Heritage Investors Management Corp Sells 13,966 Shares of Alphabet Inc. $GOOGL

Heritage Investors Management Corp lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 374,536 shares of the information services provider’s stock after selling 13,966 shares during the quarter. Alphabet accounts for approximately 3.7% of Heritage Investors Management Corp’s holdings, making the stock its 4th largest holding. Heritage Investors Management Corp’s holdings in Alphabet were worth $133,848,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Lifetime Wealth Management P.C. acquired a new stake in Alphabet in the 4th quarter worth approximately $32,000. EMC Capital Management purchased a new position in shares of Alphabet in the fourth quarter worth $33,000. IFC & Insurance Marketing Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $52,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Alphabet during the third quarter worth $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 451,945 shares of company stock valued at $12,382,714 in the last quarter. Company insiders own 11.61% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $344.82 on Monday. The firm’s fifty day moving average is $352.00 and its two-hundred day moving average is $341.35. The firm has a market cap of $4.22 trillion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a one year low of $201.30 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Research analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOGL. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a report on Thursday, July 23rd. China Renaissance lifted their price target on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, DA Davidson set a $350.00 price objective on Alphabet and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $420.19.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.