Oakview Capital Management L.P. Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Oakview Capital Management L.P. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 79.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,425 shares of the information services provider’s stock after selling 27,926 shares during the period. Alphabet comprises 4.3% of Oakview Capital Management L.P.’s portfolio, making the stock its 12th largest holding. Oakview Capital Management L.P.’s holdings in Alphabet were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, September 25th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Alphabet Stock Up 0.9 %

Shares of NASDAQ:GOOGL opened at $164.38 on Wednesday. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $161.93 and a two-hundred day moving average of $167.52. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the business earned $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,592 shares of company stock worth $35,922,911. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Profile

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.