Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,524 shares of the information services provider’s stock after acquiring an additional 382 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Alphabet were worth $3,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pachira Investments Inc. increased its position in shares of Alphabet by 5.2% during the 1st quarter. Pachira Investments Inc. now owns 4,192 shares of the information services provider’s stock worth $633,000 after purchasing an additional 208 shares during the last quarter. PCG Wealth Advisors LLC increased its position in shares of Alphabet by 4.6% during the 1st quarter. PCG Wealth Advisors LLC now owns 3,446 shares of the information services provider’s stock worth $520,000 after purchasing an additional 153 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of Alphabet by 4.3% during the 1st quarter. Kovack Advisors Inc. now owns 98,232 shares of the information services provider’s stock worth $14,826,000 after purchasing an additional 4,089 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Alphabet by 0.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 43,079 shares of the information services provider’s stock worth $6,502,000 after purchasing an additional 132 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in Alphabet by 16.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 239,116 shares of the information services provider’s stock valued at $36,090,000 after acquiring an additional 32,925 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.3 %

GOOGL opened at $169.74 on Wednesday. The firm has a market cap of $2.09 trillion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $162.59 and its two-hundred day moving average is $169.31. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOGL. Evercore ISI raised their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. JMP Securities raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,552 shares of company stock worth $34,433,848 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.