Evanson Financial LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 145,926 shares of the information services provider’s stock, valued at approximately $51,560,000. Alphabet comprises about 2.5% of Evanson Financial LLC’s holdings, making the stock its 13th largest position.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gerber Kawasaki Wealth & Investment Management boosted its holdings in shares of Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after acquiring an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after acquiring an additional 4,239 shares during the period. Violich Capital Management Inc. increased its holdings in shares of Alphabet by 1.0% in the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after acquiring an additional 3,378 shares during the period. Montchanin Asset Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $7,075,000. Finally, Robinhood Asset Management LLC purchased a new stake in Alphabet in the 4th quarter valued at $20,337,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s planned 10-part bond offering of up to $25 billion was met with approximately $115 billion in investor orders, indicating strong confidence in the company’s credit quality and long-term AI strategy. The funds are intended to support data-center expansion and other infrastructure investments. Google’s AI Bond Sale Attracts $115 Billion of Orders
- Positive Sentiment: Google Cloud continues to benefit from strong AI demand, while AI lab Mirendil signed a multiyear, $100 million-plus agreement to obtain computing capacity from Google Cloud. Such contracts could help monetize Alphabet’s substantial AI infrastructure spending. Mirendil Inks $100M+ Google Cloud Deal
- Neutral Sentiment: The debt sale gives Alphabet additional flexibility to fund its roughly $205 billion AI infrastructure plan, but it also increases borrowing and raises questions about returns on capital. Strong demand for the bonds reduces near-term financing risk, although investors are likely to scrutinize spending discipline and future profitability. Alphabet Seeks Up to $25 Billion From Bond Sale
- Negative Sentiment: Alphabet is facing renewed concerns about its ability to lead in frontier AI after chief scientist Jeff Dean departed to launch a startup with other researchers, while DeepMind chief Demis Hassabis moved away from day-to-day management into a broader chief scientist role. The departures heighten fears of a talent drain and potential disruption to Gemini and other AI initiatives. Google Shakes Up AI Leadership
- Negative Sentiment: Commentary suggests Google Cloud’s commercial growth is competing for scarce computing resources and management attention with DeepMind’s longer-term AI research, adding execution risk as Alphabet attempts to scale both businesses. Alphabet’s Cloud Growth Straining Its Frontier AI Push
Insider Buying and Selling
Analysts Set New Price Targets
GOOG has been the topic of several research reports. Wedbush initiated coverage on shares of Alphabet in a research report on Thursday, July 16th. They set an “outperform” rating and a $445.00 price objective on the stock. Scotiabank reaffirmed an “outperform” rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Truist Financial decreased their target price on shares of Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 price target on Alphabet in a report on Thursday, July 23rd. Finally, DZ Bank upgraded Alphabet to a “strong-buy” rating in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $410.09.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Performance
NASDAQ:GOOG opened at $356.62 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The firm has a market cap of $4.36 trillion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The firm’s fifty day moving average price is $354.40 and its 200 day moving average price is $338.85. Alphabet Inc. has a 1-year low of $195.22 and a 1-year high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. Alphabet’s quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, September 4th. Alphabet’s payout ratio is 4.42%.
About Alphabet
Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.
Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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