Palmer Knight Co Takes Position in Alphabet Inc. $GOOGL

Palmer Knight Co acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,826 shares of the information services provider’s stock, valued at approximately $8,515,000. Alphabet accounts for about 3.3% of Palmer Knight Co’s holdings, making the stock its 12th largest holding.

A number of other hedge funds have also modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the 4th quarter worth approximately $32,000. EMC Capital Management bought a new position in shares of Alphabet during the 4th quarter worth approximately $33,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $52,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of Alphabet in the third quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business’s 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 transaction, the insider directly owned 75,290 shares in the company, 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. Over the last ninety days, insiders have sold 451,925 shares of company stock worth $12,371,544. Company insiders own 11.61% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Reports indicate Google could release Gemini 3.8 Flash this week. Internal testing reportedly shows meaningful improvement in coding, an area where Alphabet has trailed Anthropic and OpenAI. A stronger model could improve Google’s AI product competitiveness and investor confidence. New Google AI Model Said to Narrow Gap on Coding Ability
• Positive Sentiment: Alphabet-owned Waymo began offering paid autonomous rides in Denver, San Diego and Tampa, expanding its commercial service to 14 U.S. cities. The rollout strengthens Alphabet’s position in the emerging robotaxi market and creates a potential long-term growth opportunity beyond advertising and cloud computing. Waymo accelerates robotaxi expansion
• Positive Sentiment: Google agreed to purchase 396 megawatts of geothermal power from Fervo Energy’s Utah project. The deal supports the electricity needs of Alphabet’s expanding AI data-center infrastructure while providing greater visibility into its strategy for securing reliable, lower-carbon power. Fervo geothermal power deal with Google
• Neutral Sentiment: Alphabet introduced Google Pics, an AI-powered image creation and editing tool for Google Workspace and premium AI subscribers. The product could broaden monetization, but its near-term financial impact is uncertain. Google Pics AI design tool
• Neutral Sentiment: Android accessibility and personalization updates, along with Google Maps’ adoption of the “Lake America” name, increase product visibility but are unlikely to materially affect Alphabet’s earnings.
• Negative Sentiment: Investors remain concerned that OpenAI’s rapidly expanding advertising business could eventually pressure Google Search, Alphabet’s core profit engine. Reports of employee departures and a continuing AI talent race add to uncertainty around execution. OpenAI advertising threat to Google Search
• Negative Sentiment: EU regulators are questioning Google’s proposed AI-search opt-out policy, while recent European concessions and a £260 million U.K. app-store settlement reinforce concerns about regulatory costs and potential damage to search and platform economics. EU regulators question Google AI-search policy

Alphabet Stock Performance

NASDAQ GOOGL opened at $335.02 on Wednesday. The firm has a market capitalization of $4.10 trillion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $349.18 and its two-hundred day moving average price is $342.18. Alphabet Inc. has a 1 year low of $206.20 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. As a group, research analysts anticipate that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Announces Dividend

The company 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. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOGL. Loop Capital raised their target price on shares of Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research report on Friday, May 15th. HSBC reissued a “buy” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Freedom Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. BMO Capital Markets set a $465.00 price objective on Alphabet and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company set a $411.00 target price on Alphabet and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $420.19.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.