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Alphabet Inc. (NASDAQ:GOOGL), currently trading near its 52-week high of $235.76, reported Friday that the European Commission (EC) has imposed a €2.95 billion fine on its subsidiary Google LLC for violating European competition laws. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet. According to a press release statement, the EC determined that Google engaged in "self-preferencing" practices in its advertising technology business, affecting both the buy-side and sell-side of the market.
The EC’s decision requires Google to cease the identified "self-preferencing" activities. Alphabet stated that Google plans to appeal the ruling. The company also announced it expects to record the fine as an accrual in its financial statements for the third quarter of 2025.
This information is based on a recent SEC filing by Alphabet Inc.
In other recent news, Alphabet is expected to face an antitrust fine from the European Union related to its adtech practices. This fine, initially scheduled for an earlier announcement, was delayed due to internal opposition within the EU. Meanwhile, Alphabet has been actively involved in AI education, with CEO Sundar Pichai announcing a $150 million allocation for AI education and digital wellbeing grants at a White House event. This funding is part of a larger $1 billion commitment and includes specific grants to organizations such as Code.org and the Flourish Fund.
In terms of stock analysis, Tigress Financial Partners has raised its price target for Alphabet to $280, maintaining a Strong Buy rating. This adjustment is attributed to Alphabet’s strong position in AI and a favorable Chrome decision that alleviates regulatory concerns. Similarly, Canaccord Genuity increased its price target to $270, following a lenient antitrust ruling in the Google-DOJ Search case. BofA Securities also reiterated its Buy rating, highlighting reduced uncertainty after a recent Search remedy ruling, which could benefit Google’s distribution agreements for its Gemini AI product.
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