Alphabet Inc. $GOOG Shares Purchased by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management increased its Alphabet stake by 2.2% in the second quarter, adding 5,945 shares for a total of 281,482 shares valued at approximately $99.5 million. Institutional investors and hedge funds collectively own 27.26% of Alphabet.
• Analysts remain bullish on GOOG: the stock has a consensus “Buy” rating and an average price target of $415.55, with recent targets ranging from $420 to $465.
• Alphabet reported quarterly earnings of $9.11 per share and revenue of $119.8 billion, exceeding estimates, while revenue increased 24.2% year over year. The company also declared a quarterly dividend of $0.22 per share.

Perigon Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,482 shares of the information services provider's stock after buying an additional 5,945 shares during the quarter. Alphabet makes up approximately 1.6% of Perigon Wealth Management LLC's portfolio, making the stock its 12th largest holding. Perigon Wealth Management LLC's holdings in Alphabet were worth $99,456,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC purchased a new position in shares of Alphabet in the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $41,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in Alphabet in the 4th quarter valued at $45,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines 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

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. BMO Capital Markets raised their price objective on Alphabet from $455.00 to $465.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Truist Financial dropped their target price on shares of Alphabet from $430.00 to $420.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Barclays reissued an "overweight" rating and issued a $425.00 price target (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. 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 given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Buy" and an average target price of $415.55.

Alphabet Price Performance

NASDAQ:GOOG opened at $341.75 on Monday. Alphabet Inc. has a one year low of $202.13 and a one year high of $404.47. The stock has a market cap of $4.18 trillion, a PE ratio of 17.16, a P/E/G ratio of 0.96 and a beta of 1.23. 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 50 day moving average price of $350.34 and a 200 day moving average price of $339.69.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.87 by $6.24. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. Equities research analysts expect that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet's payout ratio is currently 4.42%.

Insider Buying and Selling

In other news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,945 shares of company stock worth $12,382,714 in the last quarter. 12.99% of the stock is currently owned by insiders.

About Alphabet

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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