Alphabet Inc. (NASDAQ:GOOG) is Oak Ridge Investments LLC’s 6th Largest Position

Posted by on Jun 27th, 2023

Oak Ridge Investments LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,455 shares of the information services provider’s stock after selling 318 shares during the quarter. Alphabet makes up about 2.4% of Oak Ridge Investments LLC’s holdings, making the stock its 6th biggest holding. Oak Ridge Investments LLC’s holdings in Alphabet were worth $17,831,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Corrado Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. Gould Capital LLC increased its holdings in shares of Alphabet by 2,150.0% in the 3rd quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 301 shares during the period. Essex Investment Management Co. LLC increased its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares during the period. My Personal CFO LLC acquired a new position in Alphabet in the 4th quarter valued at $34,000. Finally, Bellwether Advisors LLC increased its stake in Alphabet by 9,400.0% in the 3rd quarter. Bellwether Advisors LLC now owns 380 shares of the information services provider’s stock valued at $36,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 27.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GOOG. UBS Group boosted their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Oppenheimer decreased their target price on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Finally, Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.80.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were 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 of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders sold a total of 877,364 shares of company stock valued at $30,371,135 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 3.2 %

NASDAQ GOOG opened at $119.09 on Tuesday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. The company has a 50-day moving average of $117.58 and a 200-day moving average of $103.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The company has a market cap of $1.51 trillion, a P/E ratio of 26.52, a P/E/G ratio of 1.57 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current year.

About Alphabet

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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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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