Oak Grove Capital LLC Buys 18,160 Shares of Alphabet Inc. $GOOGL

Oak Grove Capital LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 150.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,200 shares of the information services provider’s stock after acquiring an additional 18,160 shares during the quarter. Alphabet makes up approximately 1.0% of Oak Grove Capital LLC’s holdings, making the stock its 20th biggest holding. Oak Grove Capital LLC’s holdings in Alphabet were worth $4,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Mystic Asset Management Inc. raised its position in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co grew its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $3,119,000. Cypress Capital LLC increased its stake in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the period. Finally, Falcon Wealth Planning raised its holdings in shares of Alphabet by 15.7% in the first quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider’s stock valued at $1,531,000 after acquiring an additional 1,340 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. Loop Capital reiterated a “hold” rating and set a $190.00 target price (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Bank of America upped their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Roth Capital increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $211.53.

Alphabet Trading Down 1.1%

NASDAQ:GOOGL opened at $199.32 on Thursday. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $185.70 and a 200 day moving average of $173.38.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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 is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the 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 of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the sale, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,219 shares of company stock worth $40,725,772 in the last three months. Insiders own 11.64% of the company’s stock.

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.