New York Life Investment Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 706,571 shares of the information services provider’s stock after purchasing an additional 4,742 shares during the quarter. Alphabet comprises approximately 1.6% of New York Life Investment Management LLC’s holdings, making the stock its 13th largest position. New York Life Investment Management LLC’s holdings in Alphabet were worth $240,757,000 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. boosted its stake in Alphabet by 1.4% in the second quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock valued at $130,704,718,000 after buying an additional 5,164,200 shares in the last quarter. State Street Corp grew its position in Alphabet by 2.8% in the second quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock valued at $67,458,980,000 after acquiring an additional 5,208,690 shares during the last quarter. Amundi grew its position in Alphabet by 22.9% in the first quarter. Amundi now owns 21,922,379 shares of the information services provider’s stock valued at $6,288,654,000 after acquiring an additional 4,083,758 shares during the last quarter. Deutsche Bank AG grew its position in Alphabet by 5.6% in the second quarter. Deutsche Bank AG now owns 17,313,729 shares of the information services provider’s stock valued at $6,117,460,000 after acquiring an additional 913,666 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Alphabet by 24.9% during the second quarter. Wellington Management Group LLP now owns 17,209,454 shares of the information services provider’s stock worth $6,080,616,000 after acquiring an additional 3,432,287 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.
Latest Alphabet News
Investors following GOOG have been watching these news items:
- Positive Sentiment: Alphabet introduced AlphaGenome 2, an AI model reported to identify nearly twice as many disease-linked DNA changes, adding to its AI research and life-sciences applications. Article: Google’s New AI Model Can Identify Nearly Twice as Many DNA Changes Linked to Disease
- Positive Sentiment: Google is testing a faster Gemini 4 Flash model internally, following the launch of Gemini 4 Carbon for developers and businesses. Continued model releases may help Alphabet compete for AI workloads and monetization. Article: Google is letting staff test a fast new Gemini AI model named Hydrogen
- Negative Sentiment: Despite the new TPU announcements, one report flags cash flow as a larger challenge for GOOG, highlighting investor concern about the cost of funding AI infrastructure and expansion. Article: Alphabet Edged Higher After Revealing New TPUs
Analyst Ratings Changes
A number of research analysts have recently commented on GOOG shares. Truist Financial set a $410.00 target price on shares of Alphabet in a report on Thursday, October 29th. DA Davidson reduced their price target on shares of Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Moffett Nathanson lowered their price objective on shares of Alphabet from $380.00 to $370.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $375.00 price objective (down from $450.00) on shares of Alphabet in a research report on Thursday, October 29th. Six investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $413.38.
View Our Latest Stock Analysis on GOOG
Insider Activity at Alphabet
In other news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly owned 19,076 shares in the company, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 247 shares of company stock worth $79,238 over the last quarter. Company insiders own 12.99% of the company’s stock.
Alphabet Trading Up 2.0%
NASDAQ GOOG opened at $290.63 on Thursday. The company has a market cap of $3.57 trillion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. Alphabet Inc. has a twelve month low of $271.41 and a twelve month 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. The business’s fifty day moving average is $326.81 and its 200 day moving average is $336.38.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued 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). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.97 billion. During the same period in the previous year, the company earned $2.87 EPS. Alphabet’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 19.74 EPS for the current fiscal year.
Alphabet Announces Dividend
The company 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 dividend of $0.22 per share. 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 (DPR) is presently 4.59%.
Alphabet Profile
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.
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