Alphabet Inc. (NASDAQ:GOOGL) is Oak Ridge Investments LLC’s 9th Largest Position

Oak Ridge Investments LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.0% during the fourth quarter, HoldingsChannel reports. The firm owned 150,022 shares of the information services provider’s stock after acquiring an additional 8,436 shares during the period. Alphabet comprises about 2.2% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 9th biggest holding. Oak Ridge Investments LLC’s holdings in Alphabet were worth $28,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. LMR Partners LLP acquired a new position in Alphabet in the 3rd quarter valued at about $32,000. Denver PWM LLC raised its position in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. Quarry LP acquired a new position in Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC increased its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOGL shares. Evercore ISI increased their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald dropped their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.67.

Alphabet Stock Up 0.2 %

GOOGL opened at $198.37 on Thursday. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.43 trillion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The business’s 50-day simple moving average is $185.07 and its 200-day simple moving average is $173.38.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. Insiders own 11.55% of the company’s stock.

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.