Everest Financial Group LLC Acquires 15,846 Shares of Alphabet Inc. $GOOG

Everest Financial Group LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 346.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,414 shares of the information services provider’s stock after acquiring an additional 15,846 shares during the period. Everest Financial Group LLC’s holdings in Alphabet were worth $5,856,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Imprint Wealth LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new position in Alphabet in the 4th quarter worth $38,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the 4th quarter worth $38,000. Bard Associates Inc. acquired a new position in Alphabet during the 4th quarter worth $41,000. Finally, Towne Trust Company N.A lifted its position in Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 159,415 shares of company stock worth $7,672,279. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Rosenblatt Securities set a $393.00 price objective on Alphabet in a research note on Thursday. Roth Capital raised their target price on Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. DA Davidson dropped their price target on Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a research 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 for the company in a research note on Thursday, July 23rd. Finally, KeyCorp set a $445.00 price objective on shares of Alphabet in a report on Friday, July 10th. Six investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $410.09.

Alphabet Stock Up 2.3%

GOOG opened at $326.57 on Tuesday. The company has a market capitalization of $3.96 trillion, a P/E ratio of 16.40, a P/E/G ratio of 1.08 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The firm’s fifty day moving average price is $359.30 and its two-hundred day moving average price is $337.61. Alphabet Inc. has a fifty-two week low of $188.70 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $116.53 billion. During the same quarter in the prior year, the company posted $2.31 EPS. The business’s revenue was up 24.2% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 17.25 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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. 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 payout ratio is presently 4.42%.

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.