Oak Family Advisors LLC Sells 1,505 Shares of Alphabet Inc. $GOOG

Oak Family Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,385 shares of the information services provider’s stock after selling 1,505 shares during the period. Oak Family Advisors LLC’s holdings in Alphabet were worth $4,413,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kathmere Capital Management LLC boosted its position in shares of Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares during the period. Baltimore Washington Financial Advisors Inc. increased its position in Alphabet by 0.9% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock worth $53,920,000 after acquiring an additional 2,009 shares during the period. Gerber Kawasaki Wealth & Investment Management raised its stake in Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after purchasing an additional 2,850 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after purchasing an additional 4,239 shares during the last quarter. Finally, World Investment Advisors boosted its holdings in Alphabet by 8.7% in the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock valued at $59,827,000 after purchasing an additional 15,280 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $334.71 on Friday. The firm has a market cap of $4.06 trillion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. Alphabet Inc. has a 12 month low of $172.71 and a 12 month high of $404.47. 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 $366.33 and its two-hundred day moving average price is $331.94.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating 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 firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the firm posted $2.81 EPS. The business’s revenue was up 21.8% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the transaction, the director owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,523 shares of company stock worth $4,863,526 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. Scotiabank reiterated an “outperform” rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Truist Financial set a $430.00 price objective on Alphabet in a report on Monday, June 1st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $435.00 price objective on shares of Alphabet in a research report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $376.78.

Check Out Our Latest Report on Alphabet

About Alphabet

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.