Union Square Park Capital Management LLC Makes New $1.43 Million Investment in Alphabet Inc. $GOOG

Union Square Park Capital Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the information services provider’s stock, valued at approximately $1,434,000.

Several other institutional investors have also recently modified their holdings of the company. Providence Wealth Advisors LLC boosted its stake in Alphabet by 0.3% in 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 raised its stake in shares of Alphabet by 0.6% during the first 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. Ring Mountain Capital LLC lifted its holdings in shares of Alphabet by 0.9% in the 4th quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after acquiring an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. boosted its stake in shares of Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after purchasing an additional 30 shares in the last quarter. Finally, Financial Enhancement Group LLC boosted its stake in shares of Alphabet by 2.3% in the 1st quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 30 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,415 shares of company stock worth $7,672,279 over the last 90 days. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOG shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a report on Thursday. BMO Capital Markets upped their price target on shares of Alphabet from $455.00 to $465.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Morgan Stanley reduced their price objective on Alphabet from $415.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Rosenblatt Securities set a $393.00 price objective on Alphabet in a research note on Thursday. Finally, Wells Fargo & Company decreased their price objective on Alphabet from $418.00 to $411.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $410.09.

Alphabet Trading Up 2.3%

NASDAQ:GOOG opened at $326.57 on Tuesday. The company has a fifty day moving average of $359.30 and a 200 day moving average of $337.61. Alphabet Inc. has a 52 week low of $188.70 and a 52 week high of $404.47. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.96 trillion, a P/E ratio of 16.40, a P/E/G ratio of 1.08 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) 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 analyst estimates of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. On average, research analysts predict that Alphabet Inc. will post 17.25 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.