Convergence Investment Partners LLC Purchases 9,058 Shares of Alphabet Inc. $GOOG

Convergence Investment Partners LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 29.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,857 shares of the information services provider’s stock after purchasing an additional 9,058 shares during the period. Alphabet makes up 1.9% of Convergence Investment Partners LLC’s portfolio, making the stock its 4th biggest position. Convergence Investment Partners LLC’s holdings in Alphabet were worth $11,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Cannon Capital Management Inc. grew its holdings in shares of Alphabet by 4.1% during the first quarter. Cannon Capital Management Inc. now owns 8,563 shares of the information services provider’s stock valued at $2,456,000 after buying an additional 338 shares in the last quarter. Amova Asset Management Americas Inc. lifted its stake in Alphabet by 9.9% in the 1st quarter. Amova Asset Management Americas Inc. now owns 352,781 shares of the information services provider’s stock worth $101,156,000 after acquiring an additional 31,635 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Alphabet by 5.0% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 56,528 shares of the information services provider’s stock worth $16,216,000 after acquiring an additional 2,692 shares during the period. Florida Financial Advisors LLC boosted its position in Alphabet by 98.9% during the 1st quarter. Florida Financial Advisors LLC now owns 5,511 shares of the information services provider’s stock worth $1,581,000 after acquiring an additional 2,740 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its stake in Alphabet by 9.9% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 6,631 shares of the information services provider’s stock valued at $1,902,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen reiterated a “buy” rating and issued a $475.00 target price on shares of Alphabet in a report on Thursday. Oppenheimer restated an “outperform” rating and set a $400.00 price target (down from $445.00) on shares of Alphabet in a report on Thursday. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, KeyCorp set a $445.00 target price on shares of Alphabet in a research note on Friday, July 10th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $410.09.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet posted blockbuster Q2 results, with revenue up 24% to $119.8 billion and EPS of $9.11, while Google Cloud revenue jumped 82% year over year and YouTube ad revenue also remained strong.
• Positive Sentiment: Management and analysts said AI demand is still outpacing capacity, suggesting Alphabet’s spending is supporting long-term growth rather than just driving costs.
• Positive Sentiment: Several Wall Street firms kept bullish ratings or raised targets, saying the pullback may be creating an attractive entry point despite near-term volatility.
• Positive Sentiment: Alphabet disclosed a large stake in SpaceX, which some investors view as an additional valuable asset on the balance sheet.
• Neutral Sentiment: Alphabet announced a quarterly dividend of $0.22 per share, a modest capital-return move that is unlikely to be a major near-term driver given the stock’s much larger AI investment story.
• Neutral Sentiment: Several funds and institutions disclosed portfolio changes in GOOG, with some adding shares and others trimming, reflecting mixed but ongoing institutional interest.
• Neutral Sentiment: Google also rolled out small product updates such as selfie-video sign-in and easier iPhone-to-Android switching, which are positive for engagement but not material stock catalysts.
• Negative Sentiment: Investors are worried about Alphabet’s sharply higher capital spending guidance for 2026 and a first-ever quarterly negative free cash flow reading, raising concerns that AI investments may take longer to pay off.
• Negative Sentiment: Alphabet ended its long-running quarterly buyback pattern, which removes a steady source of support for the shares.
• Negative Sentiment: The company also faces fresh regulatory and legal pressure, including an about $1 billion EU antitrust fine and multiple securities-fraud investigations.
• Negative Sentiment: Reports of declining Google search traffic from AI overviews and concerns about publisher partnerships add another overhang to the core search business.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $318.34 on Friday. Alphabet Inc. has a twelve month low of $188.70 and a twelve month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.40 and a beta of 1.23. The business has a 50 day moving average price of $362.11 and a 200 day moving average price of $337.51.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 57.20%. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same period last year, the firm earned $2.31 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 14.34 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given 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 Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 159,415 shares of company stock worth $7,672,279. Company insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.