Keenan Capital LLC Acquires New Shares in Alphabet Inc. $GOOG

Keenan Capital LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, HoldingsChannel reports. The firm bought 76,000 shares of the information services provider’s stock, valued at approximately $26,853,000. Alphabet comprises approximately 5.3% of Keenan Capital LLC’s holdings, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $29,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the fourth quarter worth approximately $38,000. Imprint Wealth LLC bought a new position in shares of Alphabet during the third quarter valued at about $31,000. Bard Associates Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $41,000. Finally, Timbuktu Capital Management LLC bought a new stake in shares of Alphabet in the second quarter worth about $46,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Roundup

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 Stock Up 1.5%

Shares of NASDAQ GOOG opened at $335.45 on Friday. Alphabet Inc. has a 52-week low of $236.68 and a 52-week high of $404.47. The firm has a market capitalization 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 stock has a 50 day moving average price of $344.76 and a 200 day moving average price of $341.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72.

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 analysts’ consensus estimates of $2.87 by $6.24. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business posted $2.31 EPS. Sell-side analysts expect that Alphabet Inc. will post 20.52 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the business’s 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 451,925 shares of company stock worth $12,371,544. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $395.00 target price (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Canaccord Genuity Group set a $450.00 price target on Alphabet in a research note on Thursday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Six research 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $415.55.

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.