Baird Financial Group Inc. Sells 485,703 Shares of Alphabet Inc. $GOOG

Baird Financial Group Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,271,798 shares of the information services provider’s stock after selling 485,703 shares during the quarter. Alphabet makes up approximately 3.0% of Baird Financial Group Inc.’s holdings, making the stock its 3rd largest holding. Baird Financial Group Inc.’s holdings in Alphabet were worth $2,216,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Providence Wealth Advisors LLC raised its position in shares of Alphabet by 0.3% in the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after acquiring an additional 29 shares during the period. One Charles Private Wealth Services LLC boosted its holdings in Alphabet by 0.6% in the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock worth $1,390,000 after buying an additional 29 shares during the last quarter. Wisconsin Wealth Advisors LLC boosted its holdings in Alphabet by 1.3% in the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider’s stock worth $785,000 after buying an additional 29 shares during the last quarter. Cannon Financial Strategists Inc. increased its stake in Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after buying an additional 30 shares in the last quarter. Finally, Financial Enhancement Group LLC raised its holdings in shares of Alphabet by 2.3% during the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after acquiring an additional 30 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG opened at $335.45 on Friday. The firm has a 50-day simple moving average of $344.76 and a two-hundred day simple moving average of $341.64. The stock has a market cap of $4.10 trillion, a PE ratio of 16.85, a P/E/G ratio of 0.96 and a beta of 1.21. Alphabet Inc. has a 1-year low of $236.68 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.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The firm 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%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 EPS. As a group, analysts forecast that Alphabet Inc. will post 20.52 EPS for the current year.

Alphabet Announces Dividend

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

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOG shares. DA Davidson lowered their price target on Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. TD Cowen restated a “buy” rating and issued a $475.00 price target on shares of Alphabet in a research report on Thursday, July 23rd. Zacks Research cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Roth Capital lifted their price objective on Alphabet from $435.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company lowered their price objective on Alphabet from $418.00 to $411.00 and set an “overweight” rating on the stock 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 issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $415.55.

Insider Buying and Selling at Alphabet

In other news, Director John Hennessy sold 1,050 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is currently owned by insiders.

About Alphabet

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.

Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.