Oak Harvest Investment Services Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Oak Harvest Investment Services boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 41.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,129 shares of the information services provider’s stock after acquiring an additional 628 shares during the quarter. Oak Harvest Investment Services’ holdings in Alphabet were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Capital International Investors increased its position in Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after buying an additional 862,550 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $4,101,040,000. Charles Schwab Investment Management Inc. lifted its position in Alphabet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after acquiring an additional 481,376 shares during the period. Sanders Capital LLC grew its stake in shares of Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after purchasing an additional 813,428 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Alphabet by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock valued at $1,781,200,000 after purchasing an additional 97,603 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOG opened at $187.39 on Friday. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.62. The firm has a 50-day moving average price of $176.58 and a 200 day moving average price of $157.00. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,288 shares of company stock valued at $25,345,053. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOG. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Finally, Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.