RFG Advisory LLC Acquires 2,585 Shares of Alphabet Inc. $GOOG

RFG Advisory LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 6.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 41,211 shares of the information services provider’s stock after acquiring an additional 2,585 shares during the quarter. RFG Advisory LLC’s holdings in Alphabet were worth $14,561,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at approximately $29,000. Imprint Wealth LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $31,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the 4th quarter valued at approximately $38,000. Bard Associates Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $41,000. Finally, Toth Financial Advisory Corp acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $335.45 on Friday. The firm has a market cap of $4.10 trillion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $344.76 and a 200-day moving average price of $341.64. Alphabet Inc. has a 1-year low of $236.68 and a 1-year high of $404.47.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 20.52 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GOOG shares. BMO Capital Markets upped their price target on shares of Alphabet from $455.00 to $465.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $400.00 target price (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. TD Cowen reiterated a “buy” rating and issued a $475.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Finally, DZ Bank raised Alphabet to a “strong-buy” rating in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $415.55.

Get Our Latest Stock Analysis on GOOG

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kent Walker sold 8,998 shares of Alphabet stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 451,925 shares of company stock worth $12,371,544 in the last quarter. 12.99% of the stock is owned by insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

  • Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
  • Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
  • Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
  • Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
  • Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
  • Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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