Oak Associates Ltd. OH Trims Holdings in Alphabet Inc. $GOOGL

Key Points

• Oak Associates Ltd. OH reduced its stake in Alphabet Inc. (GOOGL) by 12.6%, selling 27,502 shares during the first quarter, and now holds 189,971 shares worth approximately $29.4 million.
• Alphabet's stock recently reported an increase in quarterly earnings, posting a strong $2.31 earnings per share compared to the $2.15 consensus estimate, alongside a revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share to be paid on September 15th, with an annualized dividend yield of 0.4%.

Oak Associates Ltd. OH trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 189,971 shares of the information services provider's stock after selling 27,502 shares during the period. Alphabet comprises 2.2% of Oak Associates Ltd. OH's investment portfolio, making the stock its 16th biggest holding. Oak Associates Ltd. OH's holdings in Alphabet were worth $29,377,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nia Impact Advisors LLC raised its stake in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after acquiring an additional 59 shares during the period. Enzi Wealth raised its stake in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares during the period. Whipplewood Advisors LLC raised its stake in shares of Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the period. Aspire Capital Advisors LLC raised its stake in shares of Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after acquiring an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. raised its stake in shares of Alphabet by 2.1% in the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after acquiring an additional 67 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction 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 owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company'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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock worth $47,225,230. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Up 0.6%

NASDAQ GOOGL traded up $1.27 on Friday, hitting $212.91. 39,702,089 shares of the stock were exchanged, compared to its average volume of 29,138,272. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $214.65. The company has a market cap of $2.57 trillion, a PE ratio of 22.67, a PEG ratio of 1.43 and a beta of 1.01. The company has a 50-day moving average price of $190.44 and a 200-day moving average price of $173.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOGL shares. Loop Capital reaffirmed a "hold" rating and set a $190.00 target price (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. BMO Capital Markets upped their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Susquehanna upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Piper Sandler upped their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

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.