Kelleher Financial Advisors raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 110.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,268 shares of the information services provider's stock after buying an additional 20,588 shares during the quarter. Alphabet comprises 2.0% of Kelleher Financial Advisors' investment portfolio, making the stock its 15th largest position. Kelleher Financial Advisors' holdings in Alphabet were worth $14,033,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bellars Harris Wealth Management LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $7,160,000. Sutton Place Investors LLC boosted its holdings in Alphabet by 1.3% in the second quarter. Sutton Place Investors LLC now owns 5,602 shares of the information services provider's stock valued at $2,002,000 after acquiring an additional 73 shares in the last quarter. Maridea Wealth Management LLC boosted its holdings in Alphabet by 21.3% in the second quarter. Maridea Wealth Management LLC now owns 9,015 shares of the information services provider's stock valued at $3,222,000 after acquiring an additional 1,585 shares in the last quarter. Libra Wealth LLC increased its position in Alphabet by 11.0% during the 2nd quarter. Libra Wealth LLC now owns 3,440 shares of the information services provider's stock valued at $1,229,000 after purchasing an additional 340 shares during the period. Finally, Ridgecrest Wealth Partners LLC raised its holdings in Alphabet by 43.9% in the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 63,336 shares of the information services provider's stock worth $22,634,000 after purchasing an additional 19,318 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
GOOGL has been the subject of several research analyst reports. Dbs Bank raised their target price on shares of Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Daiwa Securities Group boosted their price target on shares of Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. China Renaissance increased their price target on shares of Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $515.00 target price on shares of Alphabet in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $420.19.
Get Our Latest Stock Report on GOOGL
Alphabet Stock Up 1.7%
Shares of Alphabet stock opened at $346.59 on Friday. Alphabet Inc. has a 1 year low of $206.20 and a 1 year high of $408.61. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.96 and a beta of 1.24. The company has a 50-day moving average of $349.62 and a 200 day moving average of $341.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 20.5 earnings per share 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. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 4.42%.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google Cloud and AI remain the main growth drivers. Rising Cloud revenue, AI adoption and a reported $514 billion backlog strengthen Alphabet’s competitive position against Microsoft and Amazon, although capacity constraints could limit near-term execution. Rising Cloud Revenue Strengthens Alphabet Against MSFT & AMZN
- Positive Sentiment: New Gemini and AI Mode features could increase user engagement and monetization. Google is expanding AI Mode to track flight prices and assist with hotel bookings, while reviews of its personal-intelligence tools suggest broader consumer adoption. Employees are also reportedly testing a next-generation Gemini Flash model. Google's AI Mode can now track flight prices, help book hotels, and more
- Positive Sentiment: Analyst sentiment and technical momentum remain favorable. Brokerages maintain an average “Buy” recommendation, while technical commentary points to support above approximately $340. Alphabet’s valuation, margins and cash generation are viewed as attractive relative to many AI peers. Alphabet Receives Average Recommendation of Buy
- Positive Sentiment: Alphabet’s custom-chip strategy is creating demand for AI infrastructure. Marvell’s large Google-related AI-chip opportunity highlights Alphabet’s willingness to invest in proprietary computing capacity, potentially supporting long-term performance and reducing reliance on outside suppliers. Marvell’s Google AI-chip opportunity
- Neutral Sentiment: Google changed its European spam and site-reputation policy. The adjustment is intended to address European Commission concerns and reduce the risk of an antitrust fine, but it may affect how Google ranks publisher content and reflects ongoing regulatory pressure. Google changes spam policy in EU to avert antitrust fine
- Negative Sentiment: Legal risks continue to weigh on the investment case. Multiple law firms announced securities-fraud investigations, while Google agreed to a $353 million settlement with UK app developers. These announcements do not establish wrongdoing but could create financial and reputational costs. Google agrees to settle UK app developers’ lawsuit
- Negative Sentiment: The FTC is reportedly considering action involving YouTube. The investigation concerns account suspensions and possible consumer-protection violations, adding another regulatory overhang for Alphabet. US FTC probes YouTube over social media policies
Insider Buying and Selling
In related news, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction 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. This represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were 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. This represents a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 451,843 shares of company stock worth $12,343,852 in the last 90 days. 11.61% of the stock is owned by company insiders.
Alphabet Profile
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Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - 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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