OceanIQ Capital LLC Purchases New Position in Alphabet Inc. $GOOG

OceanIQ Capital LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,311 shares of the information services provider’s stock, valued at approximately $1,822,000. Alphabet comprises 1.1% of OceanIQ Capital LLC’s portfolio, making the stock its 15th largest holding.

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

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. TD Cowen reiterated a “buy” rating and issued a $475.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Friday, August 14th. UBS Group restated a “neutral” rating and set a $379.00 target price (down from $400.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Six research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $415.55.

Alphabet Trading Up 0.0%

Shares of Alphabet stock opened at $335.38 on Wednesday. The firm’s 50 day moving average is $346.28 and its 200 day moving average is $341.40. The firm has a market capitalization of $4.10 trillion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21. Alphabet Inc. has a 1 year low of $233.38 and a 1 year high of $404.47. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The firm’s revenue was up 24.2% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Stable search traffic eases competitive concerns. Bank of America reportedly found no meaningful deterioration in Google’s web-traffic data, helping counter fears that AI search tools are taking share from Alphabet’s core search business. Bank of America Spots Reassuring Signal for Google Stock
• Positive Sentiment: Cloud and AI commercialization continue to expand. Google Cloud and Accenture are forming a unit with 1,000 engineers to help enterprises deploy Google’s AI products. Alphabet is also reportedly selling TPU systems directly to customers, potentially creating a new hardware revenue stream, while Google Cloud chief Thomas Kurian claimed the company’s AI-chip business is more than twice the size of its closest rival. Google Cloud and Accenture AI Unit
• Positive Sentiment: Energy and infrastructure access may support AI expansion. A $1.9 billion U.S. Energy Department loan to NextEra Energy will help revive an Iowa nuclear plant intended to supply power for Google, potentially improving Alphabet’s long-term access to reliable electricity for data centers. Google’s Revived Nuclear Power Plant Loan
• Neutral Sentiment: Investors remain divided over valuation and capital spending. Analysts and commentators view GOOG as attractively valued relative to cloud growth, but Alphabet’s massive AI-related capital expenditures are pressuring near-term free cash flow and contributing to volatility.
• Negative Sentiment: Project Braid data-center delays raise execution concerns. Alphabet and Blackstone’s AI-cloud venture reportedly faces delays at major data-center sites, highlighting the permitting, construction and power challenges slowing the broader AI buildout. Google and Blackstone Venture Faces Delays
• Negative Sentiment: EU search changes could hurt user experience and business economics. Google says modifications required under the Digital Markets Act will reduce search quality, favor intermediaries over local businesses and increase costs, while exposing Alphabet to continuing regulatory pressure. Google Warns of Lower-Quality European Search Results

Insider Transactions at Alphabet

In related news, insider Kent Walker sold 8,998 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,925 shares of company stock valued at $12,371,544 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet 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.