MLG Wealth Management DBA Pine Grove Financial Group Purchases 1,558 Shares of Alphabet Inc. $GOOGL

Key Points

• MLG Wealth Management increased its Alphabet stake by 64.9% in the second quarter, purchasing 1,558 shares and bringing its holdings to 3,959 shares valued at approximately $1.415 million.
• Alphabet reported quarterly EPS of $9.11, far above the $2.89 consensus estimate, while revenue reached $119.8 billion versus expectations of $117.07 billion.
• Analysts maintain a broadly positive outlook, with Alphabet receiving a consensus “Buy” rating and an average price target of $422.16, compared with a recent share price of $349.54.

MLG Wealth Management DBA Pine Grove Financial Group raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 64.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,959 shares of the information services provider's stock after acquiring an additional 1,558 shares during the period. MLG Wealth Management DBA Pine Grove Financial Group's holdings in Alphabet were worth $1,415,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Second Line Capital LLC grew its stake in shares of Alphabet by 0.8% during the 2nd quarter. Second Line Capital LLC now owns 5,092 shares of the information services provider's stock valued at $1,820,000 after purchasing an additional 39 shares during the period. Range Advisory LLC boosted its holdings in shares of Alphabet by 42.8% in the second quarter. Range Advisory LLC now owns 20,651 shares of the information services provider's stock worth $7,380,000 after buying an additional 6,186 shares during the last quarter. Capital & Planning LLC increased its holdings in Alphabet by 7.3% during the second quarter. Capital & Planning LLC now owns 1,552 shares of the information services provider's stock valued at $555,000 after buying an additional 105 shares during the last quarter. Agur Provident & Training Funds Management Ltd. purchased a new stake in Alphabet during the second quarter valued at approximately $11,053,000. Finally, Alternative Investment Advisors LLC. raised its position in Alphabet by 3.0% in the second quarter. Alternative Investment Advisors LLC. now owns 6,139 shares of the information services provider's stock worth $2,194,000 after acquiring an additional 177 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $349.54 on Monday. The business has a fifty day moving average of $345.20 and a two-hundred day moving average of $345.18. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.27 trillion, a P/E ratio of 17.56, a P/E/G ratio of 1.01 and a beta of 1.22. Alphabet Inc. has a twelve month low of $235.84 and a twelve month high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. On average, analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 7th were issued a $0.22 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend 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 company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value 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. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 450,875 shares of company stock worth $11,984,482 over the last ninety days. Corporate insiders own 11.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOGL shares. KeyCorp lifted their target price on shares of Alphabet from $425.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. BMO Capital Markets set a $465.00 price objective on Alphabet and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Wells Fargo & Company set a $411.00 target price on Alphabet and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $400.00 price target on Alphabet and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Five analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of "Buy" and an average price target of $422.16.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Alphabet Company Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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