Alphabet Inc. $GOOGL Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,426 shares of the information services provider’s stock after selling 2,195 shares during the quarter. Alphabet accounts for about 1.9% of Patton Albertson Miller Group LLC’s holdings, making the stock its 12th largest position. Patton Albertson Miller Group LLC’s holdings in Alphabet were worth $18,727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. State Street Corp grew its stake in Alphabet by 5.6% during the 2nd quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock valued at $85,403,303,000 after acquiring an additional 12,718,127 shares in the last quarter. Amundi boosted its position in Alphabet by 4.6% during the second quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock valued at $11,865,809,000 after purchasing an additional 1,457,371 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Alphabet by 10.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider’s stock valued at $6,334,186,000 after purchasing an additional 1,631,721 shares in the last quarter. Swiss National Bank increased its position in Alphabet by 7.1% in the 1st quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock worth $4,911,467,000 after purchasing an additional 1,139,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Alphabet by 90.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock valued at $4,900,078,000 after buying an additional 8,112,680 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue more than doubled year over year in the latest quarter, and its reported backlog was about $561 billion, highlighting strong enterprise demand. Read More.
• Positive Sentiment: Alphabet is in preliminary discussions related to the U.S. “Golden Dome” defense initiative. A contract could create a new, recurring revenue stream and help monetize its infrastructure investments, though no deal has been confirmed. Read More.
• Neutral Sentiment: Google plans to make its AI tools opt-in for K-12 students, responding to concerns from educators and policymakers. Reports that restricting AI could also limit Search have drawn political criticism, creating reputational risk while the company adjusts its school policies. Read More.
• Negative Sentiment: Recent earnings concerns continue to weigh on the outlook: Alphabet missed quarterly EPS expectations, Search growth slowed, and AI-generated results may produce less advertising revenue than traditional Search. ChatGPT’s search volume is also reported at roughly 20% of Google’s, underscoring competition for users. Read More.
• Negative Sentiment: Heavy AI infrastructure spending pushed free cash flow negative, and management expects capital expenditures to rise further. That raises questions about when the investment will generate sufficient returns and may help explain continued pressure on the shares after earnings. Read More.
• Negative Sentiment: Several law firms publicized an existing securities class action concerning alleged statements about Gemini 3.5 Pro training results. The repeated notices do not indicate separate new cases, but the litigation could add legal and reputational risk. Read More.

Insider Activity

In related news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares of the company’s stock, valued at $6,494,424.20. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 247 shares of company stock valued at $79,238 in the last three months. Insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $280.03 on Wednesday. Alphabet Inc. has a twelve month low of $270.70 and a twelve month high of $408.61. 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 stock has a market cap of $3.42 trillion, a P/E ratio of 14.62, a PEG ratio of 0.84 and a beta of 1.23. The company’s 50-day simple moving average is $336.39 and its 200 day simple moving average is $339.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The company had revenue of $127.58 billion during the quarter, compared to the consensus estimate of $127.96 billion. As a group, research analysts forecast that Alphabet Inc. will post 19.86 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, December 7th will be paid a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 4.59%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Thursday, October 15th. JPMorgan Chase & Co. upped their target price on Alphabet from $420.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Barclays restated an “overweight” rating and issued a $405.00 price objective (down from $425.00) on shares of Alphabet in a research note on Thursday, October 29th. Citigroup decreased their price target on shares of Alphabet from $447.00 to $375.00 and set a “buy” rating for the company in a report on Friday, October 30th. Finally, Cantor Fitzgerald dropped their price target on Alphabet from $420.00 to $350.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $412.51.

About Alphabet

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.