Turner Financial Group Inc. Makes New Investment in Alphabet Inc. $GOOG

Turner Financial Group Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,375 shares of the information services provider’s stock, valued at approximately $839,000. Alphabet accounts for about 0.8% of Turner Financial Group Inc.’s investment portfolio, making the stock its 24th biggest holding.

A number of other large investors have also made changes to their positions in the stock. Denali Advisors LLC increased its position in shares of Alphabet by 14.8% during the 2nd quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider’s stock worth $37,449,000 after purchasing an additional 13,700 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its position in 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 valued at $86,596,000 after buying an additional 2,850 shares in the last quarter. Heck Capital Advisors LLC boosted its position in Alphabet by 298.2% in 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 buying an additional 16,647 shares in the last quarter. Violich Capital Management Inc. grew its stake in Alphabet by 1.0% during the fourth quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock worth $106,936,000 after buying an additional 3,378 shares during the last quarter. Finally, Montchanin Asset Management LLC acquired a new stake in shares of Alphabet during the first quarter worth approximately $7,075,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Roth Capital lifted their price objective on Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Barclays reissued an “overweight” rating and issued a $425.00 price objective (up from $405.00) on shares of Alphabet in a research note on Thursday, July 23rd. Oppenheimer restated an “outperform” rating and issued a $400.00 target price (down from $445.00) on shares of Alphabet in a research note on Thursday, July 23rd. Finally, KeyCorp set a $445.00 price target on Alphabet in a report on Friday, July 10th. Six 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $415.55.

Insider Activity

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following 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 SEC, which is accessible through the SEC website. Also, Director John Hennessy sold 1,050 shares of Alphabet stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 451,925 shares of company stock worth $12,371,544 over the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.0%

NASDAQ GOOG opened at $335.38 on Wednesday. Alphabet Inc. has a 12 month low of $233.38 and a 12 month high of $404.47. The stock has a 50-day simple moving average of $346.28 and a 200 day simple moving average of $341.40. 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 company has a market capitalization of $4.10 trillion, a PE ratio of 16.84, a P/E/G ratio of 0.97 and a beta of 1.21.

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

Alphabet Announces Dividend

The company also recently declared 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 dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is currently 4.42%.

Key Headlines 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

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.