Alphabet Inc. $GOOGL Holdings Reduced by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 54.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,539 shares of the information services provider’s stock after selling 92,618 shares during the quarter. Pzena Investment Management LLC’s holdings in Alphabet were worth $27,024,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GOOGL. State Street Corp increased its position in Alphabet by 5.6% during the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock worth $85,403,303,000 after purchasing an additional 12,718,127 shares during the last quarter. Amundi boosted its holdings in shares of Alphabet by 4.6% in the 2nd 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. boosted its holdings in shares of Alphabet by 10.1% in the 2nd 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 during the last quarter. Swiss National Bank boosted its holdings in shares of Alphabet by 7.1% in the 1st quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake 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 period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.8%

GOOGL stock opened at $298.70 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $329.12 and a 200-day simple moving average of $338.21. The company has a market capitalization of $3.67 trillion, a P/E ratio of 15.59, a PEG ratio of 0.88 and a beta of 1.23. Alphabet Inc. has a twelve month low of $270.70 and a twelve month high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.02 by ($0.90). The company had revenue of $127.58 billion during the quarter, compared to analyst estimates of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. On average, equities research analysts predict that Alphabet Inc. will post 19.81 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Top Alphabet Stories

Here are a few of the latest stories about GOOGL:

• Positive Sentiment: An economist cited Alphabet’s search distribution, advertising business and ability to generate cash as reasons it may be well-positioned despite the AI sell-off. The view supports the case that established customer reach can help the company monetize AI. Is It Too Late to Buy the Dip? 3 Corners of the Market Still Offering Real Value
• Negative Sentiment: Investors remain concerned that heavy AI data-center spending could weigh on cash flow, even as the underlying cloud and advertising businesses remain attractive. This could limit near-term enthusiasm if returns on the investment take time to materialize. Alphabet: Punished For Its Cash Flow, Not Its Business
• Negative Sentiment: A lawsuit against Google and other AI developers seeks to halt frontier AI development, creating potential regulatory and operational uncertainty. Separately, securities class actions allege investors were misled about Gemini development and disclosures; the allegations are not proven, but add legal overhang. Lawsuit Seeks to Halt Frontier AI Development

Insider Buying and Selling at Alphabet

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 transaction, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 247 shares of company stock valued at $79,238. 11.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. Cantor Fitzgerald reduced their target price on Alphabet from $420.00 to $350.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Thursday, October 15th. Rosenblatt Securities dropped their price target on Alphabet from $410.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Wedbush cut their price objective on Alphabet from $445.00 to $387.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Finally, Yorkville Ives assumed coverage on Alphabet in a research note on Monday, October 5th. They issued an “outperform” rating and a $400.00 price objective on the stock. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $412.51.

Alphabet Company Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.