Alphabet Inc. $GOOG Shares Purchased by Secure Asset Management LLC

Secure Asset Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,942 shares of the information services provider’s stock after purchasing an additional 1,604 shares during the period. Secure Asset Management LLC’s holdings in Alphabet were worth $3,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Readystate Asset Management LP bought a new position in Alphabet in the 2nd quarter valued at approximately $45,352,000. Arrowstreet Capital Limited Partnership boosted its position in Alphabet by 76.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 14,581,870 shares of the information services provider’s stock worth $4,182,952,000 after buying an additional 6,300,900 shares during the period. State Street Corp boosted its position in Alphabet by 2.8% during the 2nd quarter. State Street Corp now owns 190,923,442 shares of the information services provider’s stock worth $67,458,980,000 after buying an additional 5,208,690 shares during the period. BlackRock Inc. grew its holdings in Alphabet by 1.4% during the 2nd quarter. BlackRock Inc. now owns 369,922,502 shares of the information services provider’s stock worth $130,704,718,000 after acquiring an additional 5,164,200 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Alphabet by 78.7% during the 1st quarter. SG Americas Securities LLC now owns 10,824,846 shares of the information services provider’s stock worth $3,105,215,000 after acquiring an additional 4,768,117 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, the chief accounting officer owned 27,386 shares in the company, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 339,182 shares of company stock worth $6,740,093. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $330.91 on Thursday. Alphabet Inc. has a 1 year low of $250.45 and a 1 year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The company has a market capitalization of $4.05 trillion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 0.97 and a beta of 1.19. The business has a 50-day moving average of $340.41 and a 200-day moving average of $350.26.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 20.60 earnings per share for the current year.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reached an agreement to make OpenAI’s latest models and Codex coding agent available through Google Cloud. The deal could increase cloud demand, improve infrastructure utilization and strengthen Google’s position in enterprise AI. OpenAI to sell its top models on Google Cloud
• Positive Sentiment: Analysts and investors continue to point to accelerating Google Cloud growth, rising demand for Alphabet’s custom AI chips and resilient Search revenue as potential catalysts for the upcoming earnings report. Bank of America expects a modest third-quarter beat, while several analysts maintain bullish long-term targets. Alphabet set for earnings beat
• Positive Sentiment: Waymo expanded its autonomous ride-hailing service to Las Vegas airport and plans further international and fleet expansion, providing Alphabet with a potential long-term growth avenue beyond advertising and cloud. Waymo starts offering rides at the Las Vegas airport

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Oppenheimer restated an “outperform” rating and issued a $400.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Thursday, July 23rd. Evercore lifted their price target on shares of Alphabet from $420.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 17th. Wells Fargo & Company set a $417.00 price objective on shares of Alphabet and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Finally, Arete Research boosted their price objective on shares of Alphabet from $425.00 to $450.00 in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $421.85.

Alphabet Profile

Alphabet Inc is a technology holding company best known as the parent organization of Google. Founded in 2015 through a corporate restructuring, Alphabet oversees Google and a collection of businesses focused on technology, online services, communications, artificial intelligence, and other emerging areas.

Google’s principal products and services include its internet search engine, digital advertising platforms, YouTube, Android, Chrome, Google Maps, Google Play, and Google Workspace. The company also provides cloud computing, data storage, cybersecurity, productivity, and artificial intelligence services through Google Cloud.