Hodges Capital Management Inc. Buys 3,045 Shares of Alphabet Inc. $GOOG

Key Points

• Hodges Capital Management increased its Alphabet stake by 11.5% in the first quarter, buying 3,045 additional shares and bringing its total holding to 29,541 shares worth about $8.47 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus $2.68 expected and revenue of $109.9 billion, up 21.8% year over year.
• Market sentiment remains constructive: analysts point to Alphabet’s AI and cloud strengths, and the stock has a consensus “Buy” rating with an average price target of $376.19.

Hodges Capital Management Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,541 shares of the information services provider's stock after buying an additional 3,045 shares during the quarter. Hodges Capital Management Inc.'s holdings in Alphabet were worth $8,474,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Nvest Wealth Strategies Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the 4th quarter valued at $38,000. Imprint Wealth LLC bought a new position in Alphabet in the 3rd quarter valued at $31,000. Bard Associates Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $41,000. Finally, Towne Trust Company N.A grew its position in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after purchasing an additional 34 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts and market commentators highlighted Alphabet’s AI advantage, arguing that its control of Search, Android, YouTube, Google Cloud and its chip/model stack gives it one of the best paths to monetize AI at scale. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Google Cloud-related partnerships remain a tailwind, including Accenture’s launch of agentic AI solutions built with Alphabet’s Google Cloud for mid-market firms, reinforcing demand for its enterprise AI offerings. Accenture and Alphabet (GOOGL) Launch Agentic AI Solutions for Mid-Market Firms
• Positive Sentiment: Alphabet’s strong quarterly results and cloud growth continue to drive bullish takes, with investors pointing to revenue growth, AI spending efficiency, and improving profitability as reasons the stock could outperform. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $356.24 on Friday. The stock has a market cap of $4.32 trillion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 1.53 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $175.74 and a 1-year high of $404.47. The stock's 50-day moving average is $369.66 and its 200 day moving average is $335.08.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the prior year, the firm earned $2.81 earnings per share. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio is currently 6.71%.

Insider Buying and Selling

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director owned 18,833 shares of the company's stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,465 shares of company stock worth $8,020,511 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $416.00 price objective on Alphabet in a research report on Thursday, July 2nd. Scotiabank restated an "outperform" rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. The Goldman Sachs Group restated a "buy" rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. KeyCorp reaffirmed an "overweight" rating on shares of Alphabet in a report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Buy" and a consensus target price of $376.19.

Alphabet Company Profile

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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