Pennington Partners & CO. LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 397.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,004 shares of the information services provider’s stock after purchasing an additional 14,386 shares during the period. Alphabet makes up 1.8% of Pennington Partners & CO. LLC’s portfolio, making the stock its 8th biggest position. Pennington Partners & CO. LLC’s holdings in Alphabet were worth $5,164,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in GOOG. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Imprint Wealth LLC acquired a new stake in Alphabet in the 3rd quarter valued at $31,000. Bard Associates Inc. bought a new stake in Alphabet in the fourth quarter valued at $41,000. Finally, Towne Trust Company N.A grew its position in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on GOOG shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Thursday. Barclays restated an “overweight” rating and issued a $425.00 target price (up from $405.00) on shares of Alphabet in a research note on Thursday. Wedbush assumed coverage on shares of Alphabet in a research report on Thursday, July 16th. They set an “outperform” rating and a $445.00 target price for the company. Freedom Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, KeyCorp set a $445.00 price target on shares of Alphabet in a research report on Friday, July 10th. Six analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average target price of $410.09.
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 8,998 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,415 shares of company stock worth $7,672,279. Corporate insiders own 12.99% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $319.09 on Monday. The business’s fifty day moving average is $360.63 and its two-hundred day moving average is $337.53. 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 firm has a market cap of $3.87 trillion, a P/E ratio of 16.03, a P/E/G ratio of 1.08 and a beta of 1.23. Alphabet Inc. has a 52 week low of $188.70 and a 52 week high of $404.47.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. During the same period last year, the company posted $2.31 earnings per share. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 17.25 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 4.42%.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet posted a strong Q2 beat, with revenue and EPS coming in ahead of expectations, while Google Cloud revenue surged 82% and cloud margins improved sharply.
- Positive Sentiment: AI and product demand remain strong, with management saying AI usage is rising across Search, Cloud, and Gemini, supporting the long-term growth story.
- Positive Sentiment: Several analysts reiterated bullish views or raised targets, and multiple commentary pieces argued the stock looks attractive after the pullback.
- Positive Sentiment: Verizon signed a deal worth more than $1 billion with Google for dark fiber connectivity, adding another sign of infrastructure demand tied to Alphabet’s data-center buildout. Article Title
- Neutral Sentiment: Waymo is reportedly considering ending its Uber partnership, which could affect how quickly Alphabet’s robotaxi business scales, but the direct financial impact is still unclear. Article Title
- Neutral Sentiment: Alphabet also disclosed a large SpaceX stake and saw some institutional holders trim positions, but these items are secondary to the main debate over AI spending and cash flow.
- Negative Sentiment: Investors were unnerved by Alphabet’s higher CapEx guidance and negative free cash flow, which raised concerns that AI spending may be outpacing near-term returns.
- Negative Sentiment: Alphabet was also hit by an EU antitrust fine of about $1 billion, adding another regulatory overhang. Article Title
- Negative Sentiment: Moody’s warned that the industry-wide AI buildout could threaten credit quality at Alphabet and other hyperscalers, reinforcing concerns about balance-sheet strain from heavy infrastructure investment. Article Title
Alphabet Company Profile
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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