Steamboat Capital Partners LLC Reduces Position in Alphabet Inc. $GOOG

Steamboat Capital Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 18.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,976 shares of the information services provider’s stock after selling 14,024 shares during the period. Alphabet makes up about 4.6% of Steamboat Capital Partners LLC’s portfolio, making the stock its 2nd largest holding. Steamboat Capital Partners LLC’s holdings in Alphabet were worth $21,545,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Alphabet in the second quarter valued at $29,000. Imprint Wealth LLC acquired a new position in Alphabet during the third quarter worth about $31,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet in the fourth quarter worth about $38,000. Bard Associates Inc. bought a new stake in Alphabet in the fourth quarter worth about $41,000. Finally, Toth Financial Advisory Corp acquired a new stake in Alphabet in the 2nd quarter valued at about $41,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Roth Capital raised their price objective on shares of Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Rosenblatt Securities initiated coverage on shares of Alphabet in a report on Thursday, August 20th. They set a “buy” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Friday, July 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price target on shares of Alphabet in a report on Thursday, May 21st. Six investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $415.55.

Insider Buying and Selling at Alphabet

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

Alphabet Stock Performance

Shares of GOOG opened at $335.45 on Friday. The company has a 50-day moving average of $344.76 and a two-hundred day moving average of $341.64. The stock has a market cap of $4.10 trillion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.96 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a one year low of $236.68 and a one year high of $404.47.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.31 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 20.52 earnings per share 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 paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is 4.42%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google completed its acquisition of AI-agent startup Mechanize in a deal reportedly valued at more than $1.5 billion. Mechanize’s former CEO and other employees have joined Google, strengthening Alphabet’s capabilities in autonomous AI agents. Google completes its deal for AI startup Mechanize
• Positive Sentiment: Alphabet is broadening Gemini’s commercial reach. Google Cloud launched Gemini Enterprise for Financial Services in preview, with Deutsche Bank as an early proving ground, while a new Accenture partnership will train up to 1,000 engineers to implement Gemini applications for enterprise customers. Google Cloud launches AI agents for banking
• Positive Sentiment: Google’s AI tools are gaining traction in media and creative software. Avid Technology said it is working with Google to accelerate creative workflows, while Gemini is increasingly being positioned as a competitor to Adobe’s tools. Google helps Avid accelerate the creative process with AI
• Positive Sentiment: Alphabet’s planned €13 billion Finland AI infrastructure investment, supported by a long-term nuclear power agreement, could provide more predictable energy costs for data centers and strengthen Google Cloud and TPU capacity. Analysts also see TPU sales as a potential source of additional Cloud growth. Alphabet’s TPU sales could drive Google Cloud upside
• Neutral Sentiment: Alphabet faces a continuing securities-fraud investigation by the Law Offices of Frank R. Cruz. The announcement is an investor solicitation and does not establish wrongdoing, but it could add headline and litigation risk. Securities fraud investigation into Alphabet continues
• Negative Sentiment: Investors remain concerned about Alphabet’s roughly $200 billion AI capital-spending plans, potential electricity and data-center costs, and competition from OpenAI, Anthropic and Meta. A proposed U.S. bill could also require large data-center operators such as Alphabet to absorb more power-infrastructure costs.

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.