Rep. James Comer Buys Alphabet Inc. (NASDAQ:GOOG) Shares

Representative James Comer (R-Kentucky) recently bought shares of Alphabet Inc. (NASDAQ:GOOG). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Alphabet stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Palo Alto Networks (NASDAQ:PANW) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.

Alphabet Stock Performance

NASDAQ GOOG opened at $191.05 on Wednesday. The business’s 50 day moving average price is $184.95 and its 200-day moving average price is $174.55. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The company has a market cap of $2.34 trillion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock worth $23,817,951 over the last quarter. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently made changes to their positions in GOOG. M&G PLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $2,240,000. Coldstream Capital Management Inc. raised its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC grew its stake in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares during the last quarter. Stevens Capital Management LP raised its stake in shares of Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after purchasing an additional 5,892 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOG. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.