Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Oak Ridge Investments LLC

Oak Ridge Investments LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,446 shares of the information services provider’s stock after buying an additional 11,810 shares during the quarter. Alphabet comprises 3.1% of Oak Ridge Investments LLC’s holdings, making the stock its 7th biggest position. Oak Ridge Investments LLC’s holdings in Alphabet were worth $36,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Principia Wealth Advisory LLC raised its stake in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the first quarter valued at about $26,000. LSV Asset Management acquired a new position in Alphabet in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new position in Alphabet in the first quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet in the first quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,219 shares of company stock valued at $49,674,273. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $203.03 on Thursday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50 day simple moving average is $183.93 and its 200 day simple moving average is $174.75. The stock has a market capitalization of $2.46 trillion, a PE ratio of 21.62, a PEG ratio of 1.36 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is 8.95%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.19.

Alphabet Company 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.