SilverOak Wealth Management LLC Has $1.18 Million Holdings in Alphabet Inc. $GOOG

Key Points

• SilverOak Wealth Management LLC increased its holdings in Alphabet Inc. by 47.9%, owning a total of 6,677 shares valued at approximately $1.18 million as of the most recent filing.
• Major institutional investors, including Kingstone Capital Partners and Vanguard Group, have significantly increased their stakes in Alphabet, reflecting a growing institutional interest in the stock.
• Analysts have a generally positive outlook on Alphabet, with six analysts rating it as a "Strong Buy" and an average price target of $244.68 per share.

SilverOak Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 47.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,677 shares of the information services provider's stock after buying an additional 2,162 shares during the period. SilverOak Wealth Management LLC's holdings in Alphabet were worth $1,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Alphabet during the 1st quarter valued at $369,713,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho raised shares of Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $244.68.

Insider Buying and Selling

In related news, Director Frances Arnold sold 103 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares of the company's stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,372 shares of company stock valued at $55,110,740 in the last ninety days. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ GOOG opened at $253.79 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $232.18 and a 200 day simple moving average of $193.25. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

About Alphabet

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.

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