SkyOak Wealth LLC Has $5.01 Million Position in Alphabet Inc. (NASDAQ:GOOG)

SkyOak Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,315 shares of the information services provider’s stock after selling 235 shares during the period. Alphabet accounts for 1.2% of SkyOak Wealth LLC’s portfolio, making the stock its 21st largest holding. SkyOak Wealth LLC’s holdings in Alphabet were worth $5,010,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the second quarter worth approximately $37,000. Slocum Gordon & Co LLP bought a new stake in Alphabet during the second quarter worth approximately $44,000. Hoese & Co LLP boosted its position in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new stake in Alphabet during the second quarter worth approximately $48,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,667 shares of company stock worth $33,964,256. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.3 %

GOOG opened at $160.81 on Thursday. The business has a 50 day moving average of $167.19 and a 200-day moving average of $166.60. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s payout ratio is 12.27%.

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.