Moran Wealth Management LLC Purchases 1,808 Shares of Alphabet Inc. $GOOGL

Key Points

• Moran Wealth Management increased its Alphabet stake by 2.2%, purchasing 1,808 shares to hold 84,341 shares worth approximately $30.1 million. Institutional investors collectively own 40.03% of Alphabet.
• Alphabet reported strong quarterly results, with $9.11 in earnings per share and $119.8 billion in revenue, surpassing analyst estimates. Analysts maintain a consensus “Buy” rating with an average price target of $420.19.
• Alphabet declared a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 dividend and a 0.3% yield; meanwhile, company insiders have sold shares totaling about $12.4 million over the past three months.

Moran Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,341 shares of the information services provider's stock after buying an additional 1,808 shares during the quarter. Alphabet makes up about 0.8% of Moran Wealth Management LLC's holdings, making the stock its 19th biggest position. Moran Wealth Management LLC's holdings in Alphabet were worth $30,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the fourth quarter worth about $32,000. EMC Capital Management bought a new stake in Alphabet during the 4th quarter valued at approximately $33,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $38,000. Bard Associates Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $52,000. Finally, iSAM Funds UK Ltd bought a new position in Alphabet in the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $342.00 on Thursday. The firm has a market capitalization of $4.18 trillion, a P/E ratio of 17.18, a P/E/G ratio of 0.97 and a beta of 1.24. The stock has a fifty day moving average price of $350.61 and a two-hundred day moving average price of $341.58. Alphabet Inc. has a 52-week low of $205.65 and a 52-week high of $408.61. 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 issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating 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 company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. As a group, analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group cut their price target on Alphabet from $400.00 to $379.00 and set a "neutral" rating for the company in a report on Thursday, July 23rd. Mizuho boosted their target price on shares of Alphabet from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. DA Davidson set a $350.00 target price on shares of Alphabet and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Evercore upped their target price on shares of Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Finally, Roth Capital reissued a "buy" rating and issued a $440.00 price target (up from $435.00) on shares of Alphabet in a report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $420.19.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Berkshire Hathaway increased its Alphabet stake by 83% to approximately $37.8 billion, providing a significant endorsement from a major long-term investor and reinforcing confidence in Alphabet’s search, cloud and AI businesses. Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding
• Positive Sentiment: Google is expanding Gemini Enterprise into regulated industries, including legal and financial services, creating potential for higher-value recurring cloud and AI revenue as enterprises adopt specialized agents. What Alphabet's Gemini Enterprise Push Into Regulated Industries Means For Shareholders
• Positive Sentiment: Alphabet-owned Waymo plans to enter Germany with driverless rides in 2027, offering a potential long-term growth avenue and demonstrating progress toward international commercialization. Waymo to launch driverless rides in Germany in 2027
• Neutral Sentiment: Google introduced new Gemini Live voice capabilities intended to let users complete multiple tasks without choosing among separate AI tools. The feature may improve engagement, although its near-term financial impact is unclear. Google's Gemini has a branding problem
• Negative Sentiment: A settlement involving Meta and U.S. state attorneys general has renewed scrutiny of how YouTube protects children and teenagers. Investors are concerned that similar requirements could impose substantial compliance costs or financial obligations on Alphabet. Why is Alphabet stock down today?
• Negative Sentiment: Alphabet moved its AI-responsibility team out of DeepMind, prompting concerns among researchers about independence and the team’s ability to identify risks in new models. The development adds governance and reputational uncertainty to the company’s aggressive AI rollout. Google Moves AI-Responsibility Team Out of DeepMind Lab
• Negative Sentiment: Reports that Nvidia-based AI server prices may rise by more than 15% could increase Alphabet’s infrastructure costs, adding pressure to margins as the company continues heavy AI capital spending. Alphabet Spends About 60 Cents of Every Technical Infrastructure Dollar on Servers

Insider Activity

In related news, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was 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 in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 451,945 shares of company stock valued at $12,382,714 over the last three months. 11.61% of the stock is owned by corporate insiders.

Alphabet Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source