Montgomery Financial Services LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,511 shares of the information services provider’s stock, valued at approximately $887,000. Alphabet makes up about 0.8% of Montgomery Financial Services LLC’s holdings, making the stock its 14th largest position.
A number of other institutional investors have also recently made changes to their positions in GOOG. Providence Wealth Advisors LLC lifted its position in Alphabet by 0.3% in the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock valued at $3,094,000 after acquiring an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC increased its holdings in shares of Alphabet by 0.6% in the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock worth $1,390,000 after purchasing an additional 29 shares in the last quarter. Wisconsin Wealth Advisors LLC increased its holdings in shares of Alphabet by 1.3% in the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider’s stock worth $785,000 after purchasing an additional 29 shares in the last quarter. Cannon Financial Strategists Inc. raised its stake in shares of Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after purchasing an additional 30 shares during the last quarter. Finally, Financial Enhancement Group LLC raised its stake in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock worth $380,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Stable search traffic eases competitive concerns. Bank of America reportedly found no meaningful deterioration in Google’s web-traffic data, helping counter fears that AI search tools are taking share from Alphabet’s core search business. Bank of America Spots Reassuring Signal for Google Stock
- Positive Sentiment: Cloud and AI commercialization continue to expand. Google Cloud and Accenture are forming a unit with 1,000 engineers to help enterprises deploy Google’s AI products. Alphabet is also reportedly selling TPU systems directly to customers, potentially creating a new hardware revenue stream, while Google Cloud chief Thomas Kurian claimed the company’s AI-chip business is more than twice the size of its closest rival. Google Cloud and Accenture AI Unit
- Positive Sentiment: Energy and infrastructure access may support AI expansion. A $1.9 billion U.S. Energy Department loan to NextEra Energy will help revive an Iowa nuclear plant intended to supply power for Google, potentially improving Alphabet’s long-term access to reliable electricity for data centers. Google’s Revived Nuclear Power Plant Loan
- Neutral Sentiment: Investors remain divided over valuation and capital spending. Analysts and commentators view GOOG as attractively valued relative to cloud growth, but Alphabet’s massive AI-related capital expenditures are pressuring near-term free cash flow and contributing to volatility.
- Negative Sentiment: Project Braid data-center delays raise execution concerns. Alphabet and Blackstone’s AI-cloud venture reportedly faces delays at major data-center sites, highlighting the permitting, construction and power challenges slowing the broader AI buildout. Google and Blackstone Venture Faces Delays
- Negative Sentiment: EU search changes could hurt user experience and business economics. Google says modifications required under the Digital Markets Act will reduce search quality, favor intermediaries over local businesses and increase costs, while exposing Alphabet to continuing regulatory pressure. Google Warns of Lower-Quality European Search Results
Analyst Upgrades and Downgrades
Get Our Latest Report on Alphabet
Alphabet Trading Up 0.0%
Shares of NASDAQ:GOOG opened at $335.38 on Wednesday. The stock has a market capitalization of $4.10 trillion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The stock’s 50-day simple moving average is $346.28 and its two-hundred day simple moving average is $341.40. Alphabet Inc. has a 52-week low of $233.38 and a 52-week high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 EPS. Analysts expect that Alphabet Inc. will post 20.5 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.
Insider Buying and Selling at Alphabet
In related news, Director John Hennessy sold 1,050 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director directly owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is owned by insiders.
About Alphabet
Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.
Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.
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