Oppenheimer & Co. Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,722 shares of the information services provider's stock after selling 3,576 shares during the period. Alphabet accounts for about 1.0% of Oppenheimer & Co. Inc.'s investment portfolio, making the stock its 11th biggest holding. Oppenheimer & Co. Inc.'s holdings in Alphabet were worth $66,667,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Vantage Point Financial LLC raised its holdings in shares of Alphabet by 2.9% during the first quarter. Vantage Point Financial LLC now owns 3,538 shares of the information services provider's stock valued at $553,000 after buying an additional 101 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Alphabet by 16.8% during the first quarter. Continuum Advisory LLC now owns 18,952 shares of the information services provider's stock valued at $2,961,000 after buying an additional 2,730 shares during the last quarter. CV Advisors LLC raised its holdings in shares of Alphabet by 2.4% during the first quarter. CV Advisors LLC now owns 11,669 shares of the information services provider's stock valued at $1,789,000 after buying an additional 268 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Alphabet by 14.7% during the first quarter. Brown Lisle Cummings Inc. now owns 31,634 shares of the information services provider's stock valued at $4,942,000 after buying an additional 4,062 shares during the last quarter. Finally, Spinnaker Investment Group LLC raised its holdings in shares of Alphabet by 14.6% during the first quarter. Spinnaker Investment Group LLC now owns 2,588 shares of the information services provider's stock valued at $404,000 after buying an additional 329 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of recent analyst reports. UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Westpark Capital reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Finally, KeyCorp lowered their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $204.88.
Get Our Latest Stock Analysis on Alphabet
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,070 shares of company stock worth $37,745,632. Corporate insiders own 12.99% of the company's stock.
Alphabet Trading Down 1.0%
Alphabet stock opened at $166.01 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm's 50 day moving average price is $166.40 and its two-hundred day moving average price is $176.33.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the company posted $1.89 EPS. The company's quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.51%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.
About Alphabet
(
Free Report)
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.
See Also
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).
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