Silver Oak Securities Incorporated Boosts Holdings in Alphabet Inc. $GOOGL

Silver Oak Securities Incorporated lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,597 shares of the information services provider’s stock after acquiring an additional 3,534 shares during the period. Silver Oak Securities Incorporated’s holdings in Alphabet were worth $7,924,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $31,000. Corsicana & Co. purchased a new position in shares of Alphabet in the 3rd quarter worth $54,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in Alphabet by 37.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares during the last quarter. Finally, S&T Bank PA grew its position in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 99 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOGL shares. HSBC raised their price objective on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $365.00 price target (up previously from $330.00) on shares of Alphabet in a report on Thursday, December 11th. Morgan Stanley lifted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. DA Davidson reissued a “neutral” rating and issued a $300.00 price objective on shares of Alphabet in a research report on Tuesday, November 25th. Finally, Citigroup reissued an “outperform” rating on shares of Alphabet in a research note on Wednesday, December 31st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.19.

Read Our Latest Stock Analysis on GOOGL

Alphabet Trading Up 1.0%

GOOGL opened at $328.57 on Friday. The firm’s 50 day moving average is $306.19 and its 200-day moving average is $249.31. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $330.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.96 trillion, a P/E ratio of 32.40, a P/E/G ratio of 1.81 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,829 shares of the stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the transaction, the insider owned 42,972 shares of the company’s stock, valued at approximately $13,531,453.08. This represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 225,187 shares of company stock worth $66,695,036. 11.64% of the stock is currently owned by corporate insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.