Alphabet Inc. $GOOG is Oriental Harbor Investment Master Fund's 3rd Largest Position

Key Points

• Oriental Harbor Investment Master Fund increased its stake in Alphabet Inc. by 40.8%, now holding 921,482 shares, which represents 11.7% of its investment portfolio.
• Several other institutional investors also boosted their stakes in Alphabet during the second quarter, with SilverOak Wealth Management LLC increasing its holdings by 47.9%.
• Alphabet recently reported earnings of $2.31 per share, exceeding analysts' expectations of $2.12 and reflecting a year-over-year revenue increase of 13.8%.

Oriental Harbor Investment Master Fund boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 40.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 921,482 shares of the information services provider's stock after acquiring an additional 267,164 shares during the period. Alphabet accounts for approximately 11.7% of Oriental Harbor Investment Master Fund's investment portfolio, making the stock its 3rd biggest position. Oriental Harbor Investment Master Fund's holdings in Alphabet were worth $163,462,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Sage Private Wealth Group LLC grew its stake in Alphabet by 8.4% during the 2nd quarter. Sage Private Wealth Group LLC now owns 5,340 shares of the information services provider's stock valued at $947,000 after acquiring an additional 415 shares in the last quarter. Roof Eidam Maycock Peralta LLC grew its stake in Alphabet by 1.9% during the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 27,473 shares of the information services provider's stock valued at $4,873,000 after acquiring an additional 505 shares in the last quarter. SilverOak Wealth Management LLC grew its stake in shares of Alphabet by 47.9% in the 2nd quarter. SilverOak Wealth Management LLC now owns 6,677 shares of the information services provider's stock valued at $1,184,000 after buying an additional 2,162 shares during the period. Mattson Financial Services LLC grew its stake in shares of Alphabet by 2.7% in the 2nd quarter. Mattson Financial Services LLC now owns 47,198 shares of the information services provider's stock valued at $8,372,000 after buying an additional 1,251 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services grew its stake in shares of Alphabet by 3.5% in the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 57,177 shares of the information services provider's stock valued at $10,143,000 after buying an additional 1,941 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,372 shares of company stock valued at $55,110,740. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $253.79 on Monday. The firm has a market cap of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $257.58. 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 company's 50 day moving average is $232.18 and its two-hundred day moving average is $193.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its 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 $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOOG shares. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, October 7th. Mizuho raised shares of Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, Pivotal Research increased their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.68.

Alphabet Company 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.

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:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.