Palmer Knight Co Makes New Investment in Alphabet Inc. $GOOGL

Palmer Knight Co bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,826 shares of the information services provider's stock, valued at approximately $8,515,000. Alphabet makes up 3.3% of Palmer Knight Co's investment portfolio, making the stock its 12th largest position.

Several other hedge funds have also modified their holdings of GOOGL. Norges Bank bought a new position in Alphabet in the 4th quarter valued at $30,534,239,000. Cardano Risk Management B.V. raised its position in shares of Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock worth $4,546,413,000 after acquiring an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the last quarter. Capital World Investors lifted its stake in shares of Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares during the period. Finally, Diamant Asset Management Inc. lifted its stake in shares of Alphabet by 28,950.0% during the first quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock valued at $2,671,986,000 after acquiring an additional 9,259,940 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citizens Jmp reiterated a "market outperform" rating and issued a $515.00 price objective on shares of Alphabet in a research report on Wednesday, July 22nd. Arete Research upped their target price on shares of Alphabet from $405.00 to $425.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Piper Sandler restated an "overweight" rating and set a $395.00 target price (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, KeyCorp lifted their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of "Buy" and an average target price of $420.19.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,925 shares of company stock valued at $12,371,544 over the last 90 days. 11.61% of the stock is owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Reports indicate Google could release Gemini 3.8 Flash this week. Internal testing reportedly shows meaningful improvement in coding, an area where Alphabet has trailed Anthropic and OpenAI. A stronger model could improve Google’s AI product competitiveness and investor confidence. New Google AI Model Said to Narrow Gap on Coding Ability
• Positive Sentiment: Alphabet-owned Waymo began offering paid autonomous rides in Denver, San Diego and Tampa, expanding its commercial service to 14 U.S. cities. The rollout strengthens Alphabet’s position in the emerging robotaxi market and creates a potential long-term growth opportunity beyond advertising and cloud computing. Waymo accelerates robotaxi expansion
• Positive Sentiment: Google agreed to purchase 396 megawatts of geothermal power from Fervo Energy’s Utah project. The deal supports the electricity needs of Alphabet’s expanding AI data-center infrastructure while providing greater visibility into its strategy for securing reliable, lower-carbon power. Fervo geothermal power deal with Google
• Neutral Sentiment: Alphabet introduced Google Pics, an AI-powered image creation and editing tool for Google Workspace and premium AI subscribers. The product could broaden monetization, but its near-term financial impact is uncertain. Google Pics AI design tool
• Neutral Sentiment: Android accessibility and personalization updates, along with Google Maps’ adoption of the “Lake America” name, increase product visibility but are unlikely to materially affect Alphabet’s earnings.
• Negative Sentiment: Investors remain concerned that OpenAI’s rapidly expanding advertising business could eventually pressure Google Search, Alphabet’s core profit engine. Reports of employee departures and a continuing AI talent race add to uncertainty around execution. OpenAI advertising threat to Google Search
• Negative Sentiment: EU regulators are questioning Google’s proposed AI-search opt-out policy, while recent European concessions and a £260 million U.K. app-store settlement reinforce concerns about regulatory costs and potential damage to search and platform economics. EU regulators question Google AI-search policy

Alphabet Price Performance

GOOGL opened at $335.02 on Wednesday. The stock has a market cap of $4.10 trillion, a P/E ratio of 16.83, a P/E/G ratio of 0.98 and a beta of 1.24. Alphabet Inc. has a 12 month low of $206.20 and a 12 month high of $408.61. 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 company has a fifty day simple moving average of $349.18 and a 200 day simple moving average of $342.18.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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 return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. On average, research analysts expect that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors 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 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 4.42%.

Alphabet 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.

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