Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Raised by Oak Ridge Investments LLC

Oak Ridge Investments LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,586 shares of the information services provider’s stock after buying an additional 9,352 shares during the quarter. Alphabet comprises approximately 2.0% of Oak Ridge Investments LLC’s holdings, making the stock its 9th largest holding. Oak Ridge Investments LLC’s holdings in Alphabet were worth $23,482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC increased its position in shares of Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares during the period. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of Alphabet by 9.0% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 15,356 shares of the information services provider’s stock valued at $2,318,000 after purchasing an additional 1,268 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Alphabet by 1.2% in the first quarter. Proficio Capital Partners LLC now owns 37,256 shares of the information services provider’s stock valued at $5,623,000 after purchasing an additional 431 shares during the period. Finally, CapWealth Advisors LLC grew its stake in Alphabet by 2,209.9% in the first quarter. CapWealth Advisors LLC now owns 39,246 shares of the information services provider’s stock worth $5,923,000 after purchasing an additional 37,547 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. KeyCorp increased their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 0.7 %

Alphabet stock opened at $181.62 on Wednesday. The stock’s 50 day moving average price is $163.88 and its 200 day moving average price is $169.91. The company has a market cap of $2.22 trillion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,752 shares of company stock worth $40,156,829. 11.55% of the stock is currently owned by insiders.

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.