Alphabet Inc. $GOOGL Shares Purchased by Oak Ridge Investments LLC

Oak Ridge Investments LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,395 shares of the information services provider's stock after buying an additional 7,373 shares during the quarter. Alphabet accounts for about 2.0% of Oak Ridge Investments LLC's holdings, making the stock its 10th biggest position. Oak Ridge Investments LLC's holdings in Alphabet were worth $24,340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Eagle Capital Management LLC boosted its holdings in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC boosted its holdings in Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after purchasing an additional 13,564 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.9%

GOOGL opened at $201.57 on Wednesday. The company has a 50 day moving average of $185.26 and a 200 day moving average of $173.20. The company has a market cap of $2.44 trillion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,319 shares of company stock valued at $44,243,272. Company insiders own 11.55% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JMP Securities lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Cantor Fitzgerald lifted their price objective on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $211.53.

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.

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.