Assenagon Asset Management S.A. Cuts Position in Alphabet Inc. $GOOG

Assenagon Asset Management S.A. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,927,185 shares of the information services provider’s stock after selling 1,023,609 shares during the quarter. Alphabet accounts for 3.5% of Assenagon Asset Management S.A.’s holdings, making the stock its 6th biggest position. Assenagon Asset Management S.A.’s holdings in Alphabet were worth $2,800,912,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after buying an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Alphabet during the 2nd quarter worth about $658,000. Financial Advisors Network Inc. lifted its position in Alphabet by 7.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after buying an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. lifted its position in Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after buying an additional 3,616 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $356.62 on Friday. The company has a fifty day moving average price of $354.40 and a two-hundred day moving average price of $338.85. Alphabet Inc. has a one year low of $195.22 and a one year high of $404.47. The stock has a market cap of $4.36 trillion, a P/E ratio of 17.91, a P/E/G ratio of 1.01 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.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Alphabet’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Pivotal Research upped their target price on Alphabet from $470.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. BMO Capital Markets increased their price target on Alphabet from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Truist Financial reduced their price target on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Finally, DA Davidson decreased their price target on Alphabet from $375.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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’s planned 10-part bond offering of up to $25 billion was met with approximately $115 billion in investor orders, indicating strong confidence in the company’s credit quality and long-term AI strategy. The funds are intended to support data-center expansion and other infrastructure investments. Google’s AI Bond Sale Attracts $115 Billion of Orders
• Positive Sentiment: Google Cloud continues to benefit from strong AI demand, while AI lab Mirendil signed a multiyear, $100 million-plus agreement to obtain computing capacity from Google Cloud. Such contracts could help monetize Alphabet’s substantial AI infrastructure spending. Mirendil Inks $100M+ Google Cloud Deal
• Neutral Sentiment: The debt sale gives Alphabet additional flexibility to fund its roughly $205 billion AI infrastructure plan, but it also increases borrowing and raises questions about returns on capital. Strong demand for the bonds reduces near-term financing risk, although investors are likely to scrutinize spending discipline and future profitability. Alphabet Seeks Up to $25 Billion From Bond Sale
• Negative Sentiment: Alphabet is facing renewed concerns about its ability to lead in frontier AI after chief scientist Jeff Dean departed to launch a startup with other researchers, while DeepMind chief Demis Hassabis moved away from day-to-day management into a broader chief scientist role. The departures heighten fears of a talent drain and potential disruption to Gemini and other AI initiatives. Google Shakes Up AI Leadership
• Negative Sentiment: Commentary suggests Google Cloud’s commercial growth is competing for scarce computing resources and management attention with DeepMind’s longer-term AI research, adding execution risk as Alphabet attempts to scale both businesses. Alphabet’s Cloud Growth Straining Its Frontier AI Push

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 82 shares of the business’s stock in a transaction dated 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 owned 18,914 shares of the company’s stock, valued at $6,305,738.46. The trade was a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 600,547 shares of company stock valued at $16,255,540. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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.