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

Secure Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.2% during the 3rd quarter, Holdings Channel reports. The fund owned 10,942 shares of the information services provider’s stock after acquiring 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 SEC filing.

A number of other large investors have also bought and sold shares of the stock. Denali Advisors LLC grew its stake in Alphabet by 14.8% in the second quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider’s stock valued at $37,449,000 after acquiring an additional 13,700 shares during the period. Heck Capital Advisors LLC raised its position in shares of Alphabet by 298.2% during the second quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider’s stock worth $7,854,000 after purchasing an additional 16,647 shares during the period. Montchanin Asset Management LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $7,075,000. Sax Wealth Advisors LLC lifted its holdings in shares of Alphabet by 13.3% in the 2nd quarter. Sax Wealth Advisors LLC now owns 30,489 shares of the information services provider’s stock worth $10,773,000 after purchasing an additional 3,575 shares in the last quarter. Finally, TrueMark Investments LLC bought a new position in shares of Alphabet in the 1st quarter worth $1,277,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was 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 of the company’s stock, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 339,182 shares of company stock worth $6,740,093 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOG stock opened at $330.91 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The business has a 50-day simple moving average of $340.41 and a two-hundred day simple moving average of $350.26. The company has a market capitalization of $4.05 trillion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 0.97 and a beta of 1.19. Alphabet Inc. has a 52-week low of $250.45 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The firm had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. Research analysts expect that Alphabet Inc. will post 20.60 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOG. Wedbush initiated coverage on shares of Alphabet in a research report on Thursday, July 16th. They issued an “outperform” rating and a $445.00 price target for the company. DA Davidson lowered their price objective on shares of Alphabet from $375.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, July 23rd. China Renaissance lowered their price objective on shares of Alphabet from $485.00 to $445.00 and set a “buy” rating on the stock in a report on Friday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $480.00 price objective on shares of Alphabet in a research note on Tuesday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $421.85.

Key Headlines Impacting Alphabet

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

About Alphabet

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.