Oak Ridge Investments LLC Has $36.78 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Oak Ridge Investments LLC increased its stock position in Alphabet Inc. by 5.3% during the first quarter, owning 235,446 shares worth approximately $36.78 million, making it their 7th largest holding.
• Insider selling was reported with Director John L. Hennessy and CEO Sundar Pichai selling shares recently, indicating a 12.63% and 1.29% decrease in their respective positions.
• Research analysts have shown a generally positive outlook for Alphabet, with price targets being raised by multiple firms and a consensus rating of "Moderate Buy".

Oak Ridge Investments LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 235,446 shares of the information services provider's stock after buying an additional 11,810 shares during the period. Alphabet comprises approximately 3.1% of Oak Ridge Investments LLC's holdings, making the stock its 7th biggest position. Oak Ridge Investments LLC's holdings in Alphabet were worth $36,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. OneAscent Investment Solutions LLC bought a new position in Alphabet in the 1st quarter worth about $244,000. Vestmark Advisory Solutions Inc. grew its position in Alphabet by 49.0% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 23,889 shares of the information services provider's stock worth $3,732,000 after purchasing an additional 7,856 shares during the last quarter. Holderness Investments Co. grew its position in Alphabet by 0.9% in the 1st quarter. Holderness Investments Co. now owns 20,177 shares of the information services provider's stock worth $3,152,000 after purchasing an additional 176 shares during the last quarter. Boston Partners grew its position in Alphabet by 7.5% in the 1st quarter. Boston Partners now owns 18,582 shares of the information services provider's stock worth $2,903,000 after purchasing an additional 1,292 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its position in Alphabet by 53.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 130,408 shares of the information services provider's stock worth $20,374,000 after purchasing an additional 45,267 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.5%

Shares of GOOG stock traded up $1.09 during trading hours on Friday, reaching $204.91. 21,099,072 shares of the stock traded hands, compared to its average volume of 24,037,520. The business has a fifty day moving average price of $185.21 and a 200 day moving average price of $174.87. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market capitalization of $2.48 trillion, a PE ratio of 21.82, a PEG ratio of 1.35 and a beta of 1.02. 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 (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed 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. 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 payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOG shares. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business'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 transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $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 three months, insiders have sold 274,819 shares of company stock valued at $49,796,547. Corporate insiders own 12.99% of the company's stock.

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.