Field & Main Bank Purchases New Position in Alphabet Inc. $GOOG

Key Points

• Field & Main Bank acquired 25,232 Alphabet shares worth approximately $9.0 million in the second quarter, making GOOG its 19th-largest portfolio holding at 1.4%.
• Alphabet reported a strong quarter, with revenue up 24.2% year over year to $119.8 billion and earnings per share of $9.11, well above estimates. Analysts maintain a consensus “Buy” rating with an average price target of $415.55.
• Alphabet’s shares opened at $333.78, while the company declared a quarterly dividend of $0.22 per share. Recent antitrust developments reduced the risk of an AdX forced sale but still require operational changes to its digital advertising business.

Field & Main Bank acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,232 shares of the information services provider's stock, valued at approximately $9,017,000. Alphabet makes up about 1.4% of Field & Main Bank's portfolio, making the stock its 19th largest position.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock worth $132,114,125,000 after buying an additional 8,128,234 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Alphabet by 1.4% in the second quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider's stock valued at $130,704,718,000 after acquiring an additional 5,164,200 shares during the period. State Street Corp boosted its holdings in shares of Alphabet by 0.5% in the fourth quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock valued at $58,712,878,000 after acquiring an additional 953,790 shares during the period. Auto Owners Insurance Co grew its position in shares of Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock worth $5,643,262,000 after acquiring an additional 179,369,280 shares during the last quarter. Finally, J. Stern & Co. LLP grew its position in shares of Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after acquiring an additional 111,699,704 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $333.78 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a fifty day moving average price of $347.01 and a 200 day moving average price of $340.52. Alphabet Inc. has a 1-year low of $225.12 and a 1-year high of $404.47. The company has a market cap of $4.08 trillion, a PE ratio of 16.76, a P/E/G ratio of 0.96 and a beta of 1.21.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Alphabet's quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $2.31 EPS. Sell-side analysts forecast that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is presently 4.42%.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 451,925 shares of company stock valued at $12,371,544 over the last quarter. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. KeyCorp set a $445.00 target price on shares of Alphabet in a report on Friday, July 10th. Wolfe Research reissued an "outperform" rating on shares of Alphabet in a research report on Thursday, August 27th. Barclays restated an "overweight" rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Truist Financial reduced 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. Finally, Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. 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. According to MarketBeat, Alphabet currently has an average rating of "Buy" and a consensus target price of $415.55.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: A federal judge rejected the U.S. Justice Department’s request to force Google to sell its AdX advertising exchange. The ruling removes the most severe breakup risk, although Google must make operational changes to address antitrust concerns. This was the clearest immediate catalyst for Alphabet’s strength. Google defeats US bid to force ad tech sale
• Positive Sentiment: Google launched or prepared to launch Gemini 3.8 Flash, a model designed to improve coding and cybersecurity capabilities. Investors view the release as evidence that Alphabet is narrowing the gap with OpenAI and Anthropic in enterprise AI. Google launches Gemini 3.8 Flash
• Positive Sentiment: Recent reports continue to highlight strong AI demand, cloud revenue growth and expanding infrastructure investment. Alphabet’s latest reported quarter showed 24.2% year-over-year revenue growth and a substantial earnings beat, supporting the view that Cloud and AI can offset pressure on the core advertising business. Alphabet reports strong growth fueled by AI demand and cloud revenue
• Positive Sentiment: Berkshire Hathaway CEO Greg Abel described Alphabet as a significant AI player and explained Berkshire’s decision to make it one of its largest holdings. The endorsement may strengthen investor confidence in Alphabet’s long-term AI strategy. Berkshire CEO discusses Alphabet stake
• Positive Sentiment: Alphabet agreed to purchase roughly 396 megawatts of enhanced-geothermal power from Fervo Energy for a planned Utah data center, with potential expansion toward 1 gigawatt. The agreement supports reliable, lower-carbon electricity for AI infrastructure. Google buys geothermal power from Fervo
• Neutral Sentiment: Waymo expanded paid robotaxi service to Denver, San Diego and Tampa, bringing operations to 14 U.S. cities. The move offers longer-term optionality but is unlikely to materially affect near-term Alphabet earnings. Waymo expands robotaxi service
• Negative Sentiment: The antitrust ruling still found illegal conduct and requires changes to Google’s digital advertising operations, leaving potential compliance costs and future regulatory risk. Judge orders changes to Google ad business
• Negative Sentiment: Analysts and technical commentators warn that GOOG is approaching bear-market territory and testing important support near $323. Concerns about elevated AI capital spending, margin pressure and increasingly intense competition in search advertising could limit further gains.

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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