Ramsay Stattman Vela & Price Inc. Sells 1,781 Shares of Alphabet Inc. $GOOG

Ramsay Stattman Vela & Price Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,584 shares of the information services provider’s stock after selling 1,781 shares during the quarter. Alphabet makes up about 4.8% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 4th biggest position. Ramsay Stattman Vela & Price Inc.’s holdings in Alphabet were worth $27,458,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GOOG. Readystate Asset Management LP acquired a new stake in Alphabet during the 2nd quarter worth $45,352,000. BlackRock Inc. grew its position in Alphabet by 1.4% during the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after purchasing an additional 5,164,200 shares during the last quarter. State Street Corp grew its position in Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock worth $67,458,980,000 after purchasing an additional 5,208,690 shares during the last quarter. Amundi increased its stake 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 purchasing an additional 4,083,758 shares during the period. Finally, Deutsche Bank AG increased its stake 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 purchasing an additional 913,666 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $330.91 on Thursday. The stock has a fifty day moving average price of $340.41 and a 200 day moving average price of $350.26. Alphabet Inc. has a 1-year low of $250.45 and a 1-year high of $404.47. 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 company has a market cap of $4.05 trillion, a PE ratio of 16.62, a P/E/G ratio of 0.97 and a beta of 1.19.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Alphabet’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. Sell-side analysts forecast that Alphabet Inc. will post 20.60 EPS for the current year.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. China Renaissance reduced their target price on shares of Alphabet from $485.00 to $445.00 and set a “buy” rating for the company in a report on Friday, July 24th. Moffett Nathanson lowered their price target on Alphabet from $380.00 to $370.00 and set a “buy” rating on the stock in a report on Wednesday, September 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Pivotal Research boosted their price target on Alphabet from $470.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Tigress Financial boosted their price target on Alphabet from $415.00 to $485.00 and gave the company a “strong-buy” rating in a research report on Friday, September 18th. Six analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $421.85.

Insiders Place Their Bets

In other news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer owned 27,386 shares in the company, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 339,182 shares of company stock worth $6,740,093. 12.99% of the stock is owned by insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reached an agreement to make OpenAI’s latest models and Codex coding agent available through Google Cloud. The deal could increase cloud demand, improve infrastructure utilization and strengthen Google’s position in enterprise AI. OpenAI to sell its top models on Google Cloud
• Positive Sentiment: Analysts and investors continue to point to accelerating Google Cloud growth, rising demand for Alphabet’s custom AI chips and resilient Search revenue as potential catalysts for the upcoming earnings report. Bank of America expects a modest third-quarter beat, while several analysts maintain bullish long-term targets. Alphabet set for earnings beat
• Positive Sentiment: Waymo expanded its autonomous ride-hailing service to Las Vegas airport and plans further international and fleet expansion, providing Alphabet with a potential long-term growth avenue beyond advertising and cloud. Waymo starts offering rides at the Las Vegas airport

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google’s principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.