Wed Sep 25 07:53:15 UTC 2024: ## Studio Investment Management Boosts Alphabet Holdings, Other Investors Follow Suit

**New York, NY** – Studio Investment Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the second quarter, according to the company’s latest Form 13F filing with the Securities and Exchange Commission. The firm now owns 54,561 shares of the tech giant, representing 2.3% of its portfolio.

This move comes as several other hedge funds and institutional investors also adjusted their holdings in Alphabet. Christopher J. Hasenberg Inc. significantly increased its stake by 75.0% in the second quarter, while Vermillion & White Wealth Management Group LLC, Tributary Capital Management LLC, Kings Path Partners LLC, and Denver PWM LLC all purchased new stakes in the company.

Overall, 40.03% of Alphabet’s stock is currently owned by hedge funds and other institutional investors, demonstrating continued confidence in the company.

Meanwhile, Alphabet insiders have been actively trading their shares. SVP Prabhakar Raghavan sold 3,262 shares on July 1st, while CEO Sundar Pichai sold 22,500 shares on July 17th. These transactions, disclosed in SEC filings, amounted to $600,175.38 and $4,113,900.00, respectively.

Alphabet reported strong earnings for the second quarter, exceeding analysts’ estimates with $1.89 earnings per share and $84.74 billion in revenue. The company also recently announced a quarterly dividend of $0.20 per share, representing a 0.49% yield.

Analysts remain positive about Alphabet’s future prospects. Citigroup, Cantor Fitzgerald, Piper Sandler, Guggenheim, and Truist Financial all issued ratings and price targets for the stock, with the majority recommending a “buy” or “overweight” stance.

Overall, Alphabet’s stock is currently rated “Moderate Buy” with an average price target of $201.08.

Read More