Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Oak Harvest Investment Services

Posted by Defense World Staff on Apr 8th, 2023

Oak Harvest Investment Services trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,542 shares of the information services provider’s stock after selling 10,301 shares during the period. Alphabet makes up 1.4% of Oak Harvest Investment Services’ portfolio, making the stock its 28th biggest position. Oak Harvest Investment Services’ holdings in Alphabet were worth $5,253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Bornite Capital Management LP purchased a new position in Alphabet in the first quarter valued at about $16,688,000. Markel Corp raised its holdings in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank raised its holdings in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Stock Up 3.8 %

GOOGL stock opened at $108.42 on Friday. The firm has a 50 day simple moving average of $98.16 and a 200 day simple moving average of $95.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The firm has a market cap of $1.39 trillion, a PE ratio of 23.83, a P/E/G ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $137.16.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period in the prior year, the company posted $1.53 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the transaction, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,192 shares of company stock worth $11,373,417. Company insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOGL shares. Stifel Nicolaus started coverage on Alphabet in a report on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. KeyCorp decreased their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Finally, BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a report on Friday, March 17th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.17.

About Alphabet

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.