Alphabet Inc. $GOOG Holdings Decreased by Renaissance Investment Group LLC

Renaissance Investment Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,997 shares of the information services provider’s stock after selling 3,105 shares during the period. Renaissance Investment Group LLC’s holdings in Alphabet were worth $5,652,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Praetorian Wealth Management Inc. boosted its holdings in Alphabet by 1.8% in the second quarter. Praetorian Wealth Management Inc. now owns 2,029 shares of the information services provider’s stock worth $717,000 after purchasing an additional 36 shares during the period. DWR Wealth Management LLC increased its stake in Alphabet by 2.9% during the second quarter. DWR Wealth Management LLC now owns 1,103 shares of the information services provider’s stock valued at $387,000 after purchasing an additional 31 shares during the last quarter. Bannerman Wealth Management Group LLC acquired a new stake in shares of Alphabet during the second quarter worth $253,000. Castle Rock Wealth Management LLC raised its holdings in shares of Alphabet by 2.7% during the second quarter. Castle Rock Wealth Management LLC now owns 30,585 shares of the information services provider’s stock worth $10,946,000 after purchasing an additional 818 shares during the period. Finally, NerdWallet Wealth Partners LLC lifted its position in shares of Alphabet by 134.2% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 6,957 shares of the information services provider’s stock worth $2,458,000 after buying an additional 3,986 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Rosenblatt Securities set a $393.00 price target on shares of Alphabet in a report on Thursday, July 23rd. Pivotal Research increased their price objective on shares of Alphabet from $470.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Freedom Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $460.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Finally, Canaccord Genuity Group set a $450.00 target price on Alphabet in a research note on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $410.09.

Alphabet Stock Performance

GOOG stock opened at $356.62 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 stock has a market capitalization of $4.36 trillion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.01 and a beta of 1.23. Alphabet Inc. has a 1 year low of $195.22 and a 1 year high of $404.47. The stock’s fifty day moving average is $354.40 and its two-hundred day moving average is $338.85.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping 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 analyst estimates of $116.53 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. On average, research analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is 4.42%.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 600,547 shares of company stock worth $16,255,540. Insiders own 12.99% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s planned 10-part bond offering of up to $25 billion was met with approximately $115 billion in investor orders, indicating strong confidence in the company’s credit quality and long-term AI strategy. The funds are intended to support data-center expansion and other infrastructure investments. Google’s AI Bond Sale Attracts $115 Billion of Orders
• Positive Sentiment: Google Cloud continues to benefit from strong AI demand, while AI lab Mirendil signed a multiyear, $100 million-plus agreement to obtain computing capacity from Google Cloud. Such contracts could help monetize Alphabet’s substantial AI infrastructure spending. Mirendil Inks $100M+ Google Cloud Deal
• Neutral Sentiment: The debt sale gives Alphabet additional flexibility to fund its roughly $205 billion AI infrastructure plan, but it also increases borrowing and raises questions about returns on capital. Strong demand for the bonds reduces near-term financing risk, although investors are likely to scrutinize spending discipline and future profitability. Alphabet Seeks Up to $25 Billion From Bond Sale
• Negative Sentiment: Alphabet is facing renewed concerns about its ability to lead in frontier AI after chief scientist Jeff Dean departed to launch a startup with other researchers, while DeepMind chief Demis Hassabis moved away from day-to-day management into a broader chief scientist role. The departures heighten fears of a talent drain and potential disruption to Gemini and other AI initiatives. Google Shakes Up AI Leadership
• Negative Sentiment: Commentary suggests Google Cloud’s commercial growth is competing for scarce computing resources and management attention with DeepMind’s longer-term AI research, adding execution risk as Alphabet attempts to scale both businesses. Alphabet’s Cloud Growth Straining Its Frontier AI Push

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.