Alphabet Inc. $GOOG Stock Holdings Lifted by Tanager Wealth Management LLP

Tanager Wealth Management LLP increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,666 shares of the information services provider’s stock after buying an additional 9,040 shares during the period. Alphabet accounts for about 4.1% of Tanager Wealth Management LLP’s portfolio, making the stock its 6th largest position. Tanager Wealth Management LLP’s holdings in Alphabet were worth $48,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Castlekeep Investment Advisors LLC bought a new position in Alphabet in the 2nd quarter worth about $29,000. Timbuktu Capital Management LLC purchased a new position in shares of Alphabet during the second quarter worth approximately $46,000. Robinswood Financial LLC purchased a new position in shares of Alphabet during the first quarter worth approximately $57,000. Commonwealth Retirement Investments LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $86,000. Finally, Harborfront Financial Group LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $89,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the transaction, the director owned 19,076 shares of the company’s stock, valued at $6,494,424.20. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the transaction, the chief accounting officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 339,182 shares of company stock valued at $6,740,093 over the last ninety days. 12.99% of the stock is owned by company insiders.

More Alphabet News

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 Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Truist Financial lowered their price target on Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Wedbush initiated coverage on Alphabet in a report on Thursday, July 16th. They set an “outperform” rating and a $445.00 price objective on the stock. UBS Group reaffirmed a “neutral” rating and set a $380.00 target price (up from $379.00) on shares of Alphabet in a research report on Wednesday, October 14th. TD Cowen reaffirmed a “buy” rating and set a $485.00 target price (up from $475.00) on shares of Alphabet in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein lowered their target price on Alphabet from $390.00 to $385.00 and set a “market perform” rating for the company in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $421.85.

Alphabet Trading Down 1.6%

NASDAQ:GOOG opened at $330.91 on Thursday. Alphabet Inc. has a one year low of $250.45 and a one year high of $404.47. 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 firm has a market cap of $4.05 trillion, a P/E ratio of 16.62, a P/E/G ratio of 0.97 and a beta of 1.19. The firm has a 50-day simple moving average of $340.41 and a 200-day simple moving average of $350.26.

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

Alphabet Company 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.