Range Advisory LLC Boosts Stock Position in Alphabet Inc. $GOOG

Range Advisory LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 27,894 shares of the information services provider’s stock after buying an additional 2,965 shares during the period. Alphabet accounts for 1.2% of Range Advisory LLC’s investment portfolio, making the stock its 16th biggest holding. Range Advisory LLC’s holdings in Alphabet were worth $9,856,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Providence Wealth Advisors LLC boosted its holdings in shares of Alphabet by 0.3% in the 1st quarter. Providence Wealth Advisors LLC now owns 10,508 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 29 shares in the last quarter. One Charles Private Wealth Services LLC raised its stake 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 acquiring an additional 29 shares in the last quarter. Wisconsin Wealth Advisors LLC lifted its position in Alphabet by 1.3% in the second quarter. Wisconsin Wealth Advisors LLC now owns 2,223 shares of the information services provider’s stock valued at $785,000 after acquiring an additional 29 shares during the last quarter. Cannon Financial Strategists Inc. lifted its position in Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after acquiring an additional 30 shares during the last quarter. Finally, Financial Enhancement Group LLC boosted its stake in 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 acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $330.39 on Friday. The firm has a market capitalization of $4.04 trillion, a P/E ratio of 16.59, a PEG ratio of 0.95 and a beta of 1.21. Alphabet Inc. has a one year low of $236.58 and a one year high of $404.47. The company’s fifty day moving average is $345.18 and its two-hundred day moving average is $341.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

Alphabet (NASDAQ:GOOG) last released 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. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. Analysts forecast that Alphabet Inc. will post 20.5 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is 4.42%.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 82 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the transaction, the director owned 18,995 shares in the company, valued at approximately $6,414,801.45. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 451,925 shares of company stock valued at $12,371,544 in the last ninety days. Insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet announced a partnership with Morgan State University to establish an AI campus, potentially expanding long-term talent development, research access and adoption of Google Cloud and Gemini. Alphabet Morgan State University AI partnership
• Positive Sentiment: Google launched a dedicated Gemini app for Windows PCs, making its AI assistant more accessible and increasing the opportunity to drive usage across consumer devices and services. Gemini Windows app
• Positive Sentiment: Alphabet’s planned €13 billion investment in Finnish AI infrastructure, alongside a long-term agreement to purchase power from a nuclear plant, could provide reliable, lower-cost electricity for data centers and support Gemini, Search, Maps and YouTube. Google Finland AI infrastructure investment
• Positive Sentiment: Analysts and investment commentary continue to highlight Alphabet’s cloud growth, more than 20% revenue growth and strong recent earnings as evidence that the company can fund substantial AI investment while maintaining attractive profitability. Alphabet return on invested capital and cloud growth
• Neutral Sentiment: Reported short interest was listed at zero shares, unchanged from the prior report, so the data provide no meaningful evidence of short-covering pressure or growing bearish positioning.
• Negative Sentiment: Investors remain focused on the cost of Alphabet’s AI buildout. Estimates that AI capital expenditures could reach roughly $200 billion have raised concerns about pressure on free cash flow, even though the stock’s valuation is viewed as reasonable. Alphabet AI capital expenditures
• Negative Sentiment: Meta’s new Muse AI agent has renewed concerns that autonomous assistants could bypass traditional search pages and reduce Google search advertising opportunities. ARK Invest’s decision to sell approximately $28 million of Alphabet and buy Meta added to the competitive sentiment. Meta Muse competition
• Negative Sentiment: Potential regulation could increase infrastructure costs: proposed U.S. legislation would require large data-center users to pay the full incremental cost of power-grid upgrades, while Finnish officials have warned that Google’s expansion could strain electricity supply. Data Center Fair Share Act

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Friday, July 17th. Wells Fargo & Company reduced their price objective on Alphabet from $418.00 to $411.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Morgan Stanley decreased their price objective on Alphabet from $415.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Pivotal Research raised their target price on shares of Alphabet from $470.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Six analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $415.55.

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.