Pennington Partners & CO. LLC Acquires 14,386 Shares of Alphabet Inc. $GOOG

by · The Markets Daily

Pennington Partners & CO. LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 397.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,004 shares of the information services provider’s stock after purchasing an additional 14,386 shares during the quarter. Alphabet makes up approximately 1.8% of Pennington Partners & CO. LLC’s holdings, making the stock its 8th biggest holding. Pennington Partners & CO. LLC’s holdings in Alphabet were worth $5,164,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kathmere Capital Management LLC lifted its stake in Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after buying an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in shares of Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after buying an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after acquiring an additional 4,239 shares during the last quarter. Violich Capital Management Inc. increased its stake in shares of Alphabet by 1.0% in the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after acquiring an additional 3,378 shares during the last quarter. Finally, Sax Wealth Advisors LLC increased its stake in shares of Alphabet by 16.0% in the 4th quarter. Sax Wealth Advisors LLC now owns 28,006 shares of the information services provider’s stock valued at $8,788,000 after acquiring an additional 3,868 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GOOG shares. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $395.00 target price (down from $445.00) on shares of Alphabet in a research note on Thursday. Pivotal Research increased their target price on shares of Alphabet from $470.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research set a $460.00 price target on shares of Alphabet in a research report on Thursday. Finally, Truist Financial decreased their price target on shares of Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday. Six analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $410.09.

Check Out Our Latest Report on GOOG

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

  • Positive Sentiment: Alphabet posted a strong Q2 beat, with revenue and EPS coming in ahead of expectations, while Google Cloud revenue surged 82% and cloud margins improved sharply.
  • Positive Sentiment: AI and product demand remain strong, with management saying AI usage is rising across Search, Cloud, and Gemini, supporting the long-term growth story.
  • Positive Sentiment: Several analysts reiterated bullish views or raised targets, and multiple commentary pieces argued the stock looks attractive after the pullback.
  • Positive Sentiment: Verizon signed a deal worth more than $1 billion with Google for dark fiber connectivity, adding another sign of infrastructure demand tied to Alphabet’s data-center buildout. Article Title
  • Neutral Sentiment: Waymo is reportedly considering ending its Uber partnership, which could affect how quickly Alphabet’s robotaxi business scales, but the direct financial impact is still unclear. Article Title
  • Neutral Sentiment: Alphabet also disclosed a large SpaceX stake and saw some institutional holders trim positions, but these items are secondary to the main debate over AI spending and cash flow.
  • Negative Sentiment: Investors were unnerved by Alphabet’s higher CapEx guidance and negative free cash flow, which raised concerns that AI spending may be outpacing near-term returns.
  • Negative Sentiment: Alphabet was also hit by an EU antitrust fine of about $1 billion, adding another regulatory overhang. Article Title
  • Negative Sentiment: Moody’s warned that the industry-wide AI buildout could threaten credit quality at Alphabet and other hyperscalers, reinforcing concerns about balance-sheet strain from heavy infrastructure investment. Article Title

Alphabet Price Performance

Shares of GOOG opened at $319.09 on Monday. The stock has a 50 day simple moving average of $360.63 and a 200 day simple moving average of $337.53. Alphabet Inc. has a 52-week low of $188.70 and a 52-week high of $404.47. 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 has a market capitalization of $3.87 trillion, a PE ratio of 16.03, a P/E/G ratio of 1.08 and a beta of 1.23.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $116.53 billion. During the same period last year, the company posted $2.31 EPS. The business’s quarterly revenue was up 24.2% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 17.25 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors 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 dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,415 shares of company stock worth $7,672,279 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

(Free Report)

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.

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