The Manufacturers Life Insurance Company Acquires 141,923 Shares of Alphabet Inc. $GOOG

The Manufacturers Life Insurance Company lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,123,535 shares of the information services provider’s stock after acquiring an additional 141,923 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alphabet were worth $1,103,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new stake in Alphabet in the second quarter worth approximately $29,000. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $31,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $41,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director John Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares in the company, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,925 shares of company stock valued at $12,371,544 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $335.45 on Friday. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $236.68 and a twelve month high of $404.47. The stock’s 50 day moving average is $344.76 and its 200-day moving average is $341.64. The firm has a market capitalization of $4.10 trillion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.97 and a beta of 1.21.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $6.24. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Alphabet’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 EPS. Sell-side analysts forecast that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Announces Dividend

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

More Alphabet News

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.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOOG. Freedom Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Canaccord Genuity Group set a $450.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Finally, BMO Capital Markets increased their price objective on shares of Alphabet from $455.00 to $465.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Six research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price 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.