OceanIQ Capital LLC Invests $1.82 Million in Alphabet Inc. $GOOG

OceanIQ Capital LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, HoldingsChannel reports. The fund acquired 5,311 shares of the information services provider’s stock, valued at approximately $1,822,000. Alphabet accounts for about 1.1% of OceanIQ Capital LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after buying an additional 806,681 shares during the period. Darwin Wealth Management LLC acquired a new position in Alphabet in the second quarter valued at $658,000. Financial Advisors Network Inc. boosted its position in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares during the last quarter. Finally, Ausdal Financial Partners Inc. boosted its position in Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOG. Canaccord Genuity Group set a $450.00 price target on Alphabet in a report on Thursday, July 23rd. Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. HSBC set a $515.00 target price on Alphabet in a report on Friday, August 14th. Zacks Research lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Stifel Nicolaus set a $420.00 price target on Alphabet in a report on Wednesday, May 20th. 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 MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus price target of $415.55.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Stable search traffic eases competitive concerns. Bank of America reportedly found no meaningful deterioration in Google’s web-traffic data, helping counter fears that AI search tools are taking share from Alphabet’s core search business. Bank of America Spots Reassuring Signal for Google Stock
• Positive Sentiment: Cloud and AI commercialization continue to expand. Google Cloud and Accenture are forming a unit with 1,000 engineers to help enterprises deploy Google’s AI products. Alphabet is also reportedly selling TPU systems directly to customers, potentially creating a new hardware revenue stream, while Google Cloud chief Thomas Kurian claimed the company’s AI-chip business is more than twice the size of its closest rival. Google Cloud and Accenture AI Unit
• Positive Sentiment: Energy and infrastructure access may support AI expansion. A $1.9 billion U.S. Energy Department loan to NextEra Energy will help revive an Iowa nuclear plant intended to supply power for Google, potentially improving Alphabet’s long-term access to reliable electricity for data centers. Google’s Revived Nuclear Power Plant Loan
• Neutral Sentiment: Investors remain divided over valuation and capital spending. Analysts and commentators view GOOG as attractively valued relative to cloud growth, but Alphabet’s massive AI-related capital expenditures are pressuring near-term free cash flow and contributing to volatility.
• Negative Sentiment: Project Braid data-center delays raise execution concerns. Alphabet and Blackstone’s AI-cloud venture reportedly faces delays at major data-center sites, highlighting the permitting, construction and power challenges slowing the broader AI buildout. Google and Blackstone Venture Faces Delays
• Negative Sentiment: EU search changes could hurt user experience and business economics. Google says modifications required under the Digital Markets Act will reduce search quality, favor intermediaries over local businesses and increase costs, while exposing Alphabet to continuing regulatory pressure. Google Warns of Lower-Quality European Search Results

Insider Transactions at Alphabet

In related news, insider Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares in the company, valued at approximately $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 451,925 shares of company stock valued at $12,371,544 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $335.38 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The stock has a 50-day moving average of $346.28 and a 200-day moving average of $341.40. The company has a market cap of $4.10 trillion, a PE ratio of 16.84, a P/E/G ratio of 0.97 and a beta of 1.21. Alphabet Inc. has a one year low of $233.38 and a one year high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. During the same period in the prior year, the business earned $2.31 EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company 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 currently 4.42%.

Alphabet Company 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.