Oakwell Private Wealth Management LLC Raises Stock Holdings in Alphabet Inc. $GOOG

Oakwell Private Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 11.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,937 shares of the information services provider’s stock after purchasing an additional 312 shares during the period. Oakwell Private Wealth Management LLC’s holdings in Alphabet were worth $521,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC increased its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. Nuveen LLC purchased a new position in shares of Alphabet in the first quarter worth $2,622,943,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio purchased a new position in shares of Alphabet in the first quarter worth $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GOOG shares. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Scotiabank set a $336.00 price objective on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 190,896 shares of company stock worth $45,092,175. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $284.75 on Thursday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The stock has a market cap of $3.44 trillion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $249.02 and its 200-day moving average price is $203.67.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.