Silver Oak Securities Incorporated Boosts Stake in Alphabet Inc. (NASDAQ: GOOG)

Silver Oak Securities Incorporated has raised its investment in Alphabet Inc. (NASDAQ: GOOG) by 9.6% during the third quarter, according to a report from HoldingsChannel.com. This financial firm now holds 10,730 shares of the tech giant’s stock after adding 944 new shares throughout the quarter. As of the latest reporting period, Silver Oak's total holdings in Alphabet are valued at approximately $1,771,000.

Several other institutional investors have also adjusted their positions in Alphabet in recent months. For instance, Twelve Points Wealth Management LLC increased its shareholding in the second quarter by 0.7%, bringing its total to 7,985 shares valued at $1,465,000 after acquiring an additional 55 shares. Similarly, PCG Wealth Advisors LLC raised its stake by 3.1% in the same quarter, now owning 1,880 shares worth $345,000 following a purchase of 57 shares. Investment Advisory Services Inc. TX ADV also raised its position by 1.6%, now with 3,636 shares valued at $667,000 after acquiring 57 shares. Additionally, Advisors Management Group Inc. ADV increased its holdings by 2.0%, totaling 2,944 shares worth $540,000 after adding 58 shares. Finally, Mark Sheptoff Financial Planning LLC increased its holdings by 11.1% in the first quarter and now has 600 shares valued at $91,000 after acquiring an additional 60 shares. Overall, institutional investors control 27.26% of Alphabet’s shares.

Recent Changes in Analyst Ratings

Recently, Alphabet has seen several changes in its analyst ratings. UBS Group lowered its target price for Alphabet from $204.00 to $187.00, assigning a “neutral” rating on October 7th. In contrast, Cantor Fitzgerald upgraded the company's rating to “hold” on September 5th. Wolfe Research gave Alphabet a “strong buy” rating on July 16th. On September 10th, DA Davidson also rated Alphabet as a “hold.” Oppenheimer adjusted its target for Alphabet down from $210.00 to $185.00 while still placing an “outperform” rating on it as of September 25th. Currently, the stock holds an average rating of “Moderate Buy” with an average target price of approximately $186.90, based on data from MarketBeat.

Performance Overview of Alphabet

On Friday, Alphabet's stock opened at $166.99. The 50-day simple moving average stands at $163.35, while the 200-day average is at $170.04. Alphabet enjoys a low debt-to-equity ratio of 0.04, and both its quick and current ratios are 2.08. Over the past year, the stock reached a low of $121.46 and a high of $193.31. Alphabet’s market capitalization is around $2.06 trillion, with a PE ratio of 23.96 and a P/E/G ratio of 1.27, alongside a beta of 1.04.

Insider Transactions

In the realm of insider trading, CEO Sundar Pichai recently sold 22,500 shares on October 16th at an average price of $166.30, amounting to a total value of $3,741,750. Post-sale, he retains direct ownership of 2,106,806 shares valued at about $350,361,837.80, which is a negligible change in his total ownership percentage. This transaction was publicly disclosed in a filing with the Securities & Exchange Commission. Additionally, CAO Amie Thuener O’Toole sold 682 shares on August 2nd at an average price of $168.00, totaling $114,576. Following this, she owns 31,334 shares valued at $5,264,112. Over the last three months, insiders sold 220,426 shares worth a total of $35,993,340, and insiders maintain 12.99% ownership of the company’s stock.

About Alphabet

Alphabet Inc. is a multinational conglomerate that provides a wide array of products and services around the globe, including the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. The company operates through its segments, including Google Services, Google Cloud, and Other Bets, and offers various products such as ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Silver, Alphabet, Investment