Peak Asset Management LLC Has $5.31 Million Stake in Alphabet Inc. $GOOG

Peak Asset Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 97.3% in the second quarter, HoldingsChannel.com reports. The fund owned 15,016 shares of the information services provider’s stock after buying an additional 7,405 shares during the quarter. Peak Asset Management LLC’s holdings in Alphabet were worth $5,306,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Gerber Kawasaki Wealth & Investment Management raised its stake in shares of Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after acquiring an additional 2,850 shares during the last quarter. Heck Capital Advisors LLC grew its stake in shares of Alphabet by 298.2% during the second quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider’s stock valued at $7,854,000 after purchasing an additional 16,647 shares during the last quarter. Violich Capital Management Inc. grew its stake in shares of Alphabet by 1.0% during the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after purchasing an additional 3,378 shares during the last quarter. Montchanin Asset Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $7,075,000. Finally, Sax Wealth Advisors LLC raised its position in Alphabet by 13.3% in the 2nd quarter. Sax Wealth Advisors LLC now owns 30,489 shares of the information services provider’s stock worth $10,773,000 after purchasing an additional 3,575 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 2.2%

GOOG opened at $335.41 on Tuesday. The firm’s fifty day moving average is $347.52 and its two-hundred day moving average is $340.20. 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 PE ratio of 16.85, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23. Alphabet Inc. has a twelve month low of $206.96 and a twelve month high of $404.47.

Alphabet (NASDAQ:GOOG) last announced 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. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The firm’s revenue was up 24.2% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 20.5 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders 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 yield of 0.3%. Alphabet’s payout ratio is currently 4.42%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOG shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday, July 23rd. Barclays reiterated an “overweight” rating and issued a $425.00 price target (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, HSBC set a $515.00 target price on shares of Alphabet in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $415.55.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts remain constructive on Alphabet’s outlook. Citizens analyst Andrew Boone expects the stock to reach a new all-time high over the next year, while recent GOOG targets have a median of $455, well above recent trading levels. Wall Street analyst sets Google price target
• Positive Sentiment: Alphabet’s record cloud growth, Gemini development and expanding AI infrastructure continue to support the bullish case. Investors are debating whether the company’s large AI spending program will produce durable growth, but some analysts view the recent pullback as an opportunity. One Mag 7 stock to watch
• Positive Sentiment: Meta- and Google-backed Jio Platforms received regulatory approval for an Indian IPO, potentially creating value for Alphabet’s investment and increasing visibility into one of its strategic holdings. Jio Platforms receives IPO approval
• Neutral Sentiment: Director Frances Arnold sold 82 shares for approximately $27,700, reducing her position by only 0.43%. The small transaction is unlikely to materially change Alphabet’s investment outlook, though broader insider activity has consisted entirely of sales during the past six months. Alphabet SEC insider filing
• Negative Sentiment: Investors are increasingly concerned that Meta’s AI-powered advertising products could challenge Google Search’s advertising dominance. OpenAI’s reported $1 billion advertising run rate adds to fears that competition for digital-ad budgets is intensifying. Bernstein warns on Meta competition
• Negative Sentiment: Regulatory pressure remains a major overhang. Google avoided a potential European penalty by changing search rules, while a £260 million U.K. app-store settlement adds another direct cost and highlights continuing scrutiny of its business practices. Google changes European search rules
• Negative Sentiment: Alphabet’s aggressive AI capital expenditures are raising concerns about free-cash-flow pressure and future margins, particularly as investors compare its spending strategy with Amazon’s. Alphabet and Amazon AI capital spending
• Negative Sentiment: Google Maps’ decision to display “Lake America” for U.S. users has triggered backlash in Canada, creating reputational and political risk, although the immediate financial impact appears limited. Google Maps Lake America controversy

Insiders Place Their Bets

In other news, insider John Kent Walker sold 8,998 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 451,925 shares of company stock valued at $12,371,544 in the last three months. Insiders own 12.99% of the company’s stock.

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.