Keenan Capital LLC Makes New Investment in Alphabet Inc. $GOOG

Key Points

• Keenan Capital LLC acquired 76,000 Alphabet shares in the second quarter, valued at approximately $26.9 million and representing 5.3% of its portfolio. Institutional investors and hedge funds collectively own 27.26% of Alphabet.
• Wall Street remains broadly bullish: Alphabet has a consensus “Buy” rating and an average price target of $415.55, supported by six Strong Buy and 30 Buy ratings.
• Alphabet reported strong quarterly results, with EPS of $9.11 and revenue of $119.8 billion, while AI expansion supports growth prospects. However, investors remain focused on the roughly $200 billion AI infrastructure spending plan, rising data-center costs and competition from major AI rivals.

Keenan Capital LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 76,000 shares of the information services provider's stock, valued at approximately $26,853,000. Alphabet accounts for 5.3% of Keenan Capital LLC's investment portfolio, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC raised its position in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC raised its stake in shares of Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider's stock worth $330,886,000 after acquiring an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Alphabet in the second quarter worth about $658,000. Financial Advisors Network Inc. lifted its position in shares of Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider's stock worth $1,409,000 after purchasing an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. lifted its position in shares of Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider's stock worth $6,618,000 after purchasing an additional 3,616 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. KeyCorp set a $445.00 price target on Alphabet in a research note on Friday, July 10th. HSBC set a $515.00 price objective on Alphabet in a research report on Friday, August 14th. DZ Bank raised shares of Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. Oppenheimer reissued an "outperform" rating and set a $400.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Wedbush assumed coverage on shares of Alphabet in a report on Thursday, July 16th. They issued an "outperform" rating and a $445.00 price target on the stock. Six investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $415.55.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Alphabet Stock Up 1.5%

GOOG stock opened at $335.45 on Friday. The stock's 50 day simple moving average is $344.76 and its 200 day simple moving average is $341.64. The company has a market cap of $4.10 trillion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a fifty-two week low of $236.68 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its 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. The firm had revenue of $119.80 billion during 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%. The business's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 EPS. On average, research analysts expect that Alphabet Inc. will post 20.52 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet 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 value of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 451,925 shares of company stock worth $12,371,544 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

About Alphabet

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google's core internet businesses from a collection of other ventures. Google remains Alphabet's largest business and serves users, advertisers, businesses and developers worldwide.

Google's principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.

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