Silver Oak Securities Incorporated Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Silver Oak Securities Incorporated lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 47.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 39,246 shares of the information services provider's stock after purchasing an additional 12,551 shares during the period. Silver Oak Securities Incorporated's holdings in Alphabet were worth $6,077,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Group Ltd. grew its holdings in Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after acquiring an additional 78 shares during the last quarter. Capital & Planning LLC boosted its holdings in shares of Alphabet by 34.3% during the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after purchasing an additional 1,119 shares during the period. Eagle Capital Management LLC grew its stake in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Alphabet during the 4th quarter valued at about $154,716,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 3.9%

Shares of Alphabet stock opened at $166.64 on Monday. The company has a 50-day simple moving average of $164.77 and a two-hundred day simple moving average of $174.73. The stock has a market capitalization of $2.02 trillion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL - 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, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during 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%. During the same period in the previous year, the business earned $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business's 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 directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now directly owns 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock worth $37,745,632 over the last quarter. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets reiterated an "outperform" rating and issued a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Jefferies Financial Group cut their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Truist Financial reduced their price objective on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, DA Davidson dropped their target price on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.75.

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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