William John Sempolinski purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,584 shares of the information services provider’s stock, valued at approximately $1,620,000.
Other institutional investors have also added to or reduced their stakes in the company. Denali Advisors LLC grew its position in shares of Alphabet by 14.8% during the 2nd quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider’s stock worth $37,449,000 after purchasing an additional 13,700 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its position 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 buying an additional 2,850 shares in the last quarter. Heck Capital Advisors LLC raised its position in shares of Alphabet by 298.2% in the second quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider’s stock valued at $7,854,000 after buying an additional 16,647 shares in the last quarter. Violich Capital Management Inc. boosted its stake in shares of Alphabet by 1.0% in the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after buying an additional 3,378 shares during the period. Finally, Montchanin Asset Management LLC acquired a new stake in Alphabet during the first quarter worth approximately $7,075,000. 27.26% of the stock is currently owned by institutional investors.
Insider Activity at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of Alphabet stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 451,925 shares of company stock valued at $12,371,544 over the last ninety days. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Up 0.0%
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Thursday, July 23rd. 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 firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. During the same quarter last year, the business posted $2.31 EPS. The company’s revenue was up 24.2% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 20.5 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is currently 4.42%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Raymond James Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 target price on Alphabet in a report on Thursday, July 23rd. HSBC set a $515.00 target price on Alphabet in a report on Friday, August 14th. Pivotal Research boosted their price target on Alphabet from $470.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Rosenblatt Securities initiated coverage on Alphabet in a research note on Thursday, August 20th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus price target of $415.55.
Get Our Latest Stock Report on Alphabet
Key Alphabet News
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
Alphabet Company Profile
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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