating. Cantor Fitzgerald upgraded it to “hold.” Pivotal Research initiated coverage with a $215 “buy” rating. Currently, it holds a “Moderate Buy” consensus rating with an average target of $183.75.
Stock Performance
Alphabet shares opened at $168.42. The company has a market cap of $2.08 trillion, with a PE ratio of 25.83. It reported an EPS of $1.89 in July, surpassing estimates. Revenue was $84.74 billion, a 13.6% increase year-over-year, with an EPS forecast of 7.63 for the current year.
Dividend Announcement
A quarterly dividend of $0.20 per share was paid on September 16, offering an annual yield of 0.48%.
Insider Activity
CAO Amie Thuener O’Toole sold 682 shares for $114,576 on August 2. John Kent Walker sold 16,802 shares for $2.78 million on September 27. Over the last 90 days, insiders sold shares valued at $31.93 million, owning 12.99% of the company.
Company Overview
Alphabet offers various services globally through Google Services and Cloud segments, including ads, Android, and YouTube.
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