Kelleher Financial Advisors boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 63.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,845 shares of the information services provider's stock after purchasing an additional 36,212 shares during the period. Alphabet makes up about 4.7% of Kelleher Financial Advisors' portfolio, making the stock its 3rd largest holding. Kelleher Financial Advisors' holdings in Alphabet were worth $32,805,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. EJMK Ventures LLC raised its position in shares of Alphabet by 37.5% during the second quarter. EJMK Ventures LLC now owns 5,183 shares of the information services provider's stock worth $1,831,000 after purchasing an additional 1,414 shares during the period. Sutton Place Investors LLC raised its position in Alphabet by 1.8% during the second quarter. Sutton Place Investors LLC now owns 3,850 shares of the information services provider's stock valued at $1,360,000 after buying an additional 68 shares during the period. GSA Capital Partners LLP purchased a new stake in Alphabet in the 2nd quarter worth about $214,000. Russell Investments Group Ltd. increased its stake in Alphabet by 9.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,235,434 shares of the information services provider's stock valued at $2,554,543,000 after buying an additional 629,555 shares during the period. Finally, Stoneridge Investment Partners LLC lifted its position in Alphabet by 6.0% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 11,921 shares of the information services provider's stock worth $4,252,000 after buying an additional 679 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have commented on the stock. Freedom Capital raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Royal Bank Of Canada restated a "buy" rating and set a $475.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. Wedbush started coverage on shares of Alphabet in a research report on Thursday, July 16th. They issued an "outperform" rating and a $445.00 price target for the company. Finally, DA Davidson decreased their price target on Alphabet from $375.00 to $350.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. Six research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $415.55.
Read Our Latest Report on GOOG
Alphabet Stock Performance
Shares of Alphabet stock opened at $341.75 on Friday. The firm has a fifty day moving average of $350.34 and a two-hundred day moving average of $339.73. 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 has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.95 and a beta of 1.23. Alphabet Inc. has a 52 week low of $202.13 and a 52 week high of $404.47.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same period last year, the company earned $2.31 EPS. The firm's revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced 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. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's dividend payout ratio (DPR) is 4.42%.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: AI infrastructure expansion: Alphabet’s expanded custom-silicon relationship with Marvell covers components connected to Google’s TPU ecosystem, including inference accelerators, networking, storage, and memory products. The agreement gives Alphabet more supply-chain flexibility and supports continued AI capacity growth, although it may increase dependence on multiple chip partners. Jensen Huang Thinks This Chip Stock Could Hit $1 Trillion
- Positive Sentiment: Waymo growth: Alphabet’s autonomous-driving unit received approval to operate thousands of robotaxis in Nevada and has expanded its lower-cost next-generation vehicles to riders in Los Angeles, Phoenix, and San Francisco. Waymo also introduced a custom AI chip designed to reduce reliance on Nvidia and AMD, potentially improving long-term economics. Robotaxi Permits in Nevada
- Positive Sentiment: Investor and analyst support: Berkshire Hathaway significantly increased its Alphabet position, reinforcing the view that the company fits a value-oriented investment strategy. Rosenblatt initiated coverage with a “Buy” rating, while analysts continue to point to resilient Search, fast-growing Cloud, and strong earnings momentum. Berkshire’s Alphabet Investment
- Neutral Sentiment: DeepMind leadership transition: Nobel Prize-winning co-founder Demis Hassabis is moving from day-to-day management to chairman and chief scientist roles, while Koray Kavukcuoglu will oversee operations. The change could improve Alphabet-wide AI coordination, but investors may monitor execution and retention risks. DeepMind Leadership Change
- Negative Sentiment: Firebase enforcement risk: Indian authorities directed Google to remove hundreds of Firebase accounts allegedly used in bank impersonation scams. The action could increase compliance costs and renew concerns about misuse of Alphabet’s platforms. India Orders Removal of Firebase Accounts
Insider Activity at Alphabet
In related news, insider John Kent Walker sold 8,998 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares of the company's stock, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $333.39, for a total transaction of $27,337.98. Following the completion of the sale, the director owned 18,914 shares in the company, valued at $6,305,738.46. This trade represents a 0.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 451,945 shares of company stock valued at $12,382,714. Insiders own 12.99% of the company's stock.
About Alphabet
(
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.
Further Reading
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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.
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