Alphabet Inc. (NASDAQ:GOOGL) is Oak Thistle LLC's 2nd Largest Position

Key Points

• Oak Thistle LLC significantly increased its holdings in Alphabet Inc. by 1,083.3% during the first quarter, now owning approximately $6.1 million worth of shares, making it the firm's second-largest position.
• Alphabet announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.43%, reflecting a payout ratio of 8.95%.
• Analyst ratings for Alphabet show a consensus of "Moderate Buy", with price targets raised by several brokerages, including an increase to $225 from Wedbush.

Oak Thistle LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1,083.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,710 shares of the information services provider's stock after buying an additional 36,354 shares during the period. Alphabet comprises approximately 1.2% of Oak Thistle LLC's holdings, making the stock its 2nd largest holding. Oak Thistle LLC's holdings in Alphabet were worth $6,141,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD boosted its position in shares of Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the last quarter. Capital Research Global Investors lifted its stake in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Finally, Northern Trust Corp boosted its holdings in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer 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. Over the last ninety days, insiders have sold 249,399 shares of company stock valued at $43,525,794. 11.64% of the stock is owned by corporate insiders.

Alphabet Trading Down 1.4%

NASDAQ:GOOGL traded down $2.77 during trading hours on Friday, hitting $189.13. 34,777,882 shares of the company were exchanged, compared to its average volume of 37,170,977. The stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. 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 Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a fifty day simple moving average of $177.91 and a 200 day simple moving average of $173.12.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. Truist Financial restated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Bank of America lifted their target price on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Oppenheimer lifted their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, DA Davidson lifted their target price on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.39.

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.