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Tag: Alphabet

  • Gradient Capital Advisors LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

    Gradient Capital Advisors LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

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    Gradient Capital Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,955 shares of the information services provider’s stock after purchasing an additional 1,715 shares during the quarter. Alphabet makes up about 1.1% of Gradient Capital Advisors LLC’s holdings, making the stock its 25th biggest position. Gradient Capital Advisors LLC’s holdings in Alphabet were worth $2,927,000 at the end of the most recent reporting period.

    Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meritage Group LP boosted its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC boosted its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC boosted its stake in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Alphabet in the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after acquiring an additional 392 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

    Analyst Upgrades and Downgrades

    A number of research firms have weighed in on GOOGL. Wolfe Research boosted their target price on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen boosted their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Finally, KeyCorp boosted their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

    Check Out Our Latest Stock Report on GOOGL

    Alphabet Price Performance

    Shares of NASDAQ:GOOGL opened at $171.95 on Monday. Alphabet Inc. has a one year low of $103.54 and a one year high of $174.71. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05. The company’s fifty day moving average price is $147.85 and its 200-day moving average price is $141.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

    Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the company earned $1.05 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current fiscal year.

    Alphabet Dividend Announcement

    The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

    Insider Activity

    In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 0.88% of the company’s stock.

    Alphabet Profile

    (Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    See Also

    Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

    Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • “Big Short” Investor Michael Burry Has 10% of His Portfolio in 2 “Magnificent Seven” AI Stocks

    “Big Short” Investor Michael Burry Has 10% of His Portfolio in 2 “Magnificent Seven” AI Stocks

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    Many people know Michael Burry from the book The Big Short, or the movie that was based on it. Both chronicled the story of a ragtag group of investors who bet against the U.S. housing market before the 2008-2009 financial crisis, shorting mortgage-backed securities at a time when everyone else thought housing was set to go up forever. Burry is still investing today, and runs Scion Asset Management.

    In 2023’s fourth quarter, Scion Asset Management reported two purchases that may surprise his value-investing followers: Amazon (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOG). These “Magnificent Seven” growth stocks have typically been shunned by value investors due to their high earnings multiples. Yet as of the end of 2023, they made up 10% of Burry’s stock portfolio.

    So why did Burry open positions in Amazon and Alphabet?

    Amazon: Profits are finally arriving

    At first glance, Amazon seems overvalued. Its price-to-earnings ratio (P/E) of 62 is more than twice the average of the S&P 500 index (28, as of this writing). However, when you look under the hood, it is clear that Amazon did not show its true profit potential in 2023. Throughout last year, the e-commerce and cloud computing giant expanded its operating margin, leading to approximately 7.5% margins for the last two quarters. That was up significantly from the 2.5% margins it posted in late 2022 and early 2023.

    Had Amazon been earning a 7.5% profit margin for the entire year on its total revenue of $575 billion, it would have generated $43 billion in profits in 2023. Against its current market cap of $1.9 trillion, that would have given it a P/E of 44. But even this doesn’t tell the full story. Amazon’s profit margins should continue to move higher in 2024, for multiple reasons. First, its high-margin cloud computing division, Amazon Web Services (AWS), continues to shine. Second, it is seeing strong growth from higher-margin e-commerce services such as third-party selling management and advertising. Advertising revenues, for reference, grew by 26% year over year last quarter.

    If Amazon’s profit margin reaches 10% in 2024 and its revenue grows by 10% to $630 billion, it will generate $63 billion in earnings this year. That would give it a P/E of 30, or right around the S&P 500’s average. Burry likely anticipates that profit inflection happening as well, which would explain why he is buying shares for Scion Asset Management’s portfolio.

    AMZN PE Ratio Chart

    Alphabet: From AI loser to AI winner

    Burry’s other Magnificent Seven bet, Alphabet, is not optically expensive, but it faced some major negative narratives throughout 2023. At the beginning of 2023, the tech giant traded at a P/E ratio below 15, likely due to investor fears that it was losing the race in AI to upstarts such as OpenAI. Today, it trades at a P/E of 27, which is still slightly below the S&P 500 average, even though the stock is up 77% year to date.

    Burry and other investors likely expect Alphabet to maintain its overwhelming share of the search market, which gives it a lucrative digital advertising business. Google Search’s market share has remained remarkably steady despite all these new AI competitors, at over 90% according to the latest estimates. In the fourth quarter of 2023, Google Search revenue grew 12.7% year over year to $48 billion.

    Alphabet also has promising businesses in YouTube and Google Cloud. YouTube is the dominant player in video streaming worldwide, generating $9.2 billion in advertising revenue last quarter and hitting 100 million premium subscribers. Google Cloud does right around the same in quarterly revenue and is growing sales by 25% year over year.

    If Alphabet maintains its lead in Google Search and keeps growing YouTube and Google Cloud, the stock will likely do well over the long term.

    Learn from investing greats, but don’t copy them

    Looking through the portfolio holdings of famous investors can be insightful. But nobody should be out there blindly buying up every company in Burry’s portfolio.

    First off, we outsiders can’t know what Burry’s actual theses are on these two stocks. His reasons for holding them may differ from your own, and that could create some discomfort for you if the stocks start falling. Second, the investing public only finds out about hedge funds’ moves through their 13-F filings with the Securities and Exchange Commission. These filings are due a month and a half after the end of the quarter they cover, and the most recent ones describe where their portfolios stood at the end of 2023. As such, we can have no idea if Burry has bought or sold Amazon and Alphabet shares in 2024, or if he even has any exposure to the stocks right now. This informational time lag makes trying to copy the moves of famous investors a dangerous idea.

    Learn from the investing greats, but don’t copy them. It’s better to build your portfolio with stocks you believe in, not stocks you believe that others believe in.

    Should you invest $1,000 in Amazon right now?

    Before you buy stock in Amazon, consider this:

    The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

    Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.

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    *Stock Advisor returns as of April 4, 2024

    John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Brett Schafer has positions in Alphabet and Amazon. The Motley Fool has positions in and recommends Alphabet and Amazon. The Motley Fool has a disclosure policy.

    “Big Short” Investor Michael Burry Has 10% of His Portfolio in 2 “Magnificent Seven” AI Stocks was originally published by The Motley Fool

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  • Retirement Guys Formula LLC Has $1.12 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

    Retirement Guys Formula LLC Has $1.12 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

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    Retirement Guys Formula LLC grew its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 11.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,945 shares of the information services provider’s stock after purchasing an additional 827 shares during the quarter. Retirement Guys Formula LLC’s holdings in Alphabet were worth $1,120,000 at the end of the most recent reporting period.

    Other hedge funds and other institutional investors also recently made changes to their positions in the company. Totem Point Management LLC lifted its stake in Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F raised its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $2,564,000. Hall Capital Management Co. Inc. boosted its stake in Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. raised its stake in Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

    Wall Street Analysts Forecast Growth

    Several equities research analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $146.33.

    Read Our Latest Stock Analysis on GOOG

    Alphabet Stock Performance

    Shares of GOOG stock opened at $155.87 on Wednesday. The business’s 50-day moving average price is $145.15 and its 200-day moving average price is $139.74. Alphabet Inc. has a 12 month low of $102.38 and a 12 month high of $157.00. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

    Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same period last year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 6.77 EPS for the current year.

    Insider Buying and Selling

    In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 228,239 shares of company stock valued at $32,432,382 over the last ninety days. 12.99% of the stock is owned by company insiders.

    Alphabet Profile

    (Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    Further Reading

    Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).

    Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

    Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Magnolia Capital Management Ltd. Buys 1,015 Shares of Alphabet Inc. (NASDAQ:GOOG)

    Magnolia Capital Management Ltd. Buys 1,015 Shares of Alphabet Inc. (NASDAQ:GOOG)

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    Magnolia Capital Management Ltd. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,390 shares of the information services provider’s stock after purchasing an additional 1,015 shares during the quarter. Alphabet accounts for 2.1% of Magnolia Capital Management Ltd.’s portfolio, making the stock its 10th largest holding. Magnolia Capital Management Ltd.’s holdings in Alphabet were worth $2,310,000 as of its most recent SEC filing.

    Several other institutional investors and hedge funds have also modified their holdings of GOOG. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. FMR LLC lifted its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. Morgan Stanley lifted its holdings in Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after buying an additional 19,612,974 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

    Analyst Ratings Changes

    Several research analysts have issued reports on GOOG shares. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $146.33.

    Read Our Latest Report on GOOG

    Alphabet Stock Performance

    Shares of Alphabet stock opened at $151.77 on Monday. The firm has a fifty day moving average of $144.27 and a two-hundred day moving average of $139.09. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 52 week low of $100.28 and a 52 week high of $155.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

    Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.

    Insider Activity at Alphabet

    In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders sold a total of 279,659 shares of company stock worth $39,460,310 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

    Alphabet Profile

    (Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    Recommended Stories

    Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).

    Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

    Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Ready to Invest in Artificial Intelligence (AI)? 2 Nvidia Alternatives

    Ready to Invest in Artificial Intelligence (AI)? 2 Nvidia Alternatives

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    The broad surge of interest in artificial intelligence (AI) has been boosting the stock market for more than a year now, stretching back to OpenAI’s release of the ChatGPT chatbot in November 2022.

    Since then, a handful of early leaders in AI technology have soared into the stratosphere. AI accelerator chips drove Nvidia‘s stock more than 410% higher in 16 months. High-performance computer systems builder Super Micro Computer rose even faster with a 1,100% gain over the same period.

    I understand if you hesitate to buy shares in these skyrocketing AI stocks. What goes up must not necessarily come back down quickly, but the valuation risk is real.

    Don’t worry, though. There are many ways to tap into the AI boom without relying on the most obvious (and perhaps overvalued) market darlings.

    Right now, I see deep value and exciting AI-driven growth in the next few years for Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and chip manufacturer Taiwan Semiconductor Manufacturing (NYSE: TSM).

    Taiwan Semiconductor: Delivering AI chips to a hungry world

    The demand for AI-driven computing power is skyrocketing. Taiwan Semiconductor, or TSMC for short, is at the heart of this technological shift.

    In January’s fourth-quarter earnings call, CEO C.C. Wei pointed out that more complex AI software requires more raw computing power, so the demand for faster and more energy-efficient chips should keep rising over time. As an industry-leading provider of advanced manufacturing technologies, Wei’s company is poised to benefit from this massive demand surge for years to come.

    “The value of TSMC’s technology position is increasing, and we are all well positioned to capture the major portion of the market in terms of semiconductor components in AI,” Wei said.

    Wei’s analysis highlights TSMC’s strategic position to make the most of the ongoing explosion in AI applications. Although its stock performance has been decent, with a roughly 70% rise since November 2022, TSMC’s crucial role in enabling the next wave of AI advancements suggests the stock has room to grow.

    Every chip designer worth its silicon wants to tap into the AI frenzy, and TSMC is there to turn its clients’ visionary AI dreams into physical chips. For example, Nvidia is one of the company’s most important customers. TSMC lets you invest in a company that’s powering the future of technology, making it a prudent behind-the-scenes choice amid the AI boom.

    Alphabet: Time to cash in on decades of quiet AI leadership

    Alphabet’s commitment to integrating AI across its suite of advertising products underscores its strategic vision.

    The Google parent’s senior leadership is clear on AI’s transformative potential. In its fourth-quarter call, Chief Business Officer Philipp Schindler emphasized the company’s long-standing commitment to AI-driven tools and platforms.

    “AI has been at the core of our advertising products for a very, very long time,” Schindler said. “And the recent advances are really allowing us to drive more value for advertisers across a large range of different areas: bidding, targeting, creative, as well as our core advertiser and publisher experiences.”

    Alphabet’s measured approach to AI integration should keep the company near the absolute top of consumer-facing online services for years to come. At the same time, the stock’s modest gains during the AI surge suggest an underappreciated upside. Trading at a modest 23 times earnings with stock gains barely beating the broader market in the last 16 months, Alphabet’s stock isn’t getting the AI-based respect it deserves from market makers.

    The company’s innovations, particularly in making advanced AI tools accessible to a broader range of advertisers, position it to leverage the next wave of AI advancements. For investors, Alphabet is not just keeping pace with AI evolution but is actively leading it. This company’s role in the digital economy could become even more indispensable over time.

    In other words, Alphabet looks like an undervalued AI titan today. Don’t hesitate to give this stock a serious look the next time you have some investable cash in search of a forever home.

    Should you invest $1,000 in Alphabet right now?

    Before you buy stock in Alphabet, consider this:

    The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Alphabet wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

    Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.

    See the 10 stocks

    *Stock Advisor returns as of March 8, 2024

    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Anders Bylund has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Super Micro Computer. The Motley Fool has a disclosure policy.

    Ready to Invest in Artificial Intelligence (AI)? 2 Nvidia Alternatives was originally published by The Motley Fool

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  • Alphabet Falls From 3rd- to 5th-Largest U.S. Company. Should You Buy, Sell, or Hold the Stock?

    Alphabet Falls From 3rd- to 5th-Largest U.S. Company. Should You Buy, Sell, or Hold the Stock?

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    Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is better known by some of the brands it owns, like Google and YouTube. It’s one of the largest tech companies and one of the members of the exclusive trillion-dollar market-cap club. However, thanks to other tech giants posting strong quarters, it has lost its place as the third-largest U.S. company behind Microsoft and Apple. Nvidia and Amazon have now passed it, although Amazon may fall beneath Alphabet on a day-to-day basis.

    So, is there something wrong with the stock? Let’s look at all sides of the analysis, then decide which camp is best.

    The sell case: Alphabet’s AI offering may not work out

    The biggest factor in many big tech companies’ success right now is artificial intelligence (AI). AI progress and optimism is why Nvidia has shot up so dramatically over the past year, and what propelled Microsoft to pass Apple as the world’s largest company.

    From the start, Alphabet has appeared behind in the AI race. It lost to ChatGPT as the first to launch a usable generative AI product, and to Microsoft’s Bing as the first search engine to integrate generative AI. Additionally, its generative AI engine, Gemini, has recently been subjected to bad press, as its image generation feature failed to depict accurate images of prompts.

    The big problem is that if Alphabet’s AI model is flawed, or shows a particular bias, it can affect its primary business: advertising. The Gemini model will become the basis of everything Alphabet does, and if it causes issues with Alphabet’s advertising model, advertisers may look elsewhere to spend. Considering that 76% of Alphabet’s total revenue comes from ads, this would be a big problem.

    The hold case: Alphabet isn’t sitting around doing nothing

    Alphabet is well aware of the issues with its Gemini model. It apologized for the image generation issue and vowed to improve the platform. Additionally, just because the consumer-facing model does one thing doesn’t mean that there isn’t a different model being used internally to perform tasks like improving search results.

    The Gemini model still scores better than many competitors in tasks like math and coding, making it a clear choice for many applications.

    While time will tell what Alphabet does, investors should be assured that the company isn’t letting a generational investment opportunity slip by.

    The buy case: Alphabet’s stock is far cheaper than its peers

    Because of Alphabet’s various problems, there isn’t much of a premium attached to the stock. Alphabet is trading for just 21 times earnings estimates, the same as the S&P 500.

    GOOGL PE Ratio (Forward) Chart

    GOOGL PE Ratio (Forward) Chart

    Essentially, the market is valuing Alphabet like an average company. While this assessment may be fair due to its lackluster performance in critical product development, if Alphabet hits its stride, the company will look incredibly undervalued.

    As another side note, if Alphabet fetched the same premium as Microsoft (35 times forward earnings), its market cap would be $2.95 trillion — making it the second-largest company in the world and only a bit behind Microsoft at $3.05 trillion.

    Perception is a big part of how stocks are valued in the market, and market sentiment about Alphabet isn’t great right now.

    What’s the verdict?

    So, which viewpoint makes the most sense?

    In my opinion, the stock is a buy. The other big tech firms are expensively priced, and not doing so much better that they warrant those massive premiums. As a result, Alphabet is one of my top tech stocks to buy right now.

    Should you invest $1,000 in Alphabet right now?

    Before you buy stock in Alphabet, consider this:

    The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Alphabet wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

    Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.

    See the 10 stocks

    *Stock Advisor returns as of February 26, 2024

    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Keithen Drury has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

    Alphabet Falls From 3rd- to 5th-Largest U.S. Company. Should You Buy, Sell, or Hold the Stock? was originally published by The Motley Fool

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  • Waymo Will Bring Autonomous Taxis to Los Angeles—Its Biggest Challenge Yet

    Waymo Will Bring Autonomous Taxis to Los Angeles—Its Biggest Challenge Yet

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    Paid autonomous vehicle service is coming to Los Angeles, thanks to a decision by California regulators today to allow Alphabet subsidiary Waymo to operate in the city. Under the new ruling, Waymo is also permitted to launch service in a large section of the San Francisco Peninsula.

    The decision by the California Public Utilities Commission will likely prove controversial. It comes over the protest of local governments and agencies, including the Los Angeles Department of Transportation, the San Francisco County Transportation Authority, the city of South San Francisco, and the County of San Mateo. All argued that local government and citizens should have more input and oversight over the expanded autonomous taxi service.

    But California laws allow state regulators, not local ones, to make decisions about where and how self-driving vehicles can operate in the state—a fact that the CPUC cited in today’s decision.

    In a written statement, Waymo spokesperson Julia Ilina said that the company will “take a careful and incremental approach to expansion by continuing to work closely with city officials, local communities, and our partners.” She noted that CPUC received 81 letters from individuals and organizations supporting Waymo’s expansions, including groups representing people with disabilities and business interests.

    Ilina said the company will take an “incremental approach” to introducing service in LA, and has “no immediate plans” to expand its commercial service into the San Francisco Peninsula.

    The decision presents Waymo with what could be its biggest challenge yet: service in the second-largest American city by population, closely observed by government officials who have been skeptical of its technology from the start. Last fall, LA mayor Karen Bass wrote to California regulators to argue that her city has the technical know-how and capacity to determine how and where self-driving cars should operate within its limits. She cited robotaxi companies’ initial troubles operating on streets in San Francisco and argued that city officials were best positioned to “maximize the benefits of new transportation technologies and mitigate harm across our diverse communities.”

    The California legislature is considering several bills that would give local lawmakers more oversight over autonomous-vehicle technology.

    Waymo currently operates a paid taxi service in the city of San Francisco and in metro Phoenix, Arizona. The company has operated a pilot service in sections of Los Angeles since the fall. Waymo has also announced its intention to launch service in Austin, Texas.

    The company’s initial LA service area encompasses a hearty chunk of the city, from the Pacific Palisades to the west, Hollywood to the north, East Los Angeles to the east, and Gardena and Compton to the south. In the San Francisco Bay Area, riders will now be able to catch robotaxi rides between San Francisco and Sunnyvale, bounded by Interstate 280 to the west.

    Autonomous vehicle developers have had a tough couple of months. After Waymo and General Motors subsidiary Cruise received permission to start collecting passenger fares in San Francisco last summer, both companies were involved in high-profile crashes. In one incident, a Cruise vehicle collided with a fire truck after it failed to yield to the vehicle in an intersection. Two months later, Cruise had its permit to operate in California yanked after public officials alleged that the company hadn’t been forthcoming about the details of a collision that seriously injured a pedestrian. Cruise has since halted testing across the nation, laid off nearly a quarter of its employees, and replaced almost all of its leading executives. Another company, Motional, said it would lay off 5 percent of its staff this week after a major supporter said it would reduce its funding.

    But in Los Angeles and the Bay Area, at least, driverless technology’s future is looking up: Waymo may begin its fared driverless passenger service in the expanded area “effective today,” the CPUC wrote.

    Updated: 3/11/2024, 7:38 pm EST: This story has been updated to include further comment from Waymo.

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  • Missed Out on Nvidia? 1 Artificial Intelligence (AI) Growth Stock to Buy Now and Hold for a Decade or Longer

    Missed Out on Nvidia? 1 Artificial Intelligence (AI) Growth Stock to Buy Now and Hold for a Decade or Longer

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    Semiconductor stocks have been on fire ever since ChatGPT was launched in late 2022. Since then, a slew of new generative artificial intelligence (AI) applications have made cutting-edge graphics processing units that can handle accelerated applications a hot commodity. As Nvidia (NASDAQ: NVDA) is the leader in that subset of the chip market, its sales and stock price have been rocketing higher.

    After watching Nvidia’s share price rise by 222% during the 12-month period that ended Wednesday, some investors are justifiably nervous that the stock has gotten too far ahead of itself.

    Nvidia will report its fiscal fourth-quarter results on Feb 21. During its fiscal third quarter, which ended Oct. 29, total revenue surged 206% year over year.

    Its valuation of about 97 times trailing earnings isn’t unreasonable if you assume continued growth at its present rate. However, the semiconductor industry is famously cyclical. Demand for chips that can power generative AI applications will eventually crash. We just don’t know when that crash will come. If you buy Nvidia at this inflated valuation and the bottom falls out next year, you could suffer heavy losses.

    For most folks who missed the boat on Nvidia, climbing aboard now entails more risk than they can tolerate. If you want to hitch your portfolio to a major player in the AI revolution with significantly less risk, consider buying shares of Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) now to hold for the long run.

    Alphabet’s AI prowess is better than you think

    The AI gold rush started when OpenAI launched ChatGPT about a year and a half ago. By that time, though, Alphabet had already been an AI-first company for several years. In a 2016 blog post, Alphabet CEO Sundar Pichai told everyone that “in the next 10 years, we will shift to a world that is AI-first, a world where computing becomes universally available.”

    If it didn’t have an army of engineers skilled in the arts of machine learning, Google wouldn’t be able to recognize poor spelling in search queries or rank search results properly. With AI working behind the scenes to provide better results, Google has captured a 91.5% share of the global search market, according to Statcounter. Microsoft, a tech giant currently worth over $3 trillion, launched Bing nearly 15 years ago, but it still has just 3.4% of the global market for search.

    Google Maps has over a billion monthly users, and millions of businesses eagerly use the platform to attract new customers. Maps is another AI-heavy application — it wouldn’t be able to forecast traffic or recommend improved routes without the contributions of some of the AI industry’s most valuable talent.

    Why Alphabet is well positioned for AI’s next chapter

    In addition to a search business that dominates its competitors, Alphabet is a leading provider of cloud computing services. Late last year, its cloud offering became a lot more valuable with the addition of Gemini.

    OpenAI caught Alphabet flatfooted when it launched ChatGPT in late 2022. In a nutshell, Gemini offers a similar generative AI experience for consumers with the chatbot formerly known as Bard. Gemini also gives enterprise-sized Google Cloud customers a chance to build AI applications of their own.

    With several applications that boast over a billion active users per month, Google can offer enterprise-level cloud customers access to reams of real-world data they won’t find anywhere else.

    Individual investor looking at a lot of stock charts.

    Image source: Getty Images.

    A fair price

    Google Cloud sales rose 26% year over year in the third quarter. With a large addressable market and an advantage over competitors who don’t dominate the markets for search and location data, investors can reasonably expect strong growth from its cloud business for another decade.

    The vast majority of Alphabet’s revenues and profits still come from Google Services. This segment is growing more slowly than its cloud business, but it’s still a long way from stagnation. Google Services revenue rose 12.5% year over year in the fourth quarter. Over the same time frame, operating income from the services segment jumped 32%.

    With advantages over the competition, and its two main operating segments growing by double-digit percentages, Alphabet should be valued at a high earnings multiple — but it isn’t. You can buy the stock for around 21 times forward earnings expectations.

    There’s no such thing as a risk-free growth stock. With reliable earnings from advertising and cloud services, though, buying Alphabet at a reasonable valuation gives you an excellent chance to come out ahead over the long run. With its firm toehold in the rapidly evolving AI space, it also has a chance to become a top performer. Buying some shares now to hold for the long run looks like a smart move.

    Should you invest $1,000 in Alphabet right now?

    Before you buy stock in Alphabet, consider this:

    The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Alphabet wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

    Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.

    See the 10 stocks

    *Stock Advisor returns as of February 12, 2024

    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

    Missed Out on Nvidia? 1 Artificial Intelligence (AI) Growth Stock to Buy Now and Hold for a Decade or Longer was originally published by The Motley Fool

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  • Big Tech Earnings Recap: The Numbers and What CEOs Are Saying About 2024

    Big Tech Earnings Recap: The Numbers and What CEOs Are Saying About 2024

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    Big Tech companies closed 2023 with a blowout quarter. Getty Images/Observer

    This week, five of the stock market’s “Magnificent Seven”—Alphabet (GOOGL), Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta (META)—reported financial results for the last quarter of 2023. Big Tech companies closed a year full of bold headlines: Alphabet’s YouTube reached 100 million subscribers; Microsoft launched a suite of A.I. products and finalized its acquisition of gaming behemoth Activision Blizzard; Apple debuted the iPhone 15 and released its Vision Pro VR headset (It’s available in stores today (Feb. 2)); Meta began paying its first ever cash dividend; and Amazon further expanded its e-commerce offerings and upped its game in video streaming.

    Here is a recap of Big Tech’s overall blowout Q4 and what their CEOs said on earnings calls.

    Alphabet

    • Quarterly revenue: $86.3 billion, up 13 percent from a year ago
    • Net income: $20.69 billion, or $1.64 per share
    • Advertising revenue: $65.52 billion

    Google (GOOGL)’s ad revenue for the December quarter included $48 billion from Google Search and approximately $9.2 billion from YouTube. On a call with analysts on Jan. 30, CEO Sundar Pichai touted the rapid growth of YouTube, calling it a “key driver of our subscription revenue.”

    The tech giant also reported the first time that YouTube had more than 100 million paid subscribers at the end of 2023. The video platform plowed in as much revenue as Google’s cloud business, which also saw strong growth in the fourth quarter.

    Microsoft

    • Quarterly revenue: $62 billion, up 18 percent from a year ago
    • Net income: $21.9 billion, or $2.93 per share
    • Cloud revenue: $33 billion, up 24 percent from a year ago

    Microsoft drew headlines throughout 2023 for its many initiatives, from deepened collaboration with OpenAI to legal progress in its $68.7 billion acquisition of Activision Blizzard.

    On the earnings call on Jan. 30, CEO Satya Nadella emphasized the company’s transition from experimenting with A.I. to applying the technology at scale, with A.I. capabilities being integrated across Microsoft’s product offerings, from Microsoft Copilot to Azure AI to GitHub Copilot, the popular A.I. developer tool.

    “We’re using this A.I. inflection point to redefine our role in business applications,” Nadella told analysts.

    Apple

    • Quarterly revenue: $119.6 billion, up 2 percent from a year ago
    • Net income: $33.9 billion, or $2.18 per share
    • iPhone revenue: $69.7 billion, up 6 percent from a year ago

    iPhones continued to dominate Apple’s revenue makeup, accounting for roughly 60 percent of its Q4 sales. The Mac segment generated $7.8 billion in revenue, returning to growth, while iPad revenue fell 25 percent from the previous year to $7 billion. The sharp decline was in part due to Apple’s lack of new iPad models in 2023. 

    Apple’s revenue in the “Wearables, Home, and Accessories” business fell 11 percent year-over-year to $12 billion. This decline was offset by a 11 percent growth in the “Services” unit, which includes Apple TV+, Apple News+ and Apple One bundles. The unit reported $23.1 billion in revenue in the December quarter, a record high. 

    Apple reported earnings a day before its Vision Pro headset arrived in stores in the U.S. On yesterday’s earnings call, CEO Tim Cook called the Vision Pro “the most advanced personal electronics device ever. We can’t wait for people to experience the magic for themselves.”

    Amazon

    • Quarterly revenue: $169.9 billion, up 14 percent from a year ago
    • Net income: $10.6 billion, or $1.00 per share
    • e-Commerce revenue: $70.54 billion, up 8 percent from a year ago
    • AWS revenue: $24.2 billion, up 13 percent from a year ago

    Amazon saw record user acitivites during last quarter’s Black Friday and Cyber Monday shopping events, where customers purchased over 1 billion items on Amazon globally. In the U.S., over 500 million items were ordered from independent sellers, attracting millions of new Prime memberships. Throughout 2023, Amazon provided its fastest-ever global delivery to Prime members, delivering over 7 billion units the same or the next day.

    “This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023,” CEO Andy Jassy said on the earnings call yesterday.

    Amazon plans to increase capital expenditures in 2024, particularly in expanding its A.I. efforts. The company just launched Rufus, an A.I.-powered shopping assistant. In addition, its recent move to display ads on Prime Video aims to leverage Amazon’s massive audience for advertising expansion. In the fourth quarter, Amazon generated $14.7 billion in ad revenue, up 26.7 percent from a year ago.

    Meta

    • Quarterly revenue: $40.1 billion, up 25 percent from a year ago
    • Net income: $14 billion, or $5.33 per share (up 300 percent from a year ago)

    Meta tripled profits in the December quarter, in part thanks to aggressive cost-cutting in the previous months. The tech giant also announced its inaugural cash dividend of $0.50 per share during the earnings call yesterday. 

    Meta’s family of social media apps, including Facebook, Instagram, Threads and WhatsApp, had 3.19 billion daily active users at the end of 2023. Threads, Meta’s answer to Elon Musk’s X, had 130 million monthly active users at the end of last year. CFO Susan Li said on the earnings call Meta would no longer report Facebook-specific numbers, suggesting a shift away from its legacy social media platforms. Altogether, revenue from the total family of apps came at $39 billion during the quarter, a 24 percent increase from the previous year. 

    Looking into 2024, CEO Mark Zuckerberg promised significant investments in A.I. for foundational research and product development, expecting capital expenditures to be between $30 billion and $37 billion this year. “Moving forward, a major goal will be building the most popular and most advanced A.I. products and services,” Zuckerberg said on yesterday’s earnings call.

    Big Tech Earnings Recap: The Numbers and What CEOs Are Saying About 2024



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  • Alphabet Inc. (NASDAQ:GOOGL) is Nisa Investment Advisors LLC’s 6th Largest Position

    Alphabet Inc. (NASDAQ:GOOGL) is Nisa Investment Advisors LLC’s 6th Largest Position

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    Nisa Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,862,481 shares of the information services provider’s stock after selling 72,583 shares during the quarter. Alphabet makes up approximately 1.9% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 6th largest position. Nisa Investment Advisors LLC’s holdings in Alphabet were worth $243,724,000 at the end of the most recent quarter.

    Several other large investors have also recently made changes to their positions in the company. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. Maple Capital Management Inc. grew its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares in the last quarter. West Family Investments Inc. grew its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC grew its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

    Analyst Upgrades and Downgrades

    Several brokerages have issued reports on GOOGL. BMO Capital Markets began coverage on Alphabet in a report on Tuesday, January 9th. They issued an “outperform” rating and a $170.00 target price for the company. Wedbush restated an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Rosenblatt Securities upped their price target on Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Tigress Financial upped their price target on Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 21st. Finally, Piper Sandler upped their price target on Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.15.

    Get Our Latest Stock Analysis on GOOGL

    Alphabet Trading Down 1.3 %

    GOOGL opened at $151.46 on Wednesday. Alphabet Inc. has a one year low of $88.57 and a one year high of $153.78. The company has a market cap of $1.90 trillion, a P/E ratio of 29.07, a PEG ratio of 1.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The business’s 50-day simple moving average is $139.41 and its 200-day simple moving average is $134.57.

    Insider Activity

    In other news, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,439 shares of company stock worth $25,954,116. 0.88% of the stock is currently owned by insiders.

    Alphabet Profile

    (Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    See Also

    Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).

    Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

    Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Alphabet misses expectations on Google ad revenue, sending stock lower

    Alphabet misses expectations on Google ad revenue, sending stock lower

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    Google parent company Alphabet (GOOG, GOOGL) reported its fourth quarter earnings after the bell on Tuesday, missing analysts’ expectations on ad revenue, the heart of the tech giant’s business.

    The stock slid 4% lower in extended trading.

    Revenue, excluding traffic acquisition costs for the third quarter, was $72 billion versus expectations of nearly $71 billion. That’s higher than the $63.12 billion the company generated during the same period in the prior year. But investors seemed to focus on the advertising miss.

    The company reported continued growth in its cloud business, which has grown in importance to investors because of its usefulness in the development of AI. Google Cloud revenue beat expectations, crossing $9 billion, amounting to a 26% jump from a year ago. The company has been pushing to claim additional market share in the cloud computing market, where it currently sits in third place behind competitors Amazon (AMZN) and Microsoft (MSFT).

    Here are some of Alphabet’s most significant metrics compared to what Wall Street was expecting in the company’s fiscal fourth quarter, according to data from Bloomberg:

    • Revenue, excluding traffic acquisition costs: $72.32 billion vs. $70.97 billion expected ($63.12 billion in Q4 2022)

    • Adjusted earnings per share: $1.64 vs. $1.59 expected ($1.05 in Q4 2022)

    • Cloud revenue: $9.19 billion vs. $8.95 billion expected ($7.32 billion in Q4 2022)

    • Ad revenue: $65.5 billion vs. $65.8 billion expected ($59.04 billion in Q4 2022)

    During a call with analysts, both CEO Sundar Pichai and CFO Ruth Porat noted the importance of streamlining the business to achieve cost savings and efficiency.

    “Across different teams we have wound down some non-priority projects which will help us invest and operate well in our growth areas,” said Pichai.

    Porat said the company is focused on removing organizational layers to boost efficiency, which has resulted in a slower pace of hiring. But she added that the company will continue to invest in top talent.

    The earnings report arrives just weeks after Google laid off hundreds of workers across multiple divisions as the company aims to cut expenses and focus on growth areas, including AI. The tech giant joins several of its peers and others across corporate America that have relied on layoffs to boost efficiency in the wake of significant expansions in the COVID era.

    Google’s executives also responded to concerns that the advancement of AI may disrupt the company’s search products since generative AI chatbots change the way people interact with the web.

    Pichai said that AI tools expand Google’s arsenal, which offers a breadth and depth of information to users who crave a diversity of sources online.

    Google has been widely seen as playing catch-up to Microsoft, which was among the first in the tech world to reap the cultural excitement around consumer AI chatbots. Microsoft invested in OpenAI, the company behind the popular chatbot ChatGPT.

    Google has embarked on a host of efforts to both augment its search tools with AI (Bard and Search Generative Experience) and to offer new, advanced large language models, like Gemini.

    Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on Twitter @hshaban.

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  • Five Big Tech companies with combined market value of over $10 trillion to report earnings this week

    Five Big Tech companies with combined market value of over $10 trillion to report earnings this week

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    Investors wondering where the S&P 500 is headed, at least for the next month or so, will want to pay attention to three key days this week.

    Between Tuesday and Thursday, five Big Tech companies with a combined market value of more than $10 trillion will report earnings: Microsoft Corp., Alphabet Inc., Meta Platforms Inc., Amazon.com Inc. and Apple Inc. Meanwhile, the Federal Reserve will issue its decision on interest rates, followed by Chair Jerome Powell’s press conference where he’s expected to discuss the outlook ahead.

    The stakes couldn’t be much higher, with the S&P 500 Index pushing deeper into record territory on bets that central bankers are poised to began easing monetary policies and tech behemoths like Microsoft getting more valuable by the day.

    “Tech disproportionately moved the market last year and big tech continues to have the biggest earnings power, so the results will be crucial for the markets,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.

    After a shaky start to the year, the S&P 500 is rising again and on pace for a third monthly advance that’s added more than 18% since late October, when the index hit a near-term low before Fed officials started signaling that rate hikes were over. 

    The rally is again being led by megacaps including Microsoft, Alphabet, Amazon.com, Nvidia and Meta Platforms, which were responsible for a majority of the index’s 24% gain last year as investors became captivated by the possibilities of artificial intelligence services. The so-called Magnificent Seven, which also includes Tesla Inc., just hit a record 29% of the S&P 500 despite a slump in shares of the electric-vehicle maker that’s erased more than $200 billion in market value just this month.

    AI Booming

    Microsoft and Alphabet will kick off earnings on Tuesday after markets close. The two companies are among the best positioned to benefit from the AI boom after investing heavily in the field for years. Microsoft has been adding the features to its suite of software products, and investors are betting that AI will soon start boosting profit and sales growth.

    On Wednesday, the focus shifts to the end of the Fed’s January meeting, where it’s expected to hold interest rates steady for a fourth-consecutive meeting. Traders will be primarily focused on what Powell and other policymakers have to say about the timing of easing. Recent data showing inflation continuing to recede and resilient US economic growth suggest central bankers won’t be in a hurry to cut interest rates.

    Apple is the biggest draw on Thursday, when Amazon and Facebook-owner Meta Platforms also report in the afternoon. The iPhone maker has been dogged by concerns about revenue growth and is expected to report its first sales expansion in four quarters.

    Read more: Apple veteran instrumental to iPhone development leaves for electric-vehicle maker Rivian: ‘Now is the time for me to move on’

    With most of the megacaps in record territory, there are concerns that investors are over exposed to just a handful of stocks, which could open the door for some pain if quarterly results underwhelm.

    The Magnificent Seven stocks were again named the most crowded trade in a Bank of America survey of fund managers, according to a research note published by the bank last week.

    No Protection

    Still, traders aren’t rushing to scoop up hedges against declines, according to options market data.

    A gauge of projected price swings in Apple in the next three months is hovering near the lowest level in six years. Traders expect a 3.3% move in the stock in either direction a day after the results, which would be among the narrowest post-earnings swings in two years.

    Projected three-month volatility in Meta Platforms, which more than quadrupled since its November 2022 nadir, is at the lowest in two years. The cost of protection against a 10% decline in Microsoft in the next month is hovering near the lowest level since August relative to the cost of options that profit from a similar rally.

    Tesla demonstrated the risks last week after missing fourth-quarter earnings estimates and warning that its sales growth would be “notably lower” in 2024. The stock tumbled 12% the following day, its biggest drop in a year.

    Microsoft recently overtook Apple as the world’s most valuable company with a market value above $3 trillion. The rally has made the stock even more expensive, at 33 times profits projected over the next 12 months compared with an average of 24 times over the past decade.

    To Jason Benowitz, senior portfolio manager at CI Roosevelt, there’s no doubt the megacap trade is crowded. But that doesn’t mean the stocks can’t continue to rally with economic growth slowing and easing financial conditions.

    “There’s a good reason for the crowded trade,” he said. “The environment is good for them.”

    Subscribe to the Eye on AI newsletter to stay abreast of how AI is shaping the future of business. Sign up for free.

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  • Google’s new crypto ad policy boosts Bitcoin ETF visibility

    Google’s new crypto ad policy boosts Bitcoin ETF visibility

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    Google, a subsidiary of tech conglomerate Alphabet, is on the verge of a significant policy update set to take effect on Jan. 29, which could alter the landscape of cryptocurrency advertising.

    Now that the U.S. Securities and Exchange Commission’s (SEC) approved 11 spot Bitcoin (BTC) ETFs on Jan. 10, Google is expected to amend its rules and enable asset managers to advertise these products to a broader U.S. audience.

    This move follows Google’s recent decision to broaden its cryptocurrency and related products’ policy, now providing advertisers with specific guidelines for promoting what it calls “cryptocurrency coin trusts.”

    Advertisers eager to capitalize on Google’s platform, renowned for its expansive reach and high search volume, will now require certification to ensure compliance with the tech giant’s stringent requirements.

    The significance of this development is highlighted by the Grayscale Bitcoin Trust (GBTC) converting to a spot Bitcoin ETF, coupled with the sanctioning of 10 other institutions to include spot BTC ETFs in their investment portfolios.

    Crypto analysts are optimistic about the ramifications of this policy change on the digital currency sphere, as Google processes around 8.55 billion searches daily, according to DemandSage.

    Can Google Ads tip the scales for Bitcoin ETFs?

    The crypto community speculates that the heightened visibility of Bitcoin ETFs through Google’s ad platform may drive substantial awareness and investment in the space.

    As such, companies operating within the spot Bitcoin ETF market could potentially witness a significant influx of interest from new segments of the public — not just from seasoned day traders or investors.

    The update could also signal a shift in how cryptocurrency products are advertised, ensuring that ads meet legal requirements and are responsibly presented to an engaged audience.

    Google’s policy change arrives at an opportune moment. The crypto market has seen fluctuating investor sentiment toward spot Bitcoin ETFs over the past week.

    On Jan. 24, Bitcoin ETFs saw an influx of approximately $270 million, counterbalanced by significant withdrawals — most notably from Grayscale Investment’s Bitcoin ETF—totaling a net outflow of around $153 million. 

    The trend did not improve, with Jan. 25 witnessing a continuation of the withdrawal streak, marking a fourth consecutive day of net outflows over the last week, totaling up to $80 million, specifically from the funds recognized by the SEC.

    Despite these challenging dynamics, crypto commentators feel Google’s policy shift could potentially open doors to a flood of new investors. The increased visibility and imposed certification could counterbalance the recent outflows from the spot Bitcoin ETFs, signaling a possible rebound as we edge closer to the Jan. 29 policy implementation date.


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    Julius Mutunkei

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  • Achmea Investment Management B.V. Has $58.39 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

    Achmea Investment Management B.V. Has $58.39 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

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    Achmea Investment Management B.V. lifted its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 442,810 shares of the information services provider’s stock after buying an additional 9,808 shares during the quarter. Alphabet comprises 1.3% of Achmea Investment Management B.V.’s investment portfolio, making the stock its 9th largest holding. Achmea Investment Management B.V.’s holdings in Alphabet were worth $58,385,000 at the end of the most recent reporting period.

    Other large investors have also made changes to their positions in the company. Tandem Wealth Advisors LLC bought a new stake in Alphabet during the third quarter worth approximately $25,000. HWG Holdings LP bought a new stake in Alphabet during the second quarter worth approximately $26,000. OLD Point Trust & Financial Services N A bought a new stake in Alphabet during the second quarter worth approximately $31,000. Intrepid Capital Management Inc. bought a new stake in Alphabet during the second quarter worth approximately $31,000. Finally, Milestone Wealth LLC boosted its position in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after purchasing an additional 361 shares during the period. Institutional investors own 27.13% of the company’s stock.

    Alphabet Stock Performance

    Shares of NASDAQ GOOG opened at $153.79 on Friday. The business has a fifty day simple moving average of $140.24 and a 200 day simple moving average of $135.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 29.52, a PEG ratio of 1.36 and a beta of 1.06. Alphabet Inc. has a one year low of $88.86 and a one year high of $154.76.

    Insider Activity at Alphabet

    In related news, Director Frances Arnold sold 250 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the transaction, the director now directly owns 14,226 shares in the company, valued at $1,769,145.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Frances Arnold sold 250 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the transaction, the director now directly owns 14,226 shares in the company, valued at $1,769,145.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at $341,163,148.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,459 shares of company stock worth $25,949,772. 12.99% of the stock is owned by corporate insiders.

    Wall Street Analyst Weigh In

    GOOG has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, October 25th. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $133.14.

    Get Our Latest Analysis on GOOG

    Alphabet Profile

    (Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    Further Reading

    Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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  • Sundar Pichai warns Google staff more layoffs are coming | TechCrunch

    Sundar Pichai warns Google staff more layoffs are coming | TechCrunch

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    After laying off over 1,000 workers across multiple divisions last week and cutting 100 jobs at YouTube, Google CEO Sundar Pichai sent a memo to its staff warning more layoffs are expected this year.

    Pichai’s memo said the company will have to make “tough choices” to meet its ambitious goals, as reported by The Verge.

    The CEO said this year’s cuts won’t be at the scale of last year’s job cuts, where the company let go 12,000 people or 6% of its workforce.

    “These role eliminations are not at the scale of last year’s reductions, and will not touch every team. But I know it’s very difficult to see colleagues and teams impacted,” he said in an email to staffers.

    “Many of these changes are already announced, though to be upfront, some teams will continue to make specific resource allocation decisions throughout the year where needed, and some roles may be impacted.”

    Last week’s Google layoffs impacted several teams including hardware, engineering, ads, and services, with over 1,000 staffers laid off. At the time, the company also confirmed to TechCrunch that Fitbit co-founders James Park and Eric Friedman were leaving the organization.

    On Wednesday, Google laid off 100 YouTube staffers as part of reorganization.

    “To best position us for these opportunities, throughout the second half of 2023, a number of our teams made changes to become more efficient and work better, and to align their resources to their biggest product priorities. Some teams are continuing to make these kinds of organizational changes, which include some role eliminations globally,” a Google spokesperson said in a statement in response to YouTube layoffs.

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    Ivan Mehta

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  • So Long, Apple and Tesla. We Built a Better Magnificent 7.

    So Long, Apple and Tesla. We Built a Better Magnificent 7.

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    By Nicholas Jasinski

    Jan 12, 2024, 1:00 am EST

    In this article

    AMZN

    AAPL

    MSFT

    NVDA

    SPX

    The Magnificent Seven had an extraordinary year in 2023—one that will be very difficult to repeat. And there will be a new Magnificent Seven in 2024.

    Continue reading this article with a Barron’s subscription.

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  • Google cuts hundreds of engineering, voice assistance jobs amid cost-cutting drive

    Google cuts hundreds of engineering, voice assistance jobs amid cost-cutting drive

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    Google has laid off hundreds of employees working on its hardware, voice assistance and engineering teams as part of cost-cutting measures.

    The cuts come as Google looks towards “responsibly investing in our company’s biggest priorities and the significant opportunities ahead,” the company said in a statement.

    Separately, Amazon said it is cutting several hundred positions across its Prime Video and MGM Studios unit.

    Google is increasingly focusing on investments in artificial intelligence, as is rival Microsoft, with the latter introducing a Copilot feature that incorporates artificial intelligence into products like search engine Bing, browser Edge as well as Windows for its corporate customers.

    While both tech giants are focused on AI investments, Microsoft is “is taking the clear lead in the AI arms race,” according to a recent research note from Wedbush analyst Dan Ives. 

    The cuts follow pledges by executives of Google and its parent company Alphabet to reduce costs. A year ago, Google said it would lay off 12,000 employees or around 6% of its workforce.

    “Some teams are continuing to make these kinds of organizational changes, which include some role eliminations globally,” it said.

    Google earlier said it was eliminating a few hundred roles, with most of the impact on its augmented reality hardware team.

    “Needless layoffs”

    In a post on X — previously known as Twitter — the Alphabet Workers Union described the job cuts as “another round of needless layoffs.”

    “Our members and teammates work hard every day to build great products for our users, and the company cannot continue to fire our coworkers while making billions every quarter,” the union wrote. “We won’t stop fighting until our jobs are safe!”

    Google is not the only technology company cutting back. In the past year, Meta — the parent company of Facebook — has slashed more than 20,000 jobs to reassure investors. Meta’s stock price gained about 178% in 2023.

    Spotify said in December that it was axing 17% of its global workforce, the music streaming service’s third round of layoffs in 2023 as it moved to slash costs and improve its profitability.

    Amazon job cuts

    Earlier this week, Amazon laid off hundreds of employees in its Prime Video and studios units. It also will lay off about 500 employees who work on its livestreaming platform Twitch.

    Amazon has cut thousands of jobs after a hiring surge during the pandemic. In March, Amazon announced that it planned to lay off 9,000 employees, on top of 18,000 employees it said that it would lay off in January 2023.

    Last month Amazon said that Prime Video users would start seeing ads on movies and television shows starting on January 29, setting a date for an announcement it made back in September.

    Prime members who want to keep their movies and TV shows ad-free will have to pay an additional $2.99 per month.

    Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, said in a note to employees that the company is boosting investment in areas with the most impact, while stepping back from others.

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  • Sundar Pichai Sells 22,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

    Sundar Pichai Sells 22,500 Shares of Alphabet Inc. (NASDAQ:GOOG) Stock

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    Alphabet Inc. (NASDAQ:GOOG – Get Free Report) CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $140.11, for a total transaction of $3,152,475.00. Following the transaction, the chief executive officer now directly owns 2,422,691 shares in the company, valued at approximately $339,443,236.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

    Sundar Pichai also recently made the following trade(s):

    • On Wednesday, December 20th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $141.43, for a total transaction of $3,182,175.00.

    Alphabet Stock Performance

    Alphabet stock opened at $137.39 on Friday. The firm has a market capitalization of $1.72 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.25 and a beta of 1.06. The stock has a fifty day moving average price of $136.01 and a two-hundred day moving average price of $132.42. Alphabet Inc. has a 52-week low of $85.57 and a 52-week high of $143.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01.

    Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, analysts anticipate that Alphabet Inc. will post 5.83 EPS for the current fiscal year.

    Wall Street Analyst Weigh In

    Several research firms recently weighed in on GOOG. Raymond James initiated coverage on shares of Alphabet in a research note on Wednesday, December 20th. They issued an “outperform” rating and a $150.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research report on Wednesday, October 25th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $131.93.

    Get Our Latest Stock Analysis on Alphabet

    Institutional Investors Weigh In On Alphabet

    A number of large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Alphabet by 0.3% during the 1st quarter. BlackRock Inc. now owns 365,927,668 shares of the information services provider’s stock worth $38,056,478,000 after buying an additional 1,230,697 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Alphabet by 94,153.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock valued at $24,261,537,000 after purchasing an additional 200,345,509 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. FMR LLC increased its stake in shares of Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Alphabet by 0.9% during the second quarter. Geode Capital Management LLC now owns 98,217,816 shares of the information services provider’s stock valued at $11,846,230,000 after acquiring an additional 882,830 shares during the period. 27.13% of the stock is currently owned by institutional investors.

    About Alphabet

    (Get Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    See Also

    Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

    Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Level Financial Advisors Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

    Level Financial Advisors Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

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    Level Financial Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,170 shares of the information services provider’s stock after selling 1,248 shares during the quarter. Level Financial Advisors Inc.’s holdings in Alphabet were worth $677,000 at the end of the most recent reporting period.

    A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet during the fourth quarter valued at approximately $8,335,063,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

    Insider Activity

    In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the sale, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $141.43, for a total value of $3,182,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,407,688 shares of the company’s stock, valued at $340,519,313.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now owns 7,384 shares in the company, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,719 shares of company stock valued at $19,632,188. 0.88% of the stock is currently owned by company insiders.

    Alphabet Trading Up 0.5 %

    GOOGL stock opened at $138.92 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $84.86 and a twelve month high of $142.68. The stock has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The firm’s fifty day simple moving average is $134.05 and its two-hundred day simple moving average is $131.29.

    Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, analysts anticipate that Alphabet Inc. will post 5.83 earnings per share for the current year.

    Wall Street Analysts Forecast Growth

    Several equities analysts have weighed in on the stock. Monness Crespi & Hardt downgraded shares of Alphabet from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Wells Fargo & Company lifted their price target on shares of Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a report on Thursday, November 16th. Tigress Financial lifted their price target on shares of Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 21st. Rosenblatt Securities lifted their price target on shares of Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Roth Mkm lifted their price objective on shares of Alphabet from $152.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.53.

    Get Our Latest Stock Analysis on Alphabet

    About Alphabet

    (Free Report)

    Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

    Further Reading

    Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).

    Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

    Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Why Alphabet Could Be the Best Bet Among Magnificent 7 Stocks in the New Year

    Why Alphabet Could Be the Best Bet Among Magnificent 7 Stocks in the New Year

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    Alphabet could be the best bet among the Magnificent Seven stocks that led the market higher in 2023.

    Continue reading this article with a Barron’s subscription.

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