Silver Oak Securities Incorporates Increased Investment in Alphabet Inc. (NASDAQ:GOOG)

On October 27, 2024, Silver Oak Securities Incorporated reported a notable increase in its investment in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the third quarter. The firm raised its stake by 9.6%, acquiring an additional 944 shares to hold a total of 10,730 shares. By the end of this reporting period, Silver Oak’s holdings in Alphabet were valued at approximately $1,771,000.

Other large investors have also made adjustments to their positions in Alphabet. For instance, Twelve Points Wealth Management LLC raised its holdings by 0.7% in the second quarter, bringing its total to 7,985 shares worth $1,465,000 after purchasing an additional 55 shares. Similarly, PCG Wealth Advisors LLC increased its stake by 3.1%, ending up with 1,880 shares valued at $345,000. Investment Advisory Services Inc. TX ADV added 1.6% to its holdings, now owning 3,636 shares worth $667,000. Furthermore, Advisors Management Group Inc. ADV raised its position in Alphabet by 2.0% and holds 2,944 shares valued at $540,000. In the first quarter, Mark Sheptoff Financial Planning LLC increased its holdings by 11.1%, now possessing 600 shares valued at $91,000. Overall, institutional investors collectively own 27.26% of Alphabet's stock.

Recent Analyst Ratings

Alphabet has recently seen several updates from market analysts. On October 7, UBS Group lowered its target price from $204.00 to $187.00 and issued a "neutral" rating. Cantor Fitzgerald upgraded Alphabet to a "hold" rating back on September 5, while Wolfe Research gave it a "strong-buy" rating on July 16. DA Davidson also raised their rating to "hold" on September 10. Notably, Oppenheimer reduced its price target from $210.00 to $185.00 but maintained an "outperform" rating. In total, four analysts have a hold rating, eight have a buy rating, and one has a strong buy rating for the stock. Current data indicates a general average rating of "Moderate Buy" with a target price of around $186.90.

Alphabet's Price Overview

As of the latest market session, Alphabet stock opened at $166.99. Its 50-day simple moving average stands at $163.35, while the 200-day average is $170.04. The company shows a strong liquidity position with a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio also at 2.08. Over the past year, Alphabet has experienced a low of $121.46 and a high of $193.31, holding a significant market capitalization of $2.06 trillion. The stock features a price-to-earnings (PE) ratio of 23.96 and a P/E/G ratio of 1.27, with a beta of 1.04, indicating its volatility in relation to the overall market.

Insider Transactions

In addition to trading activities by large investors, some insider transactions have been reported. CEO Sundar Pichai sold 22,500 shares on October 16 for an average price of $166.30, totaling approximately $3,741,750. Following this sale, he still maintains a substantial holding of 2,106,806 shares valued at around $350,361,838. Additionally, CAO Amie Thuener O’toole sold 682 shares on August 2 at an average price of $168.00, amounting to $114,576. After this sale, she retained ownership of 31,334 shares worth $5,264,112. This activity reflects an ongoing trend, as, within the last three months, insiders have sold 220,426 shares valued at nearly $35,993,340, indicating insider ownership remains at 12.99%.

About Alphabet Inc.

Alphabet Inc. operates as a leading information services provider through various products and platforms across multiple global regions including the United States, Europe, and Asia. The company comprises three primary segments: Google Services, Google Cloud, and Other Bets, delivering a vast range of products such as advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

investment, Alphabet, securities