Oak Grove Capital LLC Grows Position in Alphabet Inc. $GOOG

Oak Grove Capital LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 100.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,844 shares of the information services provider’s stock after purchasing an additional 1,425 shares during the period. Oak Grove Capital LLC’s holdings in Alphabet were worth $893,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new position in Alphabet during the fourth quarter valued at approximately $38,000. Imprint Wealth LLC acquired a new stake in shares of Alphabet in the third quarter worth $31,000. Bard Associates Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $41,000. Towne Trust Company N.A raised its stake in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 160,516 shares of company stock worth $7,344,604. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $367.46 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $364.31 and its 200 day moving average price is $331.07. The company has a market cap of $4.45 trillion, a PE ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.22. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period in the prior year, the company posted $2.81 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is currently 6.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research note on Wednesday, May 20th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Citigroup restated a “market outperform” rating on shares of Alphabet in a research note on Monday, June 1st. Finally, Truist Financial set a $430.00 price target on shares of Alphabet in a research note on Monday, June 1st. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $376.78.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.