Oak Ridge Investments LLC Acquires 12,622 Shares of Alphabet Inc. (NASDAQ:GOOG)

Oak Ridge Investments LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,636 shares of the information services provider’s stock after buying an additional 12,622 shares during the period. Alphabet comprises 3.3% of Oak Ridge Investments LLC’s holdings, making the stock its 8th largest position. Oak Ridge Investments LLC’s holdings in Alphabet were worth $42,589,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. raised its position in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOG shares. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Citigroup lifted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Up 1.6 %

Shares of NASDAQ:GOOG opened at $197.55 on Tuesday. The company has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $185.92 and its 200 day simple moving average is $174.76. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. Company insiders own 12.99% 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.