Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.3% during the 3rd quarter, Holdings Channel reports. The fund owned 31,072 shares of the information services provider’s stock after selling 3,967 shares during the quarter. Oak Harvest Investment Services’ holdings in Alphabet were worth $5,153,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors raised its holdings in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares of the company’s stock, valued at $4,838,460. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,752 shares of company stock worth $40,156,829 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. JMP Securities raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Guggenheim raised their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $180.35 on Tuesday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company’s fifty day moving average is $163.54 and its two-hundred day moving average is $169.74. The firm has a market capitalization of $2.21 trillion, a P/E ratio of 23.92, a PEG ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. Analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

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.