E. Ohman J or Asset Management AB Increases Stake in Alphabet Inc.

On October 26, 2024, E. Ohman J or Asset Management AB announced a 2.2% increase in its holdings of Alphabet Inc. (NASDAQ:GOOG) during the third quarter. This institutional investor now owns 169,340 shares of the renowned information services provider after acquiring an additional 3,700 shares throughout the quarter. As per their latest filing with the SEC, E. Ohman J or Asset Management AB’s investments in Alphabet are valued at approximately $28.31 million.

Other hedge funds have also recently adjusted their positions regarding Alphabet shares. Abich Financial Wealth Management LLC notably increased its stake by an astounding 9,200%, owning 186 shares valued at $34,000 after purchasing an additional 184 shares last quarter. Additionally, 1620 Investment Advisors Inc. established a new stake in Alphabet during the second quarter, worth $37,000. Other investment firms such as HWG Holdings LP, Slocum Gordon & Co LLP, and Hoese & Co LLP have likewise entered new positions or boosted existing stakes in Alphabet, highlighting significant interest in the company among institutional investors. Currently, institutional investors hold around 27.26% of Alphabet’s stock.

Current Trading Activity

Interestingly, recent insider trading activities at Alphabet have also caught attention. On August 2nd, CAO Amie Thuener O’toole disposed of 682 shares at an average price of $168.00, totaling $114,576. Following this sale, she holds 31,334 shares valued at roughly $5.26 million. Additionally, CEO Sundar Pichai sold 22,500 shares on August 7th for about $3.65 million. In total, insiders have sold approximately 220,426 shares valued at $35.99 million in the past three months, with insiders currently owning 12.99% of the company’s stock.

Alphabet's Recent Stock Performance

As of the last trading session, Alphabet’s stock opened at $166.99. The company has witnessed a range between a 52-week low of $121.46 and a high of $193.31. With a market capitalization of $2.06 trillion, Alphabet exhibits a debt-to-equity ratio of 0.04, while its quick and current ratios stand at 2.08. The stock’s 50-day and 200-day moving averages are currently $163.31 and $169.88, respectively, reflecting its stable trading range.

In a more detailed financial performance report, Alphabet recently reported earnings of $1.89 per share, surpassing analysts' expectations of $1.85. The company revealed a net margin of 26.70% and a return on equity of 30.49%. With a quarterly revenue of $84.74 billion, Alphabet showed a significant year-over-year revenue growth of 13.6%.

Analyst Opinions on Alphabet

Equity research analysts have shared various insights regarding Alphabet's stock. Wolfe Research recently upgraded its rating to a “strong-buy” on July 16th. Meanwhile, UBS Group adjusted its price target from $204.00 to $187.00, maintaining a “neutral” stance. Other firms such as Cantor Fitzgerald, Oppenheimer, and Scotiabank have also evaluated and adjusted their ratings and target prices based on recent market conditions. As of now, Alphabet has received an average rating of “Moderate Buy” from multiple analysts, with an average target price of $186.90.

About Alphabet Inc.

Alphabet Inc. operates globally, offering a wide variety of products and services through its Google Services, Google Cloud, and Other Bets segments. They provide popular services like Google Search, YouTube, and various apps and devices.

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