Tenet Wealth Partners LLC Acquires Shares of 6,541 Alphabet Inc. $GOOG

Tenet Wealth Partners LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, HoldingsChannel reports. The firm purchased 6,541 shares of the information services provider’s stock, valued at approximately $2,136,000. Alphabet comprises approximately 1.6% of Tenet Wealth Partners LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Auto Owners Insurance Co boosted its stake in Alphabet by 38,409.2% during the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after acquiring an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP grew its position in Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the 4th quarter valued at about $18,093,665,000. Cardano Risk Management B.V. increased its stake in Alphabet by 850.3% during the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock valued at $5,551,938,000 after purchasing an additional 15,830,754 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after buying an additional 7,904,434 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Alphabet News

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOG. Royal Bank Of Canada reiterated a “buy” rating and set a $475.00 price target on shares of Alphabet in a report on Thursday, July 23rd. UBS Group restated a “neutral” rating and issued a $379.00 price objective (down from $400.00) on shares of Alphabet in a report on Thursday, July 23rd. Raymond James Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Thursday, July 23rd. Stifel Nicolaus set a $420.00 target price on Alphabet in a report on Wednesday, May 20th. Finally, Truist Financial decreased their price target on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Six research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $415.55.

Insider Transactions at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.0%

GOOG opened at $335.38 on Wednesday. The stock has a market cap of $4.10 trillion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21. 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’s fifty day moving average is $346.28 and its 200 day moving average is $341.40. Alphabet Inc. has a fifty-two week low of $233.38 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm 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 business earned $2.31 earnings per share. Alphabet’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.