Core Capital Management & Research inc. Buys Shares of 1,516 Alphabet Inc. $GOOG

Core Capital Management & Research inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,516 shares of the information services provider’s stock, valued at approximately $521,000.

Other hedge funds have also modified their holdings of the company. Providence Wealth Advisors LLC lifted its position 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 valued at $3,094,000 after buying an additional 29 shares during the last quarter. One Charles Private Wealth Services LLC boosted its stake in 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 buying an additional 29 shares during the period. Wisconsin Wealth Advisors LLC increased its position in shares of Alphabet by 1.3% during 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. increased its position in shares of Alphabet by 1.9% during 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 raised 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 acquiring an additional 30 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.5%

NASDAQ GOOG opened at $335.45 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The firm has a market cap of $4.10 trillion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.97 and a beta of 1.21. The firm has a 50 day simple moving average of $344.76 and a 200-day simple moving average of $341.64. Alphabet Inc. has a one year low of $236.68 and a one year high of $404.47.

Alphabet (NASDAQ:GOOG) last released 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. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $116.53 billion. During the same period in the previous year, the firm posted $2.31 EPS. Alphabet’s revenue for the quarter was up 24.2% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 4.42%.

Alphabet News Roundup

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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOG. TD Cowen restated a “buy” rating and issued a $475.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Oppenheimer reissued an “outperform” rating and issued a $400.00 target price (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Raymond James Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Thursday, July 23rd. Finally, KeyCorp set a $445.00 price objective on Alphabet in a research note on Friday, July 10th. Six analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $415.55.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the transaction, the chief accounting officer owned 27,386 shares of the company’s stock, valued at $9,125,015.20. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 451,925 shares of company stock worth $12,371,544. Company insiders own 12.99% of the company’s stock.

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.