JLB & Associates Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 53,802 shares of the information services provider's stock, valued at approximately $19,010,000. Alphabet accounts for about 2.5% of JLB & Associates Inc.'s investment portfolio, making the stock its 15th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in Alphabet during the third quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet during the 4th quarter worth about $38,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet during the 4th quarter worth about $38,000. Bard Associates Inc. acquired a new stake in Alphabet during the 4th quarter worth about $41,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of Alphabet in the 4th quarter worth about $45,000. Institutional investors own 27.26% of the company's stock.
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 82 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total transaction of $27,337.98. Following the transaction, the director directly owned 18,914 shares of the company's stock, valued at $6,305,738.46. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares in the company, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 451,945 shares of company stock worth $12,382,714. 12.99% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GOOG. Scotiabank reissued an "outperform" rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their target price on Alphabet from $460.00 to $420.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Piper Sandler reissued an "overweight" rating and issued a $395.00 price target (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Finally, Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 27th. Six investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $415.55.
Check Out Our Latest Stock Report on GOOG
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google is expanding Gemini’s commercial reach by allowing Wix users to create complete websites within Google’s AI assistant. The move could increase Gemini engagement and strengthen Alphabet’s position in generative AI applications. Google Is Turning Gemini Into a Website Builder
- Positive Sentiment: Google Cloud entered an enterprise AI partnership with Verizon, supporting Alphabet’s efforts to monetize AI infrastructure and services with large corporate customers. Alphabet's Google Cloud Enters Enterprise AI Partnership With Verizon
- Positive Sentiment: Investment commentary remains constructive on Alphabet’s sustainable growth outlook, citing its competitive advantages, strong profitability, revenue momentum and expanding cloud business. Alphabet’s Sustainable Growth Outlook Appears Stronger Than Expectations
- Positive Sentiment: Google reportedly plans to move all Pixel manufacturing out of China by 2027, shifting production toward Vietnam and India. The change could diversify supply chains and reduce geopolitical exposure, although transition costs remain possible. Google Plans to Move Pixel Manufacturing Out of China
- Neutral Sentiment: Alphabet was among the technology and social-media stocks showing strength, reflecting broader sector momentum rather than a company-specific catalyst. Social-Media Trade Splits
- Neutral Sentiment: Investors are watching a recently announced Google agreement with Marvell, which could provide additional insight into Alphabet’s AI hardware and data-center requirements when Marvell reports earnings. Marvell Earnings and Google Agreement
- Negative Sentiment: Analysts flagged negative free cash flow as a concern because Alphabet’s AI leadership requires heavy spending on data centers, chips and infrastructure. A potential $25 billion bond offering and reported off-balance-sheet commitments are also prompting capital-allocation questions. Alphabet Opinions on AI Advancements and Bond Offering
- Negative Sentiment: A delay in the next Gemini Pro release could leave Alphabet without a new flagship model tier in the near term, raising concerns about AI product execution and competitive pressure. Gemini Pro Delay
Alphabet Price Performance
Shares of NASDAQ GOOG opened at $344.59 on Tuesday. The firm has a market capitalization of $4.21 trillion, a P/E ratio of 17.31, a P/E/G ratio of 0.96 and a beta of 1.23. The firm's 50-day moving average price is $349.89 and its 200-day moving average price is $339.72. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $205.95 and a 1-year high of $404.47.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its 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. 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 the consensus estimate of $116.53 billion. During the same period last year, the business posted $2.31 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued 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 is presently 4.42%.
Alphabet Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
