Prospect Financial Services LLC Reduces Position in Alphabet Inc. $GOOG

Prospect Financial Services LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 4.8% during the 2nd quarter, Holdings Channel reports. The firm owned 32,765 shares of the information services provider’s stock after selling 1,650 shares during the quarter. Alphabet comprises approximately 5.9% of Prospect Financial Services LLC’s investment portfolio, making the stock its 5th largest holding. Prospect Financial Services LLC’s holdings in Alphabet were worth $11,577,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC raised its position in Alphabet by 3.1% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 99,533 shares of the information services provider’s stock valued at $35,168,000 after purchasing an additional 2,952 shares in the last quarter. ABN AMRO Bank N.V. grew its position in shares of Alphabet by 71.0% during the 2nd quarter. ABN AMRO Bank N.V. now owns 431,035 shares of the information services provider’s stock worth $152,275,000 after buying an additional 179,006 shares in the last quarter. Kelleher Financial Advisors grew its position in shares of Alphabet by 63.9% during the 2nd quarter. Kelleher Financial Advisors now owns 92,845 shares of the information services provider’s stock worth $32,805,000 after buying an additional 36,212 shares in the last quarter. EJMK Ventures LLC increased its stake in shares of Alphabet by 37.5% during the second quarter. EJMK Ventures LLC now owns 5,183 shares of the information services provider’s stock valued at $1,831,000 after buying an additional 1,414 shares during the period. Finally, Sutton Place Investors LLC increased its stake in shares of Alphabet by 1.8% during the second quarter. Sutton Place Investors LLC now owns 3,850 shares of the information services provider’s stock valued at $1,360,000 after buying an additional 68 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI infrastructure expansion: Alphabet’s expanded custom-silicon relationship with Marvell covers components connected to Google’s TPU ecosystem, including inference accelerators, networking, storage, and memory products. The agreement gives Alphabet more supply-chain flexibility and supports continued AI capacity growth, although it may increase dependence on multiple chip partners. Jensen Huang Thinks This Chip Stock Could Hit $1 Trillion
• Positive Sentiment: Waymo growth: Alphabet’s autonomous-driving unit received approval to operate thousands of robotaxis in Nevada and has expanded its lower-cost next-generation vehicles to riders in Los Angeles, Phoenix, and San Francisco. Waymo also introduced a custom AI chip designed to reduce reliance on Nvidia and AMD, potentially improving long-term economics. Robotaxi Permits in Nevada
• Positive Sentiment: Investor and analyst support: Berkshire Hathaway significantly increased its Alphabet position, reinforcing the view that the company fits a value-oriented investment strategy. Rosenblatt initiated coverage with a “Buy” rating, while analysts continue to point to resilient Search, fast-growing Cloud, and strong earnings momentum. Berkshire’s Alphabet Investment
• Neutral Sentiment: DeepMind leadership transition: Nobel Prize-winning co-founder Demis Hassabis is moving from day-to-day management to chairman and chief scientist roles, while Koray Kavukcuoglu will oversee operations. The change could improve Alphabet-wide AI coordination, but investors may monitor execution and retention risks. DeepMind Leadership Change
• Negative Sentiment: Firebase enforcement risk: Indian authorities directed Google to remove hundreds of Firebase accounts allegedly used in bank impersonation scams. The action could increase compliance costs and renew concerns about misuse of Alphabet’s platforms. India Orders Removal of Firebase Accounts

Insider Activity

In other Alphabet news, Director Frances Arnold sold 82 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total value of $27,337.98. Following the completion of the sale, the director directly owned 18,914 shares in the company, valued at $6,305,738.46. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 451,945 shares of company stock worth $12,382,714. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. UBS Group reissued a “neutral” rating and set a $379.00 target price (down from $400.00) on shares of Alphabet in a research report on Thursday, July 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price target on shares of Alphabet in a report on Thursday, May 21st. HSBC set a $515.00 price target on shares of Alphabet in a research report on Friday, August 14th. Finally, Pivotal Research increased their price objective on shares of Alphabet from $470.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $415.55.

Alphabet Price Performance

GOOG opened at $341.75 on Friday. The firm has a market capitalization of $4.18 trillion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The business’s 50-day moving average is $350.34 and its two-hundred day moving average is $339.73. Alphabet Inc. has a 1 year low of $202.13 and a 1 year high of $404.47.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s payout ratio is 4.42%.

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.