Alphabet Inc. $GOOG Stock: Tanager Wealth Management LLP Increases Stake

Tanager Wealth Management LLP raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,666 shares of the information services provider’s stock after buying an additional 9,040 shares during the quarter. Alphabet comprises about 4.1% of Tanager Wealth Management LLP’s investment portfolio, making the stock its 6th largest holding. Tanager Wealth Management LLP’s holdings in Alphabet were worth $48,612,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 83 shares of the company’s stock in a transaction 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 sale, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet 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 transaction, the chief accounting officer owned 27,386 shares of the company’s stock, valued at $9,125,015.20. The trade was a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 339,182 shares of company stock valued at $6,740,093. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus set a $485.00 price target on shares of Alphabet in a report on Thursday, October 8th. DZ Bank raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a report on Friday, October 9th. Wolfe Research reiterated an “outperform” rating on shares of Alphabet in a report on Thursday, August 27th. Finally, Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Six analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $421.85.

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

Alphabet Stock Down 1.6%

GOOG stock opened at $330.91 on Thursday. The firm’s fifty day simple moving average is $340.41 and its 200-day simple moving average is $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. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a 12 month low of $250.45 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $116.53 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 20.60 earnings per share for the current year.

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.