Alphabet Inc. $GOOG Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 769,336 shares of the information services provider’s stock after buying an additional 54,291 shares during the period. Alphabet comprises about 0.8% of NewEdge Advisors LLC’s holdings, making the stock its 18th largest position. NewEdge Advisors LLC’s holdings in Alphabet were worth $271,829,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Providence Wealth Advisors LLC increased its position in Alphabet by 0.3% during the first quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock worth $3,094,000 after buying an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC increased its position in Alphabet by 0.6% during the 1st quarter. One Charles Private Wealth Services LLC now owns 4,844 shares of the information services provider’s stock worth $1,390,000 after purchasing an additional 29 shares in the last quarter. Wisconsin Wealth Advisors LLC lifted its holdings in Alphabet by 1.3% in the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider’s stock valued at $785,000 after purchasing an additional 29 shares in the last quarter. Cannon Financial Strategists Inc. boosted its stake in shares of Alphabet by 1.9% during the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock worth $499,000 after purchasing an additional 30 shares during the last quarter. Finally, Financial Enhancement Group LLC raised its position in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after buying an additional 30 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOG. DA Davidson cut their price objective on shares of Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, July 23rd. Raymond James Financial restated a “strong-buy” rating on shares of Alphabet in a report on Thursday, July 23rd. Barclays reissued an “overweight” rating and set a $425.00 price target (up from $405.00) on shares of Alphabet in a research report on Thursday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Finally, HSBC set a $515.00 price objective on shares of Alphabet in a research note on Friday, August 14th. Six research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $415.55.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is currently owned by company insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

Alphabet Trading Up 1.5%

GOOG opened at $335.45 on Friday. The stock has a market capitalization of $4.10 trillion, a PE ratio of 16.85, a P/E/G ratio of 0.96 and a beta of 1.21. The firm’s fifty day moving average price is $344.76 and its 200 day moving average price is $341.64. 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 Inc. has a 12-month low of $236.68 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Alphabet’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. As a group, research analysts expect that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.42%.

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent company of Google. It was established in 2015 as part of a corporate restructuring intended to separate Google’s core internet businesses from a collection of other ventures. Google remains Alphabet’s largest business and serves users, advertisers, businesses and developers worldwide.

Google’s principal products and services include its internet search engine, online advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play and Google Photos.