Oak Thistle LLC Makes New $4.14 Million Investment in Alphabet Inc. $GOOGL

Oak Thistle LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 17,023 shares of the information services provider’s stock, valued at approximately $4,138,000. Alphabet comprises approximately 0.6% of Oak Thistle LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other large investors also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $31,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC raised its position in Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the period. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 77.6% in the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after purchasing an additional 152 shares during the last quarter. Finally, S&T Bank PA boosted its position in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after buying an additional 99 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $302.46 on Friday. The firm has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.72 and a beta of 1.07. The stock has a fifty day moving average of $287.77 and a 200 day moving average of $232.84. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Melius Research boosted their target price on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Canaccord Genuity Group increased their price objective on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Daiwa Capital Markets raised their target price on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Guggenheim reiterated a “buy” rating and set a $375.00 price target (up from $330.00) on shares of Alphabet in a report on Monday, December 1st. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.18.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the sale, the director directly owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $299.80, for a total value of $9,743,500.00. Following the transaction, the chief executive officer owned 2,239,619 shares in the company, valued at $671,437,776.20. This trade represents a 1.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 226,128 shares of company stock valued at $63,183,331. 11.64% of the stock is currently owned by corporate 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.