Oak Harvest Investment Services Raises Holdings in Alphabet Inc. $GOOGL

Key Points

• Oak Harvest Investment Services increased its holdings in Alphabet Inc. by 10%, acquiring an additional 3,835 shares to reach a total of 42,263 shares valued at $6.54 million.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their stakes in Alphabet during the 1st quarter, with GAMMA lifting its holdings by 16,993.2%.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which will be paid to shareholders on September 15th, reflecting an annualized yield of 0.4%.

Oak Harvest Investment Services raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,263 shares of the information services provider's stock after purchasing an additional 3,835 shares during the period. Oak Harvest Investment Services' holdings in Alphabet were worth $6,536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter valued at $4,317,606,000. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after buying an additional 9,042,271 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after buying an additional 7,774,811 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOGL opened at $207.14 on Wednesday. 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 business's 50-day simple moving average is $188.07 and its two-hundred day simple moving average is $173.51. The stock has a market cap of $2.51 trillion, a PE ratio of 22.06, a P/E/G ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $210.52.

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, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald increased their price target on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. JMP Securities increased their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Citigroup raised their target price on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Bank of America raised their target price on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock valued at $47,223,172 in the last ninety days. Insiders own 11.55% of the company's stock.

Alphabet 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.

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