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

SilverOak Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 47.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,677 shares of the information services provider’s stock after acquiring an additional 2,162 shares during the quarter. SilverOak Wealth Management LLC’s holdings in Alphabet were worth $1,184,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC raised its holdings 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 valued at $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Nuveen LLC bought a new position in shares of Alphabet in the first quarter valued at about $2,622,943,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% in the first 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 last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% in the first 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 last quarter. Finally, Strs Ohio bought a new position in shares of Alphabet in the first quarter valued at about $369,713,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,372 shares of company stock worth $55,110,740 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of 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. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. The stock has a market cap of $3.07 trillion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The stock’s 50-day moving average price is $232.18 and its two-hundred day moving average price is $193.25.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on GOOG. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. TD Cowen lifted their price objective on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.68.

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.