Running Oak Capital LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,677 shares of the information services provider's stock after buying an additional 6,263 shares during the period. Running Oak Capital LLC's holdings in Alphabet were worth $14,010,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Inlight Wealth Management LLC boosted its stake in shares of Alphabet by 14.0% during the 1st quarter. Inlight Wealth Management LLC now owns 1,597 shares of the information services provider's stock valued at $249,000 after buying an additional 196 shares during the period. Intact Investment Management Inc. lifted its stake in shares of Alphabet by 12.5% in the 1st quarter. Intact Investment Management Inc. now owns 9,000 shares of the information services provider's stock valued at $1,406,000 after purchasing an additional 1,000 shares during the last quarter. Nilsine Partners LLC lifted its stake in shares of Alphabet by 1.5% in the 1st quarter. Nilsine Partners LLC now owns 24,556 shares of the information services provider's stock valued at $3,836,000 after purchasing an additional 353 shares during the last quarter. Canton Hathaway LLC lifted its stake in shares of Alphabet by 25.3% in the 1st quarter. Canton Hathaway LLC now owns 42,140 shares of the information services provider's stock valued at $6,584,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Woodmont Investment Counsel LLC lifted its stake in shares of Alphabet by 3.5% in the 1st quarter. Woodmont Investment Counsel LLC now owns 74,093 shares of the information services provider's stock valued at $11,576,000 after purchasing an additional 2,509 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on GOOG. Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.
Check Out Our Latest Analysis on Alphabet
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 over the last quarter. Corporate insiders own 12.99% of the company's stock.
Alphabet Trading Down 1.0%
NASDAQ GOOG traded down $1.72 during trading hours on Monday, hitting $166.01. The company's stock had a trading volume of 36,202,053 shares, compared to its average volume of 20,645,192. The stock has a fifty day moving average of $166.31 and a 200 day moving average of $176.41. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 18.51, a PEG ratio of 1.18 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet's dividend payout ratio is currently 9.36%.
Alphabet Profile
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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.
Further Reading
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