Parr Mcknight Wealth Management Group LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,614 shares of the information services provider's stock after purchasing an additional 8,238 shares during the period. Alphabet accounts for about 2.1% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 8th largest position. Parr Mcknight Wealth Management Group LLC's holdings in Alphabet were worth $17,373,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in GOOGL. NewEdge Wealth LLC raised its holdings in Alphabet by 11.8% during the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock valued at $277,696,000 after buying an additional 93,293 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Alphabet by 2.6% during the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock worth $25,679,000 after acquiring an additional 2,269 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new stake in shares of Alphabet during the 4th quarter worth about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of Alphabet by 17.1% during the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock valued at $37,236,000 after acquiring an additional 17,415 shares during the last quarter. Finally, KLCM Advisors Inc. increased its holdings in shares of Alphabet by 66.1% during the 4th quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock valued at $7,161,000 after acquiring an additional 9,105 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In related news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction dated 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 of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction dated 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 in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 451,945 shares of company stock worth $12,382,714 over the last ninety days. Corporate insiders own 11.61% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. HSBC reissued a "buy" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Phillip Securities upgraded Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 27th. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. New Street Research boosted their price objective on shares of Alphabet from $450.00 to $455.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Finally, KeyCorp upped their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Six 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 data from MarketBeat, Alphabet presently has a consensus rating of "Buy" and a consensus target price of $420.19.
View Our Latest Research Report on GOOGL
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Berkshire Hathaway significantly increased its Alphabet position. Berkshire’s second-quarter filing reportedly showed an 83% increase in its stake to approximately $37.8 billion, making Alphabet one of its largest holdings. The purchase may reinforce investor confidence in Alphabet’s valuation, cash generation and AI growth prospects. Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding
- Positive Sentiment: Google expanded Gemini Enterprise into legal and financial services. New specialized AI agents and tools could help Google Cloud monetize Gemini, compete with Anthropic and OpenAI, and deepen relationships with high-value enterprise customers. Google expands Gemini AI platform for law firms, lawyers
- Positive Sentiment: Alphabet-owned Waymo is expanding internationally. Waymo plans to test autonomous vehicles in Munich and launch commercial driverless rides in Germany in 2027, its first European market. The move supports the long-term growth case for Alphabet’s autonomous-driving investments, although near-term financial benefits are likely limited. Waymo to begin testing autonomous vehicles in Munich
- Positive Sentiment: Google’s in-house TPU strategy is attracting attention. Reports that TPU volume could potentially triple by 2027 suggest growing demand for Google’s AI infrastructure and could improve cloud economics while reducing reliance on Nvidia hardware. Google TPU Volume Could Triple to 8.8 Million by 2027
- Neutral Sentiment: Google reportedly plans to move Pixel manufacturing out of China by 2027. Shifting production to Vietnam and India could diversify supply chains, but relocation costs and execution risks make the immediate earnings impact uncertain. Google plans to move all Pixel manufacturing out of China by 2027
- Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Alphabet investors. The notice provides few details, but securities-law investigations can create headline risk, potential legal expenses and uncertainty for shareholders. Investor Alert: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Alphabet
- Negative Sentiment: Possible delays to a new Gemini Pro release may be weighing on AI sentiment. Reports that a flagship Gemini update may not arrive before late September could raise concerns about Google’s pace of innovation as competition from Anthropic and OpenAI intensifies. Gemini Pro delay leaves Google with an empty flagship tier
Alphabet Trading Down 0.3%
Shares of Alphabet stock opened at $346.96 on Wednesday. Alphabet Inc. has a 1 year low of $205.65 and a 1 year high of $408.61. The company's fifty day simple moving average is $351.05 and its 200-day simple moving average is $341.51. The company has a market cap of $4.24 trillion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 firm had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 20.51 EPS for the current year.
Alphabet Dividend Announcement
The business also recently disclosed 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 payout ratio is presently 4.42%.
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.
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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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